From the Telegraph today, Bankia’s problems:
So just this one Bank will have to cut 6000 jobs, 28% of it’s work force. 1100 branches to close and expecting to report a 19 Billion Euro loss this year.
It’s State Aid will top 41 Billion Euros to stave off collapse.
Any of these figures individually are mind blowing let alone all of them together, where do those laid off find jobs or aid, how can these debts be repaid and in what time frame? 😯 🙄