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Shock Waves Spread from Spain’s New Banking Crisis

June 4th, 2017
Categories: News

Link: http://www.blacklistednews.com/Shock_Waves_Spread_from_Spain%E2%80%99s_New_Banking_Crisis/58915/0/38/38/Y/M.html

Spain’s sixth biggest bank, Banco Popular, plunged 36% this week to €0.43, reducing the bank’s market capitalization to €1.7 billion. Just three weeks ago, when there was still a glimmer of hope that things could be turned around, it was worth almost double that. Its shares traded at €15 ten years ago, before the collapse of Spain’s mind-boggling housing bubble that left Popular holding billions of euros of real estate assets.

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