Spain About to Whack Hapless Smaller Savers Conned into Buying Bank Preference Shares as a Condition of its Bank Rescue
2012-11-29 — nakedcapitalism.com
Yves here. We've flagged in earlier posts how the Spanish banking crisis had the potential to become destabilizing politically, as if Spain wasn't already at considerable risk of upheaval. Spanish depositors were pushed to convert their deposits into preference shares, which they were told were just as safe. That of course was never true.
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