Sunday, 27 May 2012

Spanish High Street Bank to Ask Madrid for €15 Billion Bailout Fund as Fears Grow over Euro Contagion

'The financial hurricane battering the eurozone hit Spain last night amid fears over its banking system and the solvency of its wealthiest region.

Trading of shares in troubled Spanish lender Bankia were suspended yesterday ahead of a potential £15 billion government bailout to save it from collapse. The bank, the fourth biggest in Spain, was plunged into crisis by heavy losses stemming from the 2008 property crash.'

Read more: Spanish High Street Bank to Ask Madrid for €15 Billion Bailout Fund as Fears Grow over Euro Contagion