Spain To Bail Out Third-Largest Bank

08 May 2012

The Spanish government has said it will bail out Bankia, the nation’s third-largest bank.

The Spanish government has said it will bail out Bankia, the nation’s third-largest bank. In a related development, Rodrigo Rato has stepped down as executive chairman of Bankia, which was formed two years ago out of a merger of seven Spanish savings banks.

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