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posted: 6/17/2012 9:39 AM

Irish tell Spain to imagine the worst in bank failures

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  • Associated PressGerman Chancellor Angela Merkel reacts before her speech prior to this weekend's G20 summit at the Bundestag in Berlin.

      Associated PressGerman Chancellor Angela Merkel reacts before her speech prior to this weekend's G20 summit at the Bundestag in Berlin.

  • Associated PressGerman Chancellor Angela Merkel is seen on a screen as a broker arrives Thursday at the stock exchange in Madrid. Spain's borrowing rates have hit a high not seen since the country joined the euro in 1999 after a credit ratings agency downgraded the country's ability to pay down its debt.

      Associated PressGerman Chancellor Angela Merkel is seen on a screen as a broker arrives Thursday at the stock exchange in Madrid. Spain's borrowing rates have hit a high not seen since the country joined the euro in 1999 after a credit ratings agency downgraded the country's ability to pay down its debt.

 
Bloomberg News

Ireland has this banking advice for spain: imagine the worst and double it.like ireland, spain sought a bank bailout after being felled by a real-estate crash. now, just as the irish did, the spanish are awaiting the results of outside stress tests gauging the size of the hole in the banking system.

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