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Don't know. For what purpose?
Spanish bank deposits are currently guaranteed up to €20,000 per account holder (per bank)
Gib banks guarantee up to £18,000.
If you have more than €20,000 in one Spanish bank, you may want to consider moving some out. On the face of it, it would seem that BBVA and Santander are generally considered to be the strongest Spanish banks. The "cajas" are possibly the most likely to run into trouble. But then again, a few weeks ago, most people thought HBOS was one of the strongest in the UK.
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"Get your facts first, then you can distort them as you please"
Mark Twain
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Look Zapatero and bank directors having fun together...
Tuesday, October 07, 2008 @ 6:37 AM
Zapatero announces bankers on the extension of guarantees for savers.
(Our comments are in pink)
The goal of the measure is to increase confidence of citizens, savers and companies in Spain ( much needed)
Attending the meeting with Zapatero: Presidents of BBVA, Banco Popular, La Caixa, Caja Madrid y Unicaja. Emilio Botín ( president of Santander Bank did not attend and sent a managing director... hum! Can you wonder why? )
Bankers remarked on the strength of the Spanish financial system due to strond measures taken by Bank of Spain in the 90´s and during periods of financial prosperity. Bank of Spain have had strong restrictions of structured products and out balance ones. Good to know, at least we have got a good, high quality rubber ring. I wish we had never fallen into the tempest though.
Zapatero is also going to meet with representatives of the so called "social agents" ( trade unions and Employers National Association). Let´s open a list of other " social agents" Zapatero should meet with too:
- Universities
- Journalists
- Lawyers
(...)
Please add your preferences
You can practise your Spanish and, by chance, read this new in Spanish from "El Economista" below:
Zapatero comunica a los banqueros que incrementará las garantías para los depósitos de los ciudadanos en los bancos
elEconomista.es/Agencias | 12:06 - 6/10/2008 Actualizado: 20:28 - 6/10/08
Puntúa la noticia :
Nota de los usuarios: 7.7 (7 votos)
El presidente del Gobierno, José Luis Rodríguez Zapatero, informó a los representantes de seis entidades financieras con los que se reunió en el Palacio de la Moncloa de las medidas que el Ejecutivo adoptará "inmediatamente" para incrementar las garantías de los depósitos en las entidades financieras. El objetivo es reforzar la confianza de los ciudadanos, los depositantes y las empresas en el sistema financiero español, según fuentes de Moncloa.
A la cita, que ha tenido lugar a las 17:00 horas, no ha asistido el verdadero protagonista del sistema bancario español, Emilio Botín, presidente del Banco Santander. En su lugar ha acudido el consejero delegado de la entidad, Alfredo Sáenz. También han acudido los presidentes del BBVA y Banco Popular, Francisco González y Ángel Ron. Han asistido también los presidentes de La Caixa, Isidre Fainé; Caja Madrid, Miguel Blesa y Unicaja, Braulio Medel.
Una reunión "fructífera"
Los directivos consideraron hoy "positiva y fructífera" la reunión con el presidente del Gobierno, José Luis Rodríguez Zapatero, con quien analizaron la situación de incertidumbre creada por las turbulencias de los mercados y a quien trasladaron un mensaje de confianza en la solvencia del sistema financiero español.
Tras analizar la situación de incertidumbre creada en los mercados internacionales con la quiebra y rescate de diversas entidades, primero en Estados Unidos y después en Europa, los representantes del sector financiero incidieron en la salud y solvencia del sistema financiero español, gracias, en gran medida, a la labor del Banco de España de exigir fuertes provisiones, aún en periodo de bonanza económica, y de no permitir la proliferación de productos estructurados ni fuera de balance.
Las mismas fuentes explicaron que el aumento del fondo tiene como objetivo "reforzar" la confianza de los ciudadanos, los depositarios de cuentas y los empresarios en el sistema financiero español.
Un sistema del que tanto Zapatero como los dirigentes de los bancos y cajas españoles coincidieron en subrayar su "solvencia y fortaleza" durante esta reunión, en la que ambas partes confirmaron su "compromiso de protección a los ahorradores e inversores", señalaron desde Moncloa.
Reunión con Rajoy
La reunión de hoy se suma a otras que el presidente del Gobierno pretende mantener en los próximos días para analizar la evolución de la crisis económica. En concreto, Zapatero tiene pendiente una entrevista con el líder del Partido Popular, Mariano Rajoy, que se concretará tras los contactos previos que están manteniendo el vicepresidente segundo y ministro de Economía, Pedro Solbes, y el responsable económico del PP, Cristóbal Montoro.
