Spanish Banks Hooked on ECB Cash for Years: Chart of the Day

Spanish banks will stay addicted to European Central Bank funding “for years to come” as investors sidestep their bonds, according to analysts at Evolution Securities Ltd.

The CHART OF THE DAY shows borrowing from the ECB by the nation’s lenders since the inception of the euro, based on Bank of Spain figures. They asked for a record 130 billion euros ($166 billion) in July, accounting for 29 percent of total borrowing from the central bank, almost four times their average 8 percent share since 1999, according to London-based Evolution.