Run on nationalised Spanish bank sees customers withdraw €1BILLION… as French government slashes its own pay by 30%
A €1billion run on a recently nationalised Spanish bank has sparked further fears that the 17-nation eurozone is about to implode.
European markets fell as fears of a continent-wide contagion from goverment-less Greece’s economic crisis also spread.
Shares in Bankia, Spain’s fourth biggest bank formed in 2010 through a merger of seven struggling regional savings institutions, today plummeted by 27 per cent.
The pan-European FTSE 300 index was down 0.9 per cent at 984.22 points by 10.26.am, close to a four-and-a-half-month low of 983.95 points reached yesterday.
Spain’s benchmark IBEX index fell nearly 2 per cent to its lowest level since mid-2003.
It came following a report in El Mundo newspaper that its customers had withdrawn more than €1billion from their accounts over the past week.
Read more: http://www.dailymail.co.uk/news/article-2145764/Run-nationalised-Spanish-bank-sees-customers-withdraw-1BILLION–French-government-slashes-pay-30.html#ixzz1v8yt3b4a