Don't Rely on Banking Union to Solve Euro Zone Crisis

Conventional wisdom has it that the euro zone needs a banking union to solve its crisis. This is wrong. Not only are there alternatives to an integrated regulatory structure for the zone’s 6,000 banks, but centralization will undermine national sovereignty.

Spain has successful bond sale after tough week

MADRID (AP) — Spain raised €2.1 billion ($2.62 billion) Thursday from the bond markets — but investors demanded a higher interest rate out of concern that the country's troubled banks were weighing heavily on government finances.

Spanish savings banks mull merger as debt crisis bites

Three Spanish savings banks, Ibercaja, Liberbank and Caja3, are considering a merger to strengthen their balance sheets as the country's debt crisis continues to bite.