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Spain says up to $200 billion left country by May
Associated Press – Spain’s central bank says €163 billion ($200 billion) has been pulled out of Spain in the first five months of the year, reflecting plunging confidence in the government’s ability to manage its financial problems. Figures released Tuesday showed €41.3 billion was withdrawn in May, compared to €9.5 billion in the same month last year. May saw Bankia, one of Spain’ largest banks, announcing it would need a whopping €19 billion in rescue funds. Read Article
Tags: banks, debt wealth, Europe, financial system
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