Will the Spanish up the guarantee on savings?

This topic contains 9 replies, has 6 voices, and was last updated by  Anonymous 9 years, 1 month ago.

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  • #54376

    Anonymous
    Participant

    Well with the little boys Ireland, Greece and Denmark all increasing the safety net to 100% and then yesterday’s news that the Germany will follow suit.

    When will Zapertero act, would he ever dare to guarantee the Caja’s which he must know are in dire straight’s as the money for nothing season has ended (no pun intended…!).

  • #86676

    Anonymous
    Participant

    ian ok

    hard to see how any country can avoid it now. Why would anyone keep their money in an unsecured account if they have an alternative? Heaven know what this will lead to in Spain though?

  • #86678

    Anonymous
    Participant

    Ian / Goodsitch,

    It looks like various governments are preparing to buy large stakes in their countries banks, the intention being to get lending happening again. Not sure this will work. After all, accountants, bankers etc have been inventing rafts of ridiculous financial schemes, designed to give the appearance of financial stability – rather like an inverted pyramid. However, the pyramid is now collapsing.

    Probably best to just let it go and then re-design a new banking system with proper controls and regulations.

    I see the Euro is starting to slide..

  • #86679

    Anonymous
    Participant

    @goodstich44 wrote:

    Heaven know what this will lead to in Spain though?

    Ah, but goodstich – Spain has come up with a ‘wicked plan’ to get loadsa money into the banks……see the latest news!! 😉

    https://www.spanishpropertyinsight.com/forums/viewtopic.php?t=3668
    .

  • #86681

    Anonymous
    Participant

    @maximus wrote:

    I see the Euro is starting to slide..

    I knew I should have converted to Swiss Francs. 🙁

  • #86684

    katy
    Spectator

    Spain will no doubt announce an unlimited guarantee on bank savings. Whether they will pay out in your lifetime is a different matter 😆

  • #86689

    Anonymous
    Participant

    ……so Germany are now not going to guarantee 100% savings. That should stem panic for a while i would think? I still find it hard to believe many will feel safe with money in a Spanish account though. The word of Spanish law and reality?. Be afraid, be very afraid!……just my opinion of course.

  • #86703

    Anonymous
    Participant

    Be afraid, be very afraid!……just my opinion of course.

    I’m alright – I’ve only got a mortgage.

    I pity all those poor sods with savings. Get a mortgage – that’s where the smart money is. 🙂

  • #86714

    Anonymous
    Participant

    maximus

    nice one, i quite agree. Much better way round!

  • #86718

    Anonymous
    Participant

    “I pity all those poor sods with savings.”

    The poor sods with savings managed to earn 11.4%/year by not buying a house in UK.
    And much more by not buying a house in Spain.

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