Business

Spanish Prime Minister Mariano Rajoy, shown in Portugal on May 9. Spanish bank stocks tumbled Friday as the government readied drastic reforms to save their balance sheets, two days after nationalising the fourth-biggest bank, Bankia. Rajoy met with his ministers to adopt the broad reforms, expected to bring to light the financial sector's massive exposure to the collapsed property sector

Spanish Prime Minister Mariano Rajoy, shown in Portugal on May 9. Spanish bank stocks tumbled Friday as the government readied drastic reforms to save their balance sheets, two days after nationalising the fourth-biggest bank, Bankia. Rajoy met with his ministers to adopt the broad reforms, expected to bring to light the financial sector's massive exposure to the collapsed property sector