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View Full Version : Finance Another worry for Spain?



delderek
17-05-2012, 15:27
The Spanish government has intervened to deny reports of a run on troubled lender Bankia, after a shareholder rush for the exit.

Shares in Bankia - which was recently part-nationalised - plunged 27% at one stage after Spanish newspaper El Mundo reported that 1bn euros (800m) worth of deposits had been withdrawn in the last week.

In a separate development, the bank's chairman released a statement in an attempt to reassure customers their deposits were safe.

There is a wealth of pressure on the Spanish economy - largely stemming from the collapse of its property bubble four years ago - which badly damaged its financial system.