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Bankia Investigation Finds Links To Spain’s Central Bank

Wednesday, February 15, 2017 18:02
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Written by Dirk Ehnts, Econoblog101

During the crisis, some Spanish banks were joined together and put into the market as “Bankia”, which turned out – surprise! – to be a “bad” bank: lots of non-performing loans, and investors lost a lot of money. Now the criminal investigations have started and some people belonging to the leadership of the Spanish central bank, Banco de Espana, have been indicted, among them former IMF head Rodrigo Rato (2004-2007), who was also Spain’s First Deputy Prime Minister (2003-2004).


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