Comment on Spain: 5 banks downgraded, Bankia seeks 19 billion euros in aid

Spain: 5 banks downgraded, Bankia seeks 19 billion euros in aid

It’s not looking good for the Spanish banking system. Standard & Poor’s just slashed the credit ratings of five banks and said the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid - a roughly $23.8 billion boost.

 

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