Monday, May 28, 2012

Economy - Voice of America: Spanish Bank Bailout Heightens Pressure on Madrid

Economy - Voice of America
economy-and-business
Spanish Bank Bailout Heightens Pressure on Madrid
May 28th 2012, 16:16

Economic pressures are growing on Spain after the government took over the country's third largest bank with a $24-billion bailout to account for its toxic real estate loans. Prime Minister Mariano Rajoy said Monday that the debt-ridden government's takeover of Bankia would not force the Spanish government to seek a bailout from its European neighbors. With more than $40 billion in bad loans, Bankia was one of the hardest hit Spanish financial institutions during the country's ...

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