Spain

Spain bails out Bankia, seeks plan for troubled regions

23 May 2012

MADRID (Reuters) - Spain announced a 9-billion-euro ($11 billion) bailout for troubled lender Bankia on Wednesday, while also seeking ways to help its highly indebted regions meet huge refinancing needs that threaten to drag the country deeper into the eurozone crisis. The country's weak banks and overspending regions are at the heart of the European debt crisis due to concerns that expensive ...

Spain to Recapitalize BFA-Bankia as Lender Needs $11 Billion

23 May 2012

Spain will recapitalize BFA-Bankia (BKIA) with as much public money as necessary, as the nationalized group needs at least 9 billion euros ($11 billion) to comply with banking rules, Economy Minister Luis de Guindos said.

Spain to inject $11.3 billion funding gap at Bankia

23 May 2012

MADRID (Reuters) - Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros ($11 billion), as the government tries to clean up a banking system that threatens to drag the country deeper into the euro zone crisis. Losses at Spain's fourth largest bank are central to investors' fears that the country's fragile financial system, already vulnerable to rising ...