Friday, May 18, 2012

Meanwhile there is a queue outside santander near me

Barclays Global Research Head: Greek Euro Exit Likely

Greece is likely to leave the euro zone by the new year after Europe crafts a plan for an orderly exit, Barclays PLC's (BCS) global head of research predicted Thursday. Speaking at a Bretton Woods Committee conference, Larry Kantor said Barclays couldn't develop a scenario on paper for Greece to return to fiscal sustainability and so it is "inevitable Greece will have to exit the euro zone."

Posted by mark @ 09:34 AM (3257 views)
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33 thoughts on “Meanwhile there is a queue outside santander near me

  • mark wadsworth says:

    If I had money in a Santander account, I’d seriously think about withdrawing it. Not because I don’t trust the government’s £85,000 guarantee but merely for the fun of winding them up.

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  • I do hope that Greece is kicked out quickly then perhaps we can look forward to a European recapitalization plan from the EBC.

    At this point I feel that there is little else that can be done except for Greece to be kicked out then the EBC to print money so that European black holes can be filled. Obsequiously this needs to align nicely with the new bill capping government deficits to 3%.

    We could possibly see Europe being fixed within the next 12 months. Where would this leave the UK?

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  • Don’t forget if they do recapitalize Europe with non interest bearing freshly printed cash (because there is no other option) the UK will be shown up for what it is.

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  • if Greece leaves, so will spain and italy, ireland would too if they had any sense

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  • Spain, Italy and Ireland at least have ‘some’ discipline and some productive industry so it would make sense for them to stay in it.

    IMO, Germany and Greece should leave. Leave Spain, France, Italy etc. in. There economies are well suited.

    Greece does not fit in to with the rest of the Euro members well.
    Germany should leave because there country is too strong since they did not have a property bubble and associated issues.

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  • Closed my Santander account this morning! Don’t want to risk the pfaff of the guarantee scheme (which apparently takes a month deliver, if they honour it).
    N

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  • I am moving to Galway next month and will be keeping my savings safely in my UK £ account. I will be working for a multinational, so if the Euro does breakup I ‘should’ be relatively safe.

    I think Greece will be expelled then EBC will print, things will stabilize for a while.

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  • ontheotherhand says:

    I’m off to Athens to sit outside the ATMs and sell them slices of timeshare in London property – it never goes down.

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  • London property – A fools paradise

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  • I took all of my savings out also – again, I can’t be bothered with the hassle of getting the money back, even if they do fold.

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  • cant get money out of santander ATMs went to get my last bit of savings to move to another bank

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  • mark wadsworth says:

    At my nearest Santander the riot police and fire brigade are standing outside. I can see Mr G angrily waving his passbook and other desperate savers are throwing rocks and Molotov cocktails at the building. Apparently the CEO of Santander has thrown himself out of the window of his tenth floor office.

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  • I keep my cash primarily in NS&I because there is zero change of them going bust along with the associated hassle of reclaiming your money.
    It also keeps my cash out of the bankers hands so they can’t use it to push up house prices and commodities.

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  • Yep, just pulled all my savings out of Santander too……….. I like a nice bandwagon I do……….

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  • sibley's b'stard child says:

    My house is my ATM, just last year I withdrew 10k.

    Laughing all the way to the bank.

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  • I was chatting to a work collegut this morning. He (in his mid 50’s) was talking about withdrawing some of the £100k ‘profit’ they made from buying a house 14 years back.
    Makes you sick.

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  • MW lowering the tone again lol

    I personally think the bank is trying to stop a run

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  • mark wadsworth says:

    Mark, I’m just reporting things as they happen. A crack squad of Spanish police were flown in an hour ago and they have dispersed the crowd of angry savers with water cannons and rubber bullets. The fire brigade have nearly put out the fire caused by the petrol bombs etc.

    Seven of the savers were taken to hospital and the rest went to the Tesco Metro up the road to buy some snacks for the journey home. Their Santander bank cards were rejected at the till and they had to pay cash.

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  • I’m also burying gold coins in the garden…

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  • well i have an ISA with santander. I tried to sort somthing out as i “failed” security since i apparenly gave them the wrong NI number (which was the right one, of course!).

    And one which they must have right or else they couldn’t have assumed my isa from the previous provider. I was told that I had to go to a branch to correct their mistake. In any case I telephone today (this thread reminded me of it) as i dont think i should be punting around their branch network to correct their mistakes. I have better things to do…. like spend some time here! :).

    anyway not only did the complaints team apologise but I got offered a gift with a choice of:
    Fameous Grouse
    Fruit “hamper”
    Sweet “hamper”
    Some Molton Brown smellies
    Thorntons
    Or some flowers….

    So folks now you know where your cash is going!!!

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  • mark wadsworth says:

    I’ll be busy tonight digging up NickB’s back garden!

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  • MW save your energy get a metal detector

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  • It was a rubbish ISA anayway. 0.0003% interest or something like that. NSI similar, and now that’s going postal too… call me old fashioned but I like the bank to have a physical presence that you can beseige with a mob bearing pitch forks… online or postal could vanish like a soap bubble and what does the mob do then?!

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  • mark wadsworth says:

    For tomorrow, I’ve pencilled in a trip into town to buy a metal detector. Do Tesco Metro sell metal detectors?

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  • TC you know you were talking about some bloke doing charts and saying that everythings gonna be alright in a Bob Marley styleeee, can you post the link. Cheers!

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  • Tescos Smescos

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  • I’ve forgotten my tin foil hat so I can’t take part in this thread.

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  • MW not the one at Wanstead, try the one at Leytonestone… or if you can risk it… Beckton..

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  • mark wadsworth says:

    Techie, yeah the big one in Leytonstone might stock them.

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  • Letthemfall says:

    Isn’t Santander a ring-fenced subsidiary? As safe as houses, or at least any UK bank, allegedly.

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  • letthemfall says:

    Isn’t Santander a ring-fenced subsidiary? As safe as houses, or at least any UK bank, allegedly.

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  • “never believe anything until it’s been officially denied”!!!

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  • my only comment is …. when greece entered the eurozone … was there a magnificant rise in stock prices … directly attributable to greece’s arrival? If not .. then it’s total b*llocks that greece leaving .. has any significant affect .. and this is just a convenient smoke screen. Further more .. if they can ring fence bad debts and create a fire wall with bad banks .. then surely they can create a “bad country” and ring fence that accordingly.

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