Thursday, May 31, 2012

Investors Flee Spain as Financial Crisis Worsens

'The European Central Bank said on Wednesday that private individuals and companies are withdrawing their money out of Spanish Banks.

Data shows private deposits at Spain's financial institutions fell by more than 30 percent in April. The interest rate on Spain's 10-year bonds rose to 6.703 percent as the country battled to avoid being the next victim of the eurozone crisis.'