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Real estate worries mounting in Spain

Posted on 27 February 2013

Banco de Espana recently launched an inquiry into real estate deals completed by the property arm of Bankia – the country’s nationalized lender. The sources did not provide any further information on what kind of investigation was being carried out, but one thing is for certain – Bankia suffers yet another blow!
The bank has been struggling in the past few months and was even forced to seek a bailout from the government in 2012 because property losses worth billions of Euros made it very difficult for Bankia to cope independently. Sources report that the Governor of Banco de Espana, Luis Maria Linde said that the investigation was confirmed to a judge following his testimony of the 2011 listings last week………………………………………..Full Article: Source


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