Thursday, May 17, 2012

Spanish banks next?

From  Forbes.com:

Moody’s has already slashed its ratings on European banks, which remain in the spotlight Thursday after reports that the European Central Bank has halted some liquidity operations with Greek banks and that the country is seeing depositors move cash outside its borders.

Meanwhlie, Bankia, the subject of a recent bailout by the state, has reportedly seen over $1 billion in withdrawals over just a few days since the Spanish government takeover, sending its shares down more than 11% in Madrid....

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Link: http://www.forbes.com/sites/steveschaefer/2012/05/17/as-european-bank-run-threatens-fitch-says-global-firms-need-another

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