Mark, the very fact that the market thinks they are safe would worry me, after all what do the market know in these times? They’ve so often got it totally wrong. It’s often said that people should do the opposite of what the market thinks as so many pundits talk markets up or down to suit their own positions.
IMO, Santander have taken on too much and might come a cropper later, as Claire says ‘maybe put your money under the mattress’.
Santander may be exposed to a lot of Spain’s financial problems with construction, what might come out of the woodwork?