E U Robbery

[captain cojones]

- it wouldn't take much to start runs on banks in the PIIGS countries. A few pictures on Facebook could escalate very quickly.

 

Certainly not the feeling here. Not in any way or form.

 

We have watched with some amusement the typical reports from the UK gutter press and SKY news talking about a possible "overspill" into banking here.

 

Reports that show to what level of absolute ignorance these mediums have, of what has happened previously, and is happening now in Spain at least.

Edited March 18, 2013 by captain cojones

[Steve Walker]

I'm sceptical that people in Spain are fundamentally less sheeplike and liable to panic than people anywhere else. Of course the mainstream media and the government will be doing what they can to avoid a run on banks, the worry for me would be social media and the blogosphere.

[captain cojones]

They have no need to panic. Probably why they are not. Nobody i have spoken to this morning has even mentioned "runs on banks".

 

I would imagine it is because we know that the 4 financial institutions that needed to be financed, the biggest of which were Bankia, were dealt with some 18 months ago..In other words its done and behind us.

 

The money available was 100 Billion, in the end only 38 Billion was used. But we still have the other 62 Billion held in reserve and available.

 

The other banks were judged healthy, Even Bankia, which was converted into the "bad" bank, is doing well in shedding its liabilities with regard to property assets.

 

Just scaremongering by certain media speculators.

[Steve Burke]

Whether there is any real cause for worry doesn't matter, Captain. Many of the banks that suffered a run in the past were fundamentally sound at the time. As I mentioned earlier it's psychology that counts, not facts.

 

Therefore runs on sound Spanish (or other) banks could happen. Luckily, the chances seem pretty slim - at the moment.

 

One of the most worrying aspects though is the damage done to investor confidence with the 100,000 Euro guarantee being walked all over. Certainly the currency and stock markets don't approve. And investor confidence is one of the main, if not the main, driving force of markets.

[captain cojones]

One of the most worrying aspects though is the damage done to investor confidence with the 100,000 Euro guarantee being walked all over. Certainly the currency and stock markets don't approve. And investor confidence is one of the main, if not the main, driving force of markets.

I agree totally..100%.

[Elton]

http://elpais.com/elpais/2013/03/18/inenglish/1363614554_938735.html

 

Just saw this on the news.

[barry luxton]

the argument re hurting if the u k leaves the e u is hogwosh. The europeon straight jacket is costing millions upon millions, millions of jobs and misery for millions, yet they still do whatever they want, move what ever goal post, bend the referendum, secret ratification with out mandate, vote twice because the first needed tweaking, etc etc, while the 450 million are suffering, at the e u hands, time for either fresh thinking or pull the plug on the one size fits all.

 

no ones happy, not even the russians:

 

http://www.bbc.co.uk/news/world-europe-21839324

Edited March 19, 2013 by barry luxton

[corydoras]

Who gives a flying foxes f*ckstick what the friggin' Russians think?

[barry luxton]

Who gives a flying foxes f*ckstick what the friggin' Russians think?

e u do, they like their money, anyones money for that matter, anything to prop up the socilist dream

Edited March 19, 2013 by barry luxton

[corydoras]

In case you hadn't noticed Barry, you live in a Socialist country, you always have. Get over it.