Tuesday, Jan 29, 2008
How Spain's banks could be the Northern Rock of Europe
MoneyWeek: How Spain's banks could be the Northern Rock of Europe
Spain's economy is in the same or worse trouble than the US and the UK. However, unknown to most Europeans, Spain's banking system is being propped up by the European taxpayer, like Northern Rock in the UK.
Posted by mary @ 10:50 AM (366 views) Add Comment
5 Comments
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1. Jonb said...
Does that mean Abbey National is in trouble?
2. handle_it said...
"Does that mean Abbey National is in trouble?" Probably safe to assume that this is seeping into virtually ever area of the financial sector by now. Will they let "Joe public" know about it ? Hmmmm, don't think so. The outlook looks darker by the hour. I think it's too late to be going into gold but at this stage who really knows.
3. harold said...
"How Spain's banks could be the Northern Rock of Europe"
Sure looks that way:
http://www.gata.org/node/5965
4. harold said...
Err, sorry I see that
http://www.gata.org/node/5965
has alreasy been posted.
5. drewster said...
Btw, Abbey is owned by Spain's Santander bank. I'm not saying they're a risk, but.....