I guess next few weeks will be difficult for banks in Spain.
Looks as if the vultures are in for a good feed, Spanish bank prices today 22/10/08
BA.POPULAR 7,00 -8,02
BA.SABADELL 5,17 -2,08
BA.SANTANDER 8,27 -10,88
BANESTO 9,89 -4,44
BANKINTER 8,79 -2,87
BBVA 9,04 -9,89
LOOKS LIKE SPAIN IS THE NEXT MARKET TO BE SOLD SHORT.
Have just been informed by a Spaniard that todays big fall on the Madrid market is the fault of the Argentinians they are plannintg to nationalise pension funds there, as Spain is a big investor in Argentina down goes the market.
Not sure if the Argentinians are to blame or not but it makes a change from Northern Europeans and the USA being blamed.