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Posted by on Nov 25, 2012 in Banking | 0 comments

Layoffs seek authorities by Spanish banks

Layoffs seek authorities by Spanish banks

European authorities will carry 35 billion euro bailout fund at the State Bank of Spain on December 15th, in exchange for massive layoffs in four Spanish banks that have been nationalized, including Bankia, says Sunday’s El Pais.

The Bankia and NovaGalicia Bank declined to comment on the report, which also states that the two banks will close a total of 1,000 branches.

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