EUROPE'S FINANCIAL COLLAPSE CONTINUES: "Trading in shares in Spain's Bankia has been suspended"

Trading in shares in Spain's Bankia has been suspended in Madrid.

It asked them to be suspended ahead of a board meeting this afternoon to reformulate its accounts for 2011 and submit a plan to shore up its finances. The bank is reported to be due to ask the government for a bailout of more than 15bn euros ($19bn; £12bn). 

Bankia, which is Spain's fourth-largest bank, was part-nationalised two weeks ago because of its problems with bad property debt. Any extra government money would be on top of the 4.5bn euros in state loans that the government converted into shares in the group in the part-nationalisation process.

THE EURO AND ITS BANKS ARE FAILING.

THE END  OF THE EURO WILL CAUSE SHORT TERM HAVOC,

BUT SPUR LONG TERM GROWTH - ONCE THE EURO IS JUNKED AND THE EUSSR IS TAMED.