Deepening Crisis Spain Reports Record Capital Flight

Capital outflows from Spain quadrupled in May to €41.3 billion from May 2011 in a sign of waning confidence in the country's ailing banking sector. In the first five months of this year, outflows reached a record €163 billion, according to figures from the country's central bank.
Bankia's troubles appear to have worsened a capital flight from Spain in May.

Bankia's troubles appear to have worsened a capital flight from Spain in May.

Daniel Ochoa de Olza/ AP
cro -- with wire reports