A friend of mine works for Lloyds Bank in the City. Lloyds have to report to the FSA on their finances every 3 days because we all bailed them out. The FSA have now told them to report daily. Why? Because there is another Spanish Bank in trouble with knock-on effect and maybe Lloyds are involved. We will see!!
just read that Spain has admitted today “that foreign banks were refusing to lend to some of its banks, but denied it was on the brink of seeking a Greek-style European financial rescue”. Well with Spain having to refinance billions of loans in the next month it will be interesting to see whether they have to seek eurozone aid.