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Following the downgrade of Spain's sovereign debt rating last week, S&P cut the credit rating of 16 Spanish banks. The downgrade included Santander which received a cut to A- from A+.
The decision add to worries as it comes after the Financial Times report yesterday which stated that "Spain's government and its banks are discussing a new scheme to segregate problematic property loans into one or more asset-management companies in order to relieve the burden on struggling lenders," according to a report by CNBC.
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Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009
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