Rushed Popular resolution casts long shadow over Europe's banks

摘要

At 8:33am on Monday June 5 2017, an email landed in a mailbox at Banco de Espana. A bank run was underway at Banco Popular, one of Spain's biggest banks. Barely three minutes into the working week, the situation was already critical - Popular was running out of cash, and fast. The email contained a formal request: Popular was appealing to the Spanish central bank for €1.9bn in emergency liquidity assistance.