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    Spain: protests against Bankia cutback plans

    euronews (in English)

    by euronews (in English)

    There have been protests in cities across Spain by bank workers, angry at plans by the country's second biggest savings bank to slash jobs and pay.

    Bankia had to be nationalised in May to stop it going under, kept afloat by a government handout of 18-billion euros.

    Now managers plan to jettison 5,000 workers and cut salaries for those who remain by 40 per cent.