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Banco Santander, S.A. Message Board

  • cowley_ed cowley_ed Mar 27, 2013 4:13 PM Flag

    Cjonz

    Since you said you are in Spain please update the board on what you see and what people are saying about SAN and the other banks. It sounds abit like you could have a civil war unless employment improves. Ed

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    • A Belgian point of view: Europe and it's politicians have assisted to what every investor fears: taking away all the confidence. There is no more confidence whatsoever.

      If a deposit at the bank isn't safe, then I ask, what still is?

      IMO when banks in Cyprus open tomorrow (they have been closed for about 7 or 8 working days), things will slowly come through to the market. Big money transfers will be made (they already have before the decision to keep them closed) OUT of Europe, not only out of Cyprus.
      Spain's unemployment, their housing crisis, the lack of confidence (Dijsselbloems right hand and French PM: this is a blueprint of what to do when banks are in trouble) and most importantly: the spread in German - Spain bonds will most likely set the markets back on fire.

      MM have had enough days by now to position themselves.

 

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