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Spain's Banks Face Layoffs, New Regulations

Fri, January 11, 2013 9:00am

Story by Lauren Frayer

Listen to this story on npr.org »

A major overhaul of Spain's banking system is in full swing. Felled by the housing crunch, Spanish banks are getting billions in rescue loans from Europe, but they'll have to lay off about 55,000 workers in exchange.

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