Además, el presidente del Gobierno tiene intención de mantener otra reunión con los representantes de los agentes sociales.
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Reunión con Rajoy
La reunión de hoy se suma a otras que el presidente del Gobierno pretende mantener en los próximos días para analizar la evolución de la crisis económica. En concreto, Zapatero tiene pendiente una entrevista con el líder del Partido Popular, Mariano Rajoy, que se concretará tras los contactos previos que están manteniendo el vicepresidente segundo y ministro de Economía, Pedro Solbes, y el responsable económico del PP, Cristóbal Montoro.
Además, el presidente del Gobierno tiene intención de mantener otra reunión con los representantes de los agentes sociales.
I presume we, the taxpayers, will be picking up the bill for that extended lunch! 
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Max Kite
Maximeters S.L.U.
www.maximeters.com
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Emilio Botín ( president of Santander Bank did not attend and sent a managing director... hum! Can you wonder why? )
Errr.......because he thinks he's far too important and clever to do lunch with a lowly politician???
.....Zapatero, informó a los representantes de seis entidades financieras.........................de las medidas que el Ejecutivo adoptará "inmediatamente" para incrementar las garantías de los depósitos en las entidades financieras.
Reassuring news for all those of us with millions in the bank, but, whoops, he forgot to say by how much the Executive will raise the guarantees on deposits.
Not that it will make much difference anyway. Pretty soon every European country will be boldly offering 100% guarantees - and then as each country goes bust, they'll be forced to go cap in hand to - who?
Today Russia are helping out Iceland. (although Russia is far from healthy, today suspending trading on the stock market for the 2nd consecutive day). The Russians probably see an opportunity to colonize by stealth. First the banks, then the government, and hey presto, we have a Soviet Republic of Iceland! (I don't think they'll need top worry about the military - with an entire population of 320,000, it should be a lot easier to subdue than, say Georgia.
The UK is gradually going to be taken over by the Arabs. They're already infiltrating the football world (Wembley Stadium going to a UAE/Bahrain consortium next), and since so many clubs are sponsored by financial institutions, it seems logical that the same groups will move in to snap up the bulk of our financial industry when even the govt. can no longer afford to rescue it.
With increasing Arab influence in northern Europe, the Moors will inevitably see their chance to capitalise on the situation and reclaim Granada as their capital, and as much as Spain as they can. The old Gibraltar issue will suddenly become rather irrelevant.
Then there's China, sitting waiting on the sidelines.....
The end of the world as we know it is nigh!
(And just to throw a bit more controversey into the picture, before the authorities break down my door and haul me and my computer off to the funny farm, I believe the Jehovah's Witnesses predicted as much, about 30 years ago. So did David Icke!)
_______________________
"Get your facts first, then you can distort them as you please"
Mark Twain
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Roberto - all my Spanish friends are going on about Nostradamus predicting this as well.
More scientifically, I (and millions of others) have also been predicting this over the last 20 years, when we have seen that EVERYTHING we do involves buying from China without selling anything back. And a friend in the know tells me that they are, by stealth, inveigling themselves into the financial services sector, bit by bit. No Chinese directors of western banks yet, but some institutions are 45% owned by the Chinese. That is a pretty heavy tail with which to wag the dog!
Oh, and we even send our rubbish to China as landfill!
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Max Kite
Maximeters S.L.U.
www.maximeters.com
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Max, I think it was you who pointed out a while ago that the only "UK" bank that appears to be weathering this current storm, is HSBC. And we all know what the H and the S stand for.
_______________________
"Get your facts first, then you can distort them as you please"
Mark Twain
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My last word on the subject - honestly (well....... )
I have to laugh - for years since that old scoundrel Heath, they have all been trying to sell us the lie that the European Community will work together to a common goal, unified in friendship. "The United States of Europe"!!!.
And then - the first sign of adversity and they are fighting like ferrets in a sack, stabbing each other in the back.
At last, we are seeing what the EC really is. True colours at full mast soon? 
_______________________
Max Kite
Maximeters S.L.U.
www.maximeters.com
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Just heard Spain is upping savings guarantees to €100,000
Looks like Iceland may be the first country to have it's guarantee scheme put to the test.
