25 May, 2012 @ 14:08
1 min read

Bankia shares suspended over possible bailout request

SHARES in Spain’s Bankia have been suspended amid speculation it is on the verge of requesting a €15 billion bailout from the government.

A board meeting on Friday afternoon has been called in an effort to confirm plans to secure the finances of Spain’s fourth-largest bank.

It comes just two weeks after the lender was partially nationalised when €4.5 billion in government loans were converted into bonds.

The bank is struggling with €32 billion of loans linked to the troubled property market, although Spain’s other major banks are not thought to be as badly affected.

Bankia was forced to reassure its customers last week following reports that up to €1 billion had been withdrawn, sparking a 30 per cent drop in the share price.

James Bryce

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    Stop using MY money to prop up failing businesses! If the banks are so bad, shut them. Let the bankers be unemployed. Let the bankers suffer from their own irresponsible lending.


  2. VERY poor Bank procedures are NOT TOO BIG to fail. Let them go down with the dopes who invested their money in the Cajas, very stupidly. There’s a Risk, and Reward.
    If the government of ANY country wants to ELIMINATE RISK of investment, please show the Politicians’ name and their Abogados’ Tel# so all can SUE directly.

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