Jump to content
House Price Crash Forum
interestrateripoff

Is There A European Bank Run Under Way?

Recommended Posts

hmmm... Santander....

SV101089-highlights.jpg

It's the same round my way too. Two Santanders directly opposite each other. I'm not a shareholder or anything there so I don't really care but if I was I'd be pretty much demanding they consolidate the two branches into one. I want my dividends, damn it!

Share this post


Link to post
Share on other sites

hmmm... Santander....

SV101089-highlights.jpg

All that picture needs is several starbucks next to each other as well.

Did they used to be B&B and A&L on that street?

Edit to add:

Is that a 4th at the top of the picture?

Edited by interestrateripoff

Share this post


Link to post
Share on other sites

Santander is big player in the UK. It bought Abbey and Bradford & Bingley I think.

I'd suspect, along with Soc Gen, it is the most European bank at risk . . . but I'm sure other posters here will know more.

Closed my ISA with these guys about 6 months back. Got caught out by Icesave but luckily GB was stupid enough to reimburse me. I've not got any specific info but felt it was best to move early this time.

Share this post


Link to post
Share on other sites

one thing that is sure is that bank deposits are moving out of Cyprus and Greek banks... and SocGen has a big stake in Greece.

Share this post


Link to post
Share on other sites

Damn. We have a joint savings bond thing with Santander, it's only a year so it's due at start of October, but if we withdraw it before then we lose out on the interest.

So now I don't know what to do.

Withdraw it now and lose the interest anyway, but have money to hand,

or leave it there and risk having to faff around getting the money back through the government scheme thing if they do go down (and lose the interest anyway).

Of course the other possibility is they don't go bust and it's all fine!

Anyone know how long it takes to get your money back if the bank does go bust? (I seem to remember after ICESave fiasco they were going to change the system so you got your money in a few days, rather than months.)

Share this post


Link to post
Share on other sites

IMHO The worst case i the UK: The cash machines may stop for a number of days but as prev poster says the UK will print the required money and inflate there way out if things go mad (like last time when the currency fell 30%)... your money will be worth less (like last time) but you will still be able to afford eat.

Edited by AteMoose

Share this post


Link to post
Share on other sites

IMHO The worst case i the UK: The cash machines may stop for a number of days but as prev poster says the UK will print the required money and inflate there way out if things go mad (like last time when the currency fell 30%)... your money will be worth less (like last time) but you will still be able to afford eat.

Well exactly.There are UK banks currently making a loss eg Lloyds/RBS, but the government has pledged to keep the plates spinning. End of the day it's all bits of paper that the government prints, and they can print more. Just you won't be able to buy as much as before abroad. I'm getting envious of those with an allotment!

Share this post


Link to post
Share on other sites

IMHO The worst case i the UK: The cash machines may stop for a number of days but as prev poster says the UK will print the required money and inflate there way out if things go mad (like last time when the currency fell 30%)... your money will be worth less (like last time) but you will still be able to afford eat.

Currency isn't needed with credit cards.

The govt I would suspect has plans to take over the visa/mastercard network, but only in an emergency....

Physical cash in an electronic world isn't all important.

Share this post


Link to post
Share on other sites

http://whistleblowerirl.blogspot.com/

In Sept. 2007, fourteen months before Ireland's bank bailout, I resigned from my position as the Risk Manager of UniCredit Bank Ireland. I did that in order not to incriminate myself. I have spent the last 3 years seeking justice. Finally, on Feb. 23rd., 2010, I was fortunate to have Senator David Norris raise the matter in Seanad Eireann (the Irish Senate), and request a response from the Minister of Finance, Mr. Brian Lenihan. Senator Norris concluded by stating that:

......

there seems to great confusion about what the word 'confidential' means. So much so, that the Central Bank officials asked for the meeting to be adjourned. They then left the meeting room and returned only after they check what the Central Bank means when it says 'confidential' (Did they call Honohan's office? Or yours?!?). The conclusion was that merely my identity would be regarded as confidential, not the facts to be disclosed. Therefore, I could potentially be facing criminal charges on account of what transpired at UniCredit Bank Ireland in 2007.

Yes, I, the person who officially reported a liquidity breach of 1,900% (one thousand and nine hundred percent) to the Financial Regulator, could be facing criminal charges. The fact that this was a year before the entire Irish banking system ran dry of liquidity and required the infamous late-night last-minute guarantee, does not seem to matter. No one is to blame for that, and no one has been convicted of any criminal charges since. The Irish tax payer, and every tax payer trough-out Europe is paying for it.

This is allegedly what one of the banks got up to in Ireland it would appear.

Share this post


Link to post
Share on other sites

Zerohedge came out with this in the past hour.

SocGen, Unicredit On "Brink Of Disaster"?

'Over the past 48 hours we had heard pervasive rumors that at least one, maybe more, banks in Europe are on the verge of collapse. Our thought was, naturally, Dexia, which is the modern equivalent of AIG, not to mention the bank most rescued by none other than the Federal Reserve. Well, we were wrong. And if the Daily Mail is correct, the two banks about to kick the bucket are French SocGen and Italy's UniCredit.'

