Spain Nationalizes Parts Of Savings Banks

24 Jan 2011

The Spanish government plans to partly nationalize some of its savings banks to dull the potential impact of bad loans on building developers and consequently on the financial sector.

The Spanish government plans to partly nationalize some of its savings banks to dull the potential impact of bad loans on building developers and consequently on the financial sector. The state-backed Orderly Bank Restructuring Fund, according to a government presentation, would be used to boost weak banks, known ...

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