You are here

ECB triggers overnight Santander rescue of Spain's Banco Popular

Thursday, June 8, 2017 - 05:50

BT_20170608_CPRESCUE8A_2925378.jpg
'This deal is good for Spain and it's good for Europe,' says Santander chairman Ana Botin. In contrast to earlier crises, the hurried sale of Popular did not spook markets and banking stocks rose in Europe.

Brussels

EUROPEAN authorities stepped in to avert a collapse of Spain's Banco Popular following a run on the bank, orchestrating a last-minute rescue on Wednesday by Santander, the country's biggest lender.

Owners of Popular bonds face losses of some two billion euros (S$$3.10

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom