Spain: Bankia in Trouble
May 17th, 2012Via: BBC:
Shares in Spanish bank Bankia have continued their dramatic decline on concerns over the firm’s finances.
The share price was down another 15% on Thursday, taking losses for May to 45%.
Spain denied a report in the El Mundo newspaper that customers had taken more than 1bn euros ($1.3bn; £800m) out of the bank, which is set to be part-nationalised, over the past week.
The government, meanwhile, has had to pay sharply higher rates of interest to borrow money on the bond markets.
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