Spain Prepares Bank Bailout

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

<blockquote>“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>

The second biggest lender in Spain is reporting that it could take up to 60 billion euros ($78 billion US) to bail out the country’s banks.

The results of independent stress tests of the Spanish banking system aren’t due to be released until September 28th but BBVA apparently obtained access to the information in advance.

Spanish government officials have told the BBC they have put economic reform plans into place that would allow the country to immediately seek bailout funds rather than having to wait to implement the necessary reforms.

Twenty billion euros ($26 million US) has already been allocated to the Spanish banking system making the total amount of bailout funds as high as 80 billion euros. Sources with the EU have told the BBC Spain is rushing to obtain the funds before the current market conditions change.