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Spanish Banks Agree to Layoffs and Other Cuts to Receive Rescue Funds in Return

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The most significant cuts will be made by Bankia, the giant lender whose collapse and request for 19 billion euros, or $25 billion, in additional capital last May led the Spanish government to negotiate a banking rescue of up to 100 billion euros ($130 billion) a month later. The money approved Wednesday is part of […]

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