4.5 Billion Euro Given to Spanish Bank

“Spain said Monday it is urgently injecting €4.5-billion into Bankia, a state-rescued lender still losing billions of euros. The state-backed Fund for Orderly Bank Restructuring (FROB) said its governing board had agreed to pump in the capital ‘with immediate effect’ to restore its balance sheet,” an Agence France-Presse article published in The Globe and Mail on Monday wrote. The article continued, “Bankia lies at the heart of Spain’s financial sector crisis, which led to euro zone members agreeing in June to extend a rescue loan to Madrid of up to €100-billion.” Read the full article here. | Raymond Matt, CFP, CLU, TEP, CHS

Post a Comment


Subscribe to: Post Comments (RSS2)