_______________________
"Get your facts first, then you can distort them as you please"
Mark Twain
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Hi roberto i am with hsbc in the uk and i dont no what the h and s stands for ? looks like its ok to leave our money in spain then? bye irene
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Well Roberto.. I am not that apocaliptic but I do think that a sincere, vigorous, sensitive revision on political and financial philosophy needs to be performed by major leading institutions national and internationally.
We may start by our families and our companies...
-What values have been leading ( or suffocating us) for the last twenty or thirty years?
-Were we in the right direction?
-What can we do as individuals, as civil society, to make things differently? To not focus so excesive and obsesively in financial and material welfare?
What other questions you would propose?
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Hi Maridecastro
Your suggestions are on the nail but at least 10 years too late.
A Spanish chap I know from Valencia says that there are now huge parking lots full of hundreds if not thousands of unsold cars that banks have had to repossess. There are Mercedes listing at 66,000€ now NOT selling at 12,000€. Thousands out of work.
We are on a helter skelter and I can't see the end.
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Max Kite
Maximeters S.L.U.
www.maximeters.com
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BRITISH BANKS ITN - 14 mins ago by irene
Alistair Darling is to announce a comprehensive rescue package for Britain's embattled banks on Wednesday.
The Chancellor said he would full release full details of the plan, reported to involve up to £50 billion of taxpayers' money, before the stock markets open.
The announcement follows talks with Bank of England Governor Mervyn King and Financial Services Authority chairman Lord Turner.
Mr Darling said: "The Bank of England has been putting substantial sums into the market today and it is ready to do more when that is needed.
"We have been working closely with the Governor of the Bank of England, the Financial Services Authority and financial institutions to put banks on a longer term sound footing."
Royal Bank of Scotland was the latest banking giant to take a hammering on the stock market as the FTSE 100 struggled to recover from four-year lows.
The index finished the day 16.0 points higher at 4605.2 with RBS stock trading 56.9p down at 91.2p - a fall of 39 per cent and just off its lowest price for 15 years.
Halifax Bank of Scotland shares ended 41.5 per cent lower, down 66.8p to 94p, with Lloyds TSB off 13 per cent, down 33.5p at 225.5p, and Barclays down 9.25 per cent, or 29p to 285p. RBS and Barclays had denied making any such request to Mr Darling.
Across the pond, the Dow Jones Industrial Average was trading 75.4 points lower at 9880.1 at 5pm after Monday's sell-off, which in London saw the FTSE suffer its biggest one-day points drop and £93 billion wiped off the value of leading shares.
Elsewhere, Icelandic internet bank Icesave has stopped UK customers withdrawing or depositing money. It is part of Landsbanki, which has gone into receivership after its board of directors was dismissed.
Icelandic commerce and banking minister Bjorgvin Sigurdsson said Landsbanki will continue to run as normal while the board is replaced. The country has adopted sweeping powers over its banks amid a battered financial system and a currency plunge.
Winners: Friends Provident, up 10p to 85p, Vedanta Resources up 101p to 1005p, SABMiller up 99p to 1033p and Standard Life which closed up 23p to 255p.
Losers: HBOS, down 66.8p to 94p, RBS down 58.1p to 90p, Lloyds TSB down 33.5p to 225.5p and British Airways which ended the day 16.8p lower at 128.2p.
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I cannot see the end either... but we need to trust we will arrive to land and... this is the sea that we have now.
Best of human beings is that we can learn out of mistakes and can transform the reality...
Pull weeds out, drain the land and plant new seeds. Lots of work, and sweat and patience.
It is never too late.
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Hi i like your last post maria bye irene
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Same thought has crossed my mind, Smiley - especially if the bricks are made of gold.
Maria, I love your optimism, but I think we (humans) have made the same mistakes before, and will make them again. We need to learn from other people's mistakes; most of us don't live long enough to make them all ourselves. Oh how I wish now I'd paid more attention in history classes (and economics!)
_______________________
"Get your facts first, then you can distort them as you please"
Mark Twain
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Bricks and mortar will always appreciate in the long term. Who will own them by then is a different matter.
Roberto - I think the aphorism "A pessimist is an optimist who is in full realization of the facts" could not be more true at the moment
but!!! Wait!!! I've just see that our Gord is brining back Mandelson and Blunkett - so everything's all right then! 
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Max Kite
Maximeters S.L.U.
www.maximeters.com
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