Luis de Guindos had one last clandestine mission before unveiling his plan to the public and jittery financial markets. The Spanish finance minister had just won a furious backroom battle to oust Rodrigo Rato, a favourite son of his ruling centre-right Popular party, from the helm of Bankia and nationalised the faltering year-old assemblage of savings banks that had collapsed after betting wrongly on the country’s housing bubble.
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