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Europe (Finally) Shows How to Deal With a Failing Bank

Bloomberg View, (2017), “Europe (Finally) Shows How to Deal With a Failing Bank”, 8 Ιουνίου

Credit where credit’s due: The sale for 1 euro of Banco Popular Espanol SA, a failing Spanish bank, to rival lender Banco Santander SA shows how the euro zone should handle such cases. The regulators acted swiftly and fairly. Global markets barely noticed. This is a model for future interventions.

Banco Popular’s troubles date back to Spain’s real-estate crisis, which left the lender with 37 billion euros in nonperforming loans. The bank reported a 3.6 billion-euro loss for the last financial year, spooking investors and leaving regulators looking for a solution.

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