RBS seems to have been lending to many companies in Spain and Dubai, should we be worried. I heard something on radio whilst driving and they said if Spain falls then the UK will have serious problems 😕
In a global world. It’s difficult to compare two countries, in this case Spain and the UK.
Spain’s construction industry failed, and the UK’s banking industry failed which are both ongoing disasters. Spain is left with empty houses that nobody wants and the UK has banks which are technically insolvent without further government bailouts.
Today’s financial press is panicking again and the big question is ‘who is going to lend money to countries that need to borrow?’
Spain, at least, doesn’t stand alone, it has its Eurozone partners; where does the UK turn?
Please don’t suggest the US, they’ve already got the highest debt in the world.
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