Posted Jun 9, 2017 by Martin Armstrong
Spain’s Banco Santander is paying €1 to take over troubled rival Banco Popular, in a deal that illustrates Europe’s new system to rescue failing banks without burdening taxpayers or stressing markets. This is being cheered around the world because the shareholders lost absolutely everything. The bank which was valued in the collapse at €1.6 billion was bought for €1. Forbes wrote:
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https://www.armstrongeconomics.com/world-news/banking-crisis/bank-stocks-have-a-completely-new-risk/
