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Lessons from the Rock for Europe's banks
In November 2010, rumors swirled through financial markets that Spanish bank BBVA (BBVA.MC) was suffering a run on its deposits. The share price fell before excitable traders realized they had made a mistake. In fact the bank was holding a "fun run" in Madrid and customers had lined up outside its branches to get their T-shirts. In a jittery market, talk spread quickly and few things worry bank investors and customers more than talk of a run. Nervous times have returned to the euro zone, and customers are worrying again about whether their savings are safe. Banks, regulators and policymakers in Greece, Spain and ... (full story)