October 13, 2007 (LPAC)--Spain's major banks are drawing straws over who will be fed to the monetary sucking vampires and become the first victim in Spain like Northern Rock in Britain. The real estate markets of Spain, Great Britain and Ireland are all expected to collapse; the only question is, to whom?.

"Everything has basically stopped because banks are too fearful to lend to each other. Everyone wants to know who has been affected by the recent turbulence. There is a climate of total mistrust," said a Spanish banker, who pointed out the fact that all interbank lending in Spain has frozen. Supposedly everyone is waiting for the Spanish banks to publish their third quarter figures, to see who will be the victim.

Already, the high-profile property developer Llanera, was sucked dry after it is believed to have defaulted on 750 million Euro in debts. Banco Popular failed to issue 2 billion Euros in mortgage-backed securities, since everyone knew that there would be no buyers. Moody's put out a report that five unnamed Spanish savings banks were vulnerable to a real estate collapse.