Sunday, May 23, 2010

Spain bails out one of its regional banks - $SPAIN #Spaine

Bank of Spain Governor Miguel Angel Fernandez Ordonez said early Saturday that steps had been taken to guarantee Cajasur, a local savings bank, could continue operating as normal. It is only the second regional savings bank bailed out by public money after the Bank of Spain intervened in March 2009 to take control of Caja Castilla-La Mancha.

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