By editor
Originally published on Thu May 10, 2012 7:50 pm
Spain nationalized its largest real estate lender Wednesday night and plans to announce an overhaul of the country's entire banking system Friday.
The country is scrambling to prevent its troubled banks — weighed down by property debts — from sabotaging the whole economy. The Spanish government has only to look northward to Ireland to see what could happen if it fails.
Lessons From Ireland
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