Bankia needs further massive bailout

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Bankia needs further massive bailout

E
euronews (in English)

14 Views • May 25, 2012

Description

Shares in Spain's Bankia were suspended on Friday as it was set to ask the government for a more than 15 billion euro bailout.

That would take the total cost of rescuing the country's fourth-biggest bank to around 20 billion euros.

The state bailout is needed because Bankia is stuck with billions in property loans that are never going to be repaid as well as repossessed homes.

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http://www.euronews.net/