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Further evidence that a Spanish bank run is underway
31 May 2012 @ 17:47

More evidence that a Spanish bank run is well and truly underway. According to the Telegraph:

Bank of Spain data shows that a net of €66.2bn was sent abroad last month, the most since records began in 1990. The figure compares to a €5.4bn net entry of funds during the same month a year ago.

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4 Comments

Edmund said:
02 June 2012 @ 09:37

We have received several calls and emails from family in the UK asking "Are you OK?" The UK press seems to be making a big deal of the crisis in the Euro Zone (and Cameron is getting booed in the local bars when he comes on the TV), the Germans have a good word for this: Shadenfreude. But the £ has started to weaken against the € recently which may be a sign that the international community thinks that printing money is not the solution and that Germany will save the Euro.

Lizzie said:
02 June 2012 @ 12:24

I've noticed quite a few British locals here withdrawing all their savings from local cajas. They ask and get told to wait whilst the fury on the faces of the bank staff it more than obvious.

If you wish to take your savings out be prepared for a cool reception and to wait a few days for them to sort out the cash.

Better safe than sorry?? It's something I think everyone needs to serious think about.

Carole said:
02 June 2012 @ 13:16

One of the locals told me that the mattresses here were getting fatter! So I withdrew my few savings. I objected to being asked what I wanted the money for and said "building" and yes I got black looks and was charged quite a sum, but I was too angry to protest.

Pedro said:
03 June 2012 @ 10:42

Yes I recently had quite a frosty reception when I closed my acc; with Bankia & sent it to UK far different from the welcoming & pleasant service recieved when I opened the acc:

PS, The reason to send to UK was to buy property as I had my fingers burnt trying to buy off plan, no more Sanish dream.