Spain's Bankia Free-Falls On Bank Run Rumors
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Another day, another European bank debacle.
Following talk of bank runs in Greek since the start of the week, now Spainish banks come back to the forefront.
Shares of recently nationalized Spanish bank Bankia plunged on word customers have taken out EUR 1 billion from their accounts over the past week, according to El Mundo newspaper.
Spain took over the bank on May 9.
In response to rumors of a run, the Bank of Spain said the depositor exitus is not true.
Traders may be playing ETF iShares MSCI Spain Index (NYSE: EWP) in reaction to the news.
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Following talk of bank runs in Greek since the start of the week, now Spainish banks come back to the forefront.
Shares of recently nationalized Spanish bank Bankia plunged on word customers have taken out EUR 1 billion from their accounts over the past week, according to El Mundo newspaper.
Spain took over the bank on May 9.
In response to rumors of a run, the Bank of Spain said the depositor exitus is not true.
Traders may be playing ETF iShares MSCI Spain Index (NYSE: EWP) in reaction to the news.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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