SPAIN'S BANKS are all dried up:

Spanish banks' recourse to European Central Bank funding hit a record high in June, against a backdrop of intensifying turmoil on financial markets.

Spanish banks raised €126.3 billion ($160.6 billion) in funding from the ECB in June, up 48% from €85.62 billion in May, according to data the Spanish central bank published on its website Wednesday. The June borrowings are the largest on Bank of Spain records dating back to 1999.