If Bankia Were a Used Car, It Would be a “Cut and Shut”
The heading of this post has just been said by BBC financial correspondent on the BBC Radio 5. I like it. He also said that Bankia needs €19billion immediately and the Spanish banks together need €100billion.
I would move everything out of Santander now, as when this Spanish idiocy goes bang, it will be very difficult, as those left in this game of Spanish musical chairs will be exiting at the same time.
But of course banking with a company headquartered outside the UK, breaks one of my golden rules of banking. Or in fact my late friend’s rules.
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