Re: Re: Investor confidence in Spain improves says WSJ


It can’t be a coincidence that this news is breaking on the same day as results of the revised bank stress tests are due to be published.

I feel that a run on Cam, similar to that on Northern Rock, is on the cards.

Even without one the news is worrying. Cam were in advanced merger discussions with three other cajas. These have fallen apart. I can only assume that the other cajas looked at Cam’s books and shied away from the deal. This also leaves the government/BoS strategy of merging the smaller cajas into larger more sustainable businesses in disarray.

Hold tight, it could be a bumpy ride.