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Bankia SA : Spain's Bankia shares suspended: regulator (Spain's Largest Bank!)
Thomson Reuters ^
| Tracy Rucinski
Posted on 05/25/2012 12:18:01 AM PDT by tcrlaf
Trading in the securities of Spanish lender Bankia has been suspended "due to circumstances that may affect the normal share trading," stock market regulator CNMV said on Friday.
Bankia will ask the state for more than 15 billion euros ($19 billion) to bail it out when its new management team presents a restructuring plan on Friday, a financial sector source said late on Thursday.
TOPICS: News/Current Events
KEYWORDS: bank; bankia; debtcrisis; europeanunion; france; germany; regulator; russia; shares; spain; spains; suspended; unitedkingdom
BIG NEWS from Europe to open the morning with. After hours today, Bankia asked for a $19 BILLION dollar bailout from the Spanish Government.
Could we wake up to BLACK FRIDAY 2012? Do already skittish traders want to get stuck holding over a long weekend?
posted on 05/25/2012 12:18:20 AM PDT
It was reported in US media yesterday that Bankia was going to need a 9 Bil Recapita;ization (Bailout), this morning’s breaking news is that it needs $19 Billion to stay afloat.
posted on 05/25/2012 12:20:31 AM PDT
(Election 2012: THE RAPTURE OF THE DEMOCRATS)
Spain’s IBEX is up at this moment, so this does not seems to affect the markets over there.
posted on 05/25/2012 12:57:36 AM PDT
Bankia is Spain’s fourth-largest bank, not its largest.
posted on 05/25/2012 2:24:36 AM PDT
(If a politician won't protect innocent babies, what makes you think that he'll protect your rights?)
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