Apparently the recent global economic crisis is taking a particularly hard swipe at Spain. So much so in fact, CNN has just reported that the Spanish Prime minister has reshuffled his cabinet in response to the country's economic woes:http://edition.cnn.com/2009/WORLD/europe/04/07/spain.politic...Furthermore, it seems this Spanish malaise was predicted by economist and columnist Paul Krugman on his blog here:http://krugman.blogs.nytimes.com/2009/03/14/spanish-doldrums...and here: http://krugman.blogs.nytimes.com/2009/01/19/the-pain-in-spai...This leads me to wonder just how bad things actually are in Spain, and what impact this may have on the long term prospects for BBV, the second largest bank in that country. Well, this bank is not just limited to Spain. It also has extensive operations throughout Latin America, and has recently expanded into the US and Asia:http://en.wikipedia.org/wiki/Banco_Bilbao_Vizcaya_Argentaria...Still, it looks like just under half of the bank's branches are in Spain (3375 out of 7787 branches):http://wrightreports.ecnext.com/coms2/reportdesc_COMPANY_C72...So, at a time when II has put all bank stocks on the hold list, do we need to worry more about BBV than any of the others?Hell if I know.Shoobeedoobee
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