Spain rescues "broke" Cajasur.

[pigs-might-fly]

The first of many?

http://goo.gl/s2Hi

[IreneD]

Oh, lor'! We have money in Unicaja - should we transfer it to the U.K. do you think? Funnily enough, my OH and I were talking about whether we should or not just the other day. It's not a huge amount but we wouldn't want to lose it...............

[malagaman2005]

It's Cajasur not Unicaja that has gone down the pan so I wouldn't panic just yet.

[spanish_lad]

i have an account with them... i wonder if it will affect me.

[Beryl1914]

I was in there last week and everything seemed the same and nothing was said

[spanish_lad]

yep, me too.. i just wanted to see what everyone would advise me to do.

[julian]

up to 100,000€ is guaranteed, if you have more than that in the caja then....be happy...and move the amount over 100,000 to another bank

[IreneD]

Oh, thanks, Julian! Our amount is a tiny percentage of 100,000 but a lot to us! Good to know it's covered.

I saw it was Cajasur but the bit about the proposed merger with Unicaja made me worry about them.

[anis]

I read the news about the breakdown of merger talks a while ago and was very suprised to see that Cajasur was owned by the Catholic Church.
I wonder what will happen to Unicaja in the light of the breakdown ? Will the Bank of Spain step in to back them up too ?

[pigs-might-fly]

Perhaps they should ask the Vatican Bank to bail them out?
They seem to be good at the dodgy stuff.... http://en.wikipedia.org/wiki/Banco_Ambrosiano

[beachbabe]

Yep, the chairman is/was a priest.

The problems could have been sorted out via a merger. But guess what? That would have meant getting more efficient and sacking a few workers. Brother doodah couldn't possibly make a commercial decision like that.

Spain could well do without this kind of publicity if it doesn't want to go Greek...

[Jim Allen]

Who is the wizzo who thinks that transfering money to another Spanish Bank is the answer
One bank will soon be another.
Casasur are simply the first in to get the hand out

Who will be next. Who will be the next Lloyds T.S.B etc etc

Any guesses ???????
How do you end up with a nice little deposit account in Spain
Open a big one and wait.

Jim Allen