Basque-ing in Stress

Only a small handful of European banks failed the 'stress test' this week. The failures were pretty well signalled ahead of the results and equities rose on the (not much) news. A few Spanish 'cajas' were singled out as well as a German and Greek bank. The test had a low hurdle rate but hey! what's wrong with a bit of good news, given all the gloom that's sloshing around. There's one group of economists hogging the limelight at present, preaching ongoing misery for years to come. Maybe, maybe not. German economic data is stellar right now - the IFO business expectations index for July was the highest in 16 years. The QSL is from a Spanish AM station - Cadena SER, San Sebastian in the Basque country. I have quite a few of these, heard in SA and the UK. Local Spanish stations have brief time windows when they run their own programming and identifications. It's fun to hear them. On some frequencies there are several so it can be quite a job trying to sift out one from another.