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foreign investors to take control of the Cajas

Spain readies ‘nationalization’ of Cajas

The Spanish government is preparing a plan to outsource the control of the people’s banks by demanding larger reserves in a short period of time.  The result?  Banks will probably not make it and the government will ask foreign investors to take control of the Cajas. AFP March 6, 2011 Spain’s ailing regional savings banks are scrambling to raise billions of euros of fresh funds to meet strict new ...Read full article...