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Many of us have posted on here in the last 3 years about how banks in Spain have been hiding their property losses.
Come upance time. More to follow no doubt. 🙁
http://www.telegraph.co.uk/finance/financialcrisis/9255621/Spain-nationalises-Bankia-as-euro-crisis-escalates.html -
Like a lot of organisations in Spain, their Banks are somewhat dodgy and always trying it on with customer charges, rather like many of those agents, developers and lawyers in the boom days 😆
We opened an account with Solbank, had a large credit with them and every month they tried it on with punitive charges which we always had to fight to get cancelled out. Exhorbitant process charges, even receiving of monies from UK, worse charges to send monies back, charges for breathing or smiling, you name it they charged for it. Needless to say we were mightily relieved to get all our funds out of Spain with profit thankfully, and back to the UK’s slightly less dodgy Banks. 🙄
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There was talk last night after Question Time and in The Papers on Newsnight about the Spanish banks still liable to cause mayhem for UK Banks and others when they are forced to clean up and make transparent their past dealings especially in property. The thinking was that when one goes ‘Bang’ contagion will spread to the Banking sector generally.
Re Solbank, I’m glad others here felt the same about this Bank, it took a while but we beat the buggers in the end and they ended up paying us interest 😆
Unfortunately, one has to take a ‘dog with a bone’ attitude nowadays, you generally win through in the end! 🙄
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