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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  • Spain to Get $125 Billion European Bailout as Crisis Worsens
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  • More bad news for Spain: Five banks downgraded
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    MADRID -- Spain's banking crisis worsened Friday as the board of Bankia, the country's biggest mortgage lender, warned that a bailout would cost 23.5 billion euros ($23.88 ... ratings agency, downgraded Bankia and two other banks, Banco Popular and ...
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