Rivero y Soler

This topic contains 6 replies, has 4 voices, and was last updated by  Chopera 6 years, 2 months ago.

  • Author
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  • #57013

    Chopera
    Participant
  • #112542

    Anonymous
    Participant

    http://www.marketwatch.com/story/alteco-mag-seek-creditor-protection-report-2012-10-02

    Interesting to see how things like this amplifies. As I have said earlier this is going to affect countries with high external debt per GDP in the longer run.

    England “500%” and Ireland “1300%” are two sore thumbs but at the same time lots of others have problems.

    http://www.usdebtclock.org/world-debt-clock.html

    For every instance where companies like this goes belly up it will transfer external debt to the normal public debt to gdp. That is why one shouldn’t disregard external debt when the assets they own for that debt is worthless as is the case these days.

    UK area
    RBS

    France
    Natixis

    Germany
    Eurohypo

    Spain
    The rest

  • #112551

    DBMarcos99
    Participant

    An article on this in the Telegraph

    http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9585303/RBS-facing-loss-after-Spanish-property-firm-collapse.html

    I did think of mentioning this the other day. Same as in Greece (where they were heavily exposed to Greek debts) we see RBS again. It’s getting to the point where if you ever see one of the investors is RBS, then don’t be surprised if you see a default or bankruptcy.

  • #112552

    angie
    Spectator

    Apart from RBS, what is the indebtedness of other UK Banks to Spanish property and other debt? 🙄

    Will this now open the can of worms on UK’s and other countries’ Bank debts with overseas property or is this all out in the open anyway? 🙄

  • #112554

    DBMarcos99
    Participant

    @angie wrote:

    Apart from RBS, what is the indebtedness of other UK Banks to Spanish property and other debt? 🙄

    Will this now open the can of worms on UK’s and other countries’ Bank debts with overseas property or is this all out in the open anyway? 🙄

    I understand it’s the banks’ exposure to govt bonds if they default and take a “haircut”, that is of main concern (as with Greece – it’s why there is pressure on Spain to take a bail-out instead of losing access to credit on the markets and then defaulting). A few hundred million is small cheese compared to those exposures.
    Of course, if you have an independent currency like the UK, you can print or QE, to prop up the banks like RBS.

  • #112558

    DBMarcos99
    Participant
  • #112559

    Chopera
    Participant

    RBS = the UK government = you the tax payer

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