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Spain denies Bankia customers are rushing to withdraw funds

From guardian.co.uk

Anxiety that Spain will be the next domino to fall if Greece leaves the euro mounted on Thursday as the country was forced to deny there was a run on its fourth-biggest lender, Bankia. Bankia shares fell almost 30% at one point after reports – later denied – that depositors were withdrawing their funds. It was bailed out only last week when the government converted loans into a 45% stake. Although Bankia later recovered half of its lost value on the Madrid stock exchange, the dramatic fall in its share price came as Spain's government made ever louder calls for European action to halt the increasing instability. ... (full story)

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