Prosecutors, academics and regional parliaments begin to uncover rampant corruption at Spain's savings banks or cajas
Friday 8 June 2012 18.13 BST
Attempts to investigate Bankia, the country's fourth largest lender that absorbed a number of savings banks, have been blocked by the ruling People's party. Photograph:
As European taxpayers prepare to rescue Spain's ailing banks, anti-corruption prosecutors, academics and regional parliaments have begun to uncover a tale of greed, cronyism and political meddling that has brought many of the country's leading savings institutions to their knees.
With the fourth-biggest lender, Bankia, demanding €19bn (£15.4bn) and authorities now admitting a further €9bn is needed by two former savings banks – CatalunyaCaixa and Novagalicia – concern is focusing on both the mushrooming bill and the way banks have been run
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