Bankia: 7 billion euros, not 4.5 actually

Bankia, the about to be failed bank that was formed out of seven failed savings banks, actually needs a bailout of over 7 billion euros, not 4,5 billion.

Interestingly enough, the amount that the state wants the federal regions to cut out of their budget is only 5 billion, so that’s that savings gone then. Bummer.

CEO of Bankia, Rodrigo Rato, has announced his resignation, which is unusual.

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