AOL.com Video - Fitch Downgrades Spanish Banks

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Fitch Downgrades Spanish Banks

Description:Last week it cut Spain's sovereign debt rating now Fitch has downgraded 18 Spanish banks. Recently part nationalised Bankia is one of them. Fitch expects Spain to remain in recession until at least the end of next year instead of seeing a recovery in the middle of it. The dowgrade comes as 10 year Spanish bond yields rose to a euro-era high. (2:16)

Source: Reuters

Tags: Fitch Downgrades Spanish Banks , bankia downgrade , daniel alvarez , fitch bank downgrade