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    verntern
    Santander. Spanish economy in trouble?
    • #1
    • 25th May 10, 4:45 PM
    Santander. Spanish economy in trouble? 25th May 10 at 4:45 PM
    Alarming to read BBC reports:

    'The concerns about eurozone debt follow Monday's strongly-worded comments from the International Monetary Fund that the Spanish economy needs comprehensive and far-reaching reform.
    That added to investors' worries over the weekend rescue of Spanish bank Cajasur by the Bank of Spain, only the second time the central bank has saved a regional lender.
    Amid concerns over solvency in the sector, and in the wake of the Cajasur rescue, four Spanish savings banks then announced plans to merge.
    Cajastur, Caja de Ahorros del Mediterraneo, Caja Extremadura and Caja Cantabria said they had reached agreement to form a group th
    at would "strengthen solvency and assets of the participating banks".'

    Santander may be bigger than these minor banks and our Government protect our savings. Do I sense a small whiff of Icesave all over again?

    I am choosing to transfer my Santander ISA. A Spanish bank too risky at the moment.
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