EURUSD News by Allie Longford on 07:30 June 09, 2017 EST
Earlier in the week Banco Popular was required by the Single Resolution Board (a part of the ECB) to be sold to the Santander Group for €1 as the bank's share price had dropped by more than 90% in the past weeks amid liquidity concerns. It's 300,000+ shareholders lost the 100% value of their shares while Santander took ownership in the absence of a competitive tender to purchase the troubled institution.
On Friday Liberbank has been temporarily suspended from the local stock exchange as its shares lost 18% the previous day and 31% right after the opening on the last day of the trading week.
Considering the amount of help banks have received from the ECB and almost a decade after the financial crash of 2007 the fact that European banks are still faltering is a reason for concern.