Bankia Bailout Spain Struggles to Control Escalating Bank Crisis

This week's move by Spain to nationalize the country's fourth-largest bank almost overnight is just the latest in a financial sector crisis that has been growing since the Spanish real estate bubble burst. It is likely to increase calls for Madrid to accept financial aid from its European partners.
Nearly 10 percent of Spanish savings are held at Bankia, which the government in Madrid nationalized this week.

Nearly 10 percent of Spanish savings are held at Bankia, which the government in Madrid nationalized this week.

Foto: PAUL HANNA/ REUTERS