The weak link
Five out of seven failing banks identified by the European stress tests in 2010 were Spanish savings banks. Rafael Nunez-Lagos reports on their future
Savings banks (cajas de ahorro), are a type of credit entity that represents almost half of volume within the Spanish financial sector. Akin to French caisses d’epargne or Italian casse di risparmio, savings banks are traditional, locally-orientated entities of variable (but generally limited) size, with strong economic and social ties to their home region.
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