More: http://www.zerohedge.com/news/socgen-unicredit-bring-disaster

Share this post


Link to post
Share on other sites

http://ftalphaville.ft.com/blog/2011/08/08/646536/the-other-ecb-italian-backstop/

Seen on the Bank of Italy’s balance sheet — a marked jump in Italian bank borrowings from ECB liquidity operations in July:

...

It’d also be interesting to see how much of this fresh collateral now pledged at the ECB was in Italian government paper. Interesting, and a bit disconcerting.

Italian banks safe as houses....

Share this post


Link to post
Share on other sites

I am in santander closing my miniscule isa down (with zilch interest), and person behind me is also closing his savings and current account!!

Are we at the beginning of european bank run?

Share this post


Link to post
Share on other sites

I am in santander closing my miniscule isa down (with zilch interest), and person behind me is also closing his savings and current account!!

Are we at the beginning of european bank run?

I advised my Dad to close his Santander account six months ago. He did.

Share this post


Link to post
Share on other sites

I am in santander closing my miniscule isa down (with zilch interest), and person behind me is also closing his savings and current account!!

Are we at the beginning of european bank run?

Well if you get all your money, you are close enough to the front of the run to make no difference.

Share this post


Link to post
Share on other sites

I am in santander closing my miniscule isa down (with zilch interest), and person behind me is also closing his savings and current account!!

Are we at the beginning of european bank run?

I closed my only Santander account a few weeks back. They told me they could not do it there and then for some ******** reason or other. I merely raised my voice to almost shouting level with various complaints about them. Hey presto as people queing listened the bastards miraculously managed to close it.

There were also a pissed off couple in their 60's trying to close an account, they were been given the run around too. :rolleyes:

I think a lot of people are pissed off with customer service at Santander and so are bailing out.

Would be no surprise if banks runs did start, I've been on at a relative to remove significant savings from a Irish bank for some time.

Share this post


Link to post
Share on other sites

Just emptied my YBS ISA, not because I'm worried of a failure, but because they have started offering B2L mortgages, and I ain't financing my own slavery!

Well put...

Share this post


Link to post
Share on other sites

Just emptied my YBS ISA, not because I'm worried of a failure, but because they have started offering B2L mortgages, and I ain't financing my own slavery!

YBS do seem to be going back to the traditional Northern 'Make a loss on all individual mortgages but make up for it with volume' approach.

Share this post


Link to post
Share on other sites

I am in santander closing my miniscule isa down (with zilch interest), and person behind me is also closing his savings and current account!!

Ever thought you might be pushing a lot of nice girls on to benefits?

4426192533_1fd979db8c.jpg

Share this post


Link to post
Share on other sites

I've just (in the last couple of minutes) transferred a big chunk of savings from Santander..... I've been dithering on this for a while now.... decided the risk just isn't worth it.

Gone into my Smile (Co-Op) account... should be a bit safer at least.

Share this post


Link to post
Share on other sites

Ever thought you might be pushing a lot of nice girls on to benefits?

4426192533_1fd979db8c.jpg

I think they would make better stay at home wives than employees of the banks, they'd only drive up property prices and waste money on clothing, when they look just as good without.

Share this post


Link to post
Share on other sites

http://www.zerohedge.com/news/greek-bank-run-continues-unabated-%E2%82%AC38-billion-june-outflows-bring-total-deposit-base-mid-2007-l

Who could have possibly imagined that in the month of June, Greek banks would see yet another major deposit outflow. Alas, according to just released NBG data, June deposit outflows by households and corporates amounted to €3.8 billion, bringing the total down to just €188 billion. This is a whopping 20% decline in total Greek bank deposits since January 2010. It also means that each increasing outflow merely plants the seeds for even more outflows in the next month as less and less confidence (and cash) remains in Greek banks.

Still Greek banks must be a buy? The ECB must be relieved to be providing support for these institutions.

Share this post


Link to post
Share on other sites

I closed my only Santander account a few weeks back. They told me they could not do it there and then for some ******** reason or other. I merely raised my voice to almost shouting level with various complaints about them. Hey presto as people queing listened the bastards miraculously managed to close it.

There were also a pissed off couple in their 60's trying to close an account, they were been given the run around too. :rolleyes:

I think a lot of people are pissed off with customer service at Santander and so are bailing out.

Would be no surprise if banks runs did start, I've been on at a relative to remove significant savings from a Irish bank for some time.

Although there's an absolutely ghastly character (a 'I can't be arsed' type bloke of about 30) at one of the branches I use, I find whenever I deal with Santander Customer Services by mail they are really GOOD. Honestly, proper letters and decent service, I was surprised because people on various forums moan - but they were really good when I had a problem a few months ago. LTSB ditto as it happens. Perhaps I just get lucky with staff each time, but no complaints at all

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.