Spanish bank downgrades

This topic contains 1 reply, has 2 voices, and was last updated by  rt21 9 years, 5 months ago.

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  • #55062

    Anonymous
    Participant

    Quite a number of reports on this today:

    http://www.ft.com/cms/s/0/08b858e6-457b-11de-b6c8-00144feabdc0.html

    http://online.wsj.com/article/BT-CO-20090615-711294.html

    Key issue are mortgage defaults and other bad loans in the Spanish marketplace.

    It is only going to get worse.

    Santander is one of only two Spanish banks to escape a downgrade.

    Andy

  • #92648

    rt21
    Participant

    It’s interesting to note that Caja Madrid and Santander have lent Real Madrid 150 million euros for their transfer policy

    I think it’s time my wife and I reviewed our savings accounts with Santander’s subsiduaries, Abbey National and Alliance & Leicester, before we catch a cold.

    Richard

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