Spain's Bankia vows transparency

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The head of Spain's fourth-largest bank, Bankia, has promised more transparency, a day after announcing huge losses and asking for a bailout.

Jose Ignacio Goirigolzarri told a news conference a full restructuring plan would be finalised by the end of June.

The Madrid stockmarket suspended trading in Bankia shares on Friday, prior to the bank asking the state for 19bn euros.

If granted, the bailout would be the biggest of its kind in Spanish history and would largely nationalise the bank.

Tom Burridge reports.

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