Home / Euro debt crisis / Nationalised Bankia has now lost 99% of its stock exchange value since it was listed 22 months ago

Nationalised Bankia has now lost 99% of its stock exchange value since it was listed 22 months ago

Spain’s banking crisis wiped out billions of euros of family savings on Tuesday as small investors who bought shares in the nationalised Bankia were finally able to trade them – but at only a fifth of their original price.

The wipeout on Madrid’s stock exchange means that Bankia, which was created by the fusion of seven savings banks, has now lost 99% of its stock exchange value since it was listed 22 months ago.

Check Also

40 Australian economists urge debt forgiveness for Greece

Forty Australian economists issued a statement prior to the Greek national elections on January 25 claiming that the debt recovery program is unsustainable. They criticize the austerity program imposed by the Troika of the Europen Commission  (EC), European Central Bank (ECB) and the International Monetary Fund (IMF) as a “failure”. They call on the future ...