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Subject
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The banking system in Europe is on the verge of collapse! Bank runs happening in Spain, Portugal, Greece and Ireland
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Original Message
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[link to www.bloomberg.com]
A total of 326 billion euros ($425 billion) was pulled from banks in Spain, Portugal, Ireland and Greece in the 12 months ended July 31, according to data compiled by Bloomberg. The plight of Irish and Greek lenders, which were bleeding cash in 2010, spread to Spain and Portugal last year.
But that's not all :
Banco Santander SA (SAN), Spain’s largest bank, lost 6.3 percent of its domestic deposits in July, according to data published by the nation’s banking association. Savings at Banco Popular Espanol SA, the sixth-biggest, fell 9.5 percent the same month.
THAT'S HUGE. Bank runs we can believe in!
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