24 May 2010

My outstanding financial acumen

Would you care to guess the Spanish bank in which I keep my pennies? The Guardian reports:
The Bank of Spain intervened after CajaSur, a local lender hit by the collapse of the country's property sector, failed to merge with a rival bank.
...
CajaSur is one of 43 not-for-profit regional lenders and while it is unlikely to strain the Bank of Spain's finances, bond markets will view the move as a further signal of the country's difficulties. Spain has already struggled to borrow from the international money markets and further turmoil is likely to spook investors.
...
The Cordoba-based CajaSur was controlled by the Catholic church until the Spanish regulator removed the managers over the weekend, appointing administrators.

Oh shit ...

1 comment:

Anonymous said...

The writing is on the wall... Spain is next for needing a bail out. The German people are already sick at having to support Greece. This keeps up and there won't be a Euro as the Germans start to demand the Deutschemark back. Having one common currency and interest rate across a whole continent was never a good idea.

It looks like Gerald Celente's "Trends 2010 Predictions" could be coming to pass!!!