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kevinan108

Spain banking sector shaken by report of bank run | CanadianBusiness.com - 0 views

www.canadianbusiness.com/...r-shaken-by-report-of-bank-run

Spain EuropeanCrisis banks banking nationalization runonbanks

shared by kevinan108 on 17 May 12 - No Cached
  • Confidence in Spain's banks and its teetering economy was shaken Thursday after a newspaper reported that depositors were rushing to withdraw their money from Bankia, a troubled bank that was effectively nationalized just one week ago.
  • Adding to the anxiety, rating agency Moody's downgraded its credit ratings on Spanish banks.
  • Political turmoil in Greece has increased the likelihood that it could leave the 17-country monetary union, a move that could have ripple effects throughout Europe and the world's financial markets.
  • ...3 more annotations...
  • Bankia SA, the country's fourth-largest lender, saw its shares fall as much as 27 percent during trading in Madrid after the El Mundo newspaper reported the bank was hit with more than €1 billion ($1.27 billion) of withdrawals since the government announced the takeover.
  • Greek president Karolos Papoulias warned party leaders during unsuccessful coalition talks that about €700 million ($898 million) in deposits have flown out of Greek banks since the May 6 elections, according to a report from Greece's central bank governor, George Provopoulos
  • the interest rate on Spanish 10-year bonds stood at a worryingly high 6.29 percent. It has risen sharply from below 5 percent in March and is edging toward the 7 percent mark that is considered unsustainable in the longer term.
kevinan108

Key Facts - 10 views

Ina Drew- Chief Investment Officer of JP Morgan. She was one of the few women in leadership roles on Wall Street. She was fired after her actions cost JP Morgan $3 billion dollars. She may receive ...

started by Kevin Mao on 18 Apr 12 12 follow-ups, last by kevinan108 on 18 May 12
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