How Bankia broke Spain

As Bankia imperilled Spain's finances its executives, politicians, regulators and the media ignored ever-growing signals of a doomed business model. Now the behemoth is under investigation for crimes including false documentation, embezzlement and fraud.

FT.com

"A very solid group with more than 10 million customers.”

That was how a senior Bankia executive described the big Spanish bank on the last Friday of April.

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