Thanks for that Claire. I find it staggering that after all the hoo-hah surrounding Greece’s bailout – with all those EU leaders’ meetings/condemnations/terms&conditions/restrictions, public humiliation, German outcry etc. that went with it – plus comments like “that will teach the lazy Greeks to live recklessly above their means” ….even on this forum, that Spanish banks have calmly and quietly been borrowing these eye-watering amounts monthly that make Greece’s loan now seem like a cheap bun at a WI teaparty, and nobody seems to be saying a word. 😕
Fitch credit rating agency downgraded its long-term notation for Spanish bank Banco Popular by two notches on Wednesday……
Now that bank name seems familiar (Banco Popular Hipotecario is the mortgage-lending arm of Banco Popular) ring any bells Claire? 😆
That will teach them to lend to developers involved in building dodgy developments with dodgy building licences!