NEW YORK (TheStreet) -- Shares of Spain's second largest bank Banco Bilbao Vizcaya Argentaria  (BBVA) fell more than 5% to a 52-week low of $9.01 on Monday after a report in a German magazine claimed Germany would let Greece leave the Eurozone.

The report dragged down several European banks on Monday.

German Chancellor Angela Merkel and German Finance Minister Wolfgang Schaeuble think Greece's departure from the economic and monetary union would be "manageable," according to German magazine Der Spiegel.

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The report also claims the German government considers Greece's exit "inevitable" if the nation's opposition leader, Alexis Tsipras, comes to power in Greece's upcoming election this month and if the country does not service its debts.

Greek Prime Minister Antonis Samaras said in a speech Friday that a victory for Tsipras and the Syriza party would cause default and Greece's exit from the Eurozone, according to Bloomberg.

Banco Bilbao Vizcaya Argentaria closed down 5.04% to $9.05 on Monday. More than 3.5 million shares changed hands, compared to the daily average volume of 1,910,830.

BBVA Chart BBVA data by YCharts

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