Footballers Ronaldo And Kaka To Be Used As ECB Collateral

According to a number of European newspapers, star footballers Cristiano Ronaldo and Kaka are now being used as collateral for ECB loans. Presseurop.eu reports that "The most expensive footballer in history may now be used to guarantee the solvency of a Spanish bank." The papers are reporting that the Bankia group of savings banks, which financed Real Madrid's acquisition of Ronaldo, is now seeking to borrow funds from the ECB.

As a result of the central bank's demands for collateral, Bankia is putting up the Portuguese player along with Brazilian Kaka. More on the story can be found at zerohedge.com.