Spanish Banks' Non-Performing Loans

On the bright side, the level of non-performing loans this November (grey bars) failed to surpass last year's all-time high, albeit by a very small margin:



Unfortunately, the proportion of doubtful debtors relative to total lending (red line, below) continues to rise:



For the Spanish banks that are included in the MSCI Europe, long-term debt as a percent of capital (top table) shows no signs of slowing while free cash flow as a percent of sales (bottom table) appears to have taken a turn for the worse:





Meanwhile, finance ministers are still debating the necessary attributes of a common bank failure resolution mechanism.