Does anyone know the maximum amount of euros that Spanish banks protect in case of the bank going bust ?

Spain is 16,000 euros as is france germany Uk is 50,000 GBP and best is Ireland with 100,000 euros (irelands was just sing in law in last 10 mins)

jurdyr - 02 October 2008 05:34 PM

Spain is 16,000 euros

Sorry but it’s not so. Last Monday Ministro Pedro Solbes declared that the Consorcio that would intervene in case a bank goes bankrupt (USA docet 😖 ) covers up to 20.000 euros for each account.

Fate_06 thanks for that , must got old law on the net and posted up that not bad 20,000 , now

jurdyr - 02 October 2008 09:03 PM

Fate_06 thanks for that , must got old law on the net and posted up that not bad 20,000 , now

Well ... it depends ... in Sweden it’s 26.000 euros, for example.

And if your have deposited/saved up more money ... what??? After all 20.000 euros is NOT such a huge amount if it’s all you get ... Friends working in diffent banks said there’re already people moving money to new accounts (in different banks) keeping them below 20.000 euros. Let’s hope the intervention of the Consorcio is not necessary anyway ... never.

Spanish Prime Minister wants to instil public confidence in the state of Spanish banks and savings banks.

The Spanish Prime Minister, Jos? Luis Rodr?guez Zapatero, wants to instil confidence in the public regarding the economic situation, but he does now finally appear to be far more aware of the seriousness of the situation after a period of playing down the dangers. 

has asked for a daily report from his Minister for Tax and the Economy, Pedro Solbes, on the financial situation of Spanish banks and savings banks.

The opposition Partido Popular has for some time commented that the strength of Spanish banks is merely relative to others now in trouble. Yesterday the PP leader Mariano Rajoy called for the amount of money guaranteed by the Government in a bank account to be increased from the current 20,000?.

Pedro Solbes has already said he wants to do that, ideally with Europe, but if they do not react then he will take independent action.

Video crisis subprime en clave de humor

http://www.invertired.com/quimu/videos/25/34

well there make more scence that the banks and leaders do very big names for a fund

simonaitch - 02 October 2008 05:27 PM

Does anyone know the maximum amount of euros that Spanish banks protect in case of the bank going bust ?

Are you resident in UK?  It’s possible that the UK scheme will make up the difference.  For example I have some money in an Icelandic bank.  Under Iceland’s system, I would get up to 20k euros covered by them, and any difference between that and the ?35,000 limit made up independently by the UK scheme (which will be going up to 50k shortly).  I assume the same would be true of a deposit in a failing bank anywhere, but you’d need to check that out before depositing.

You know what would happen here if you got 20,000 Euros in spanish banks and went to the wall .... you have show all you paper work , Nie residencia and so on to told your not spanish and your paper work is not fill out so you cant have you money back are it be Ma?ana ,

A los tontos no les dura el dinero

saw this early on ...... make you think
If you invested a ?1000 with northern rock 12 months ago.today it would be worth today ?4.95.
If you invested ?1000 with HBOS a week ago it would now be worth ?16.50.
If you invested ?1000 with XL liesure it would be worth less than ?5 today.

But if you bought a ?1000 of tennants larger a year ago and drank it all. then took the cans back to the alloy recycling plant you would get ?214.
so based on the above statistics.the best current investment advice is to drink heavly and recycle

In Bank Santander they are posting a document saying the Spanish Govt have increased protection to 100,000 euros per account per institution. I have not heard this on any news and not seen it in any other banks.

simonaitch - 10 October 2008 05:09 PM

In Bank Santander they are posting a document saying the Spanish Govt have increased protection to 100,000 euros per account per institution. I have not heard this on any news and not seen it in any other banks.

Last week the EU decided to increase to 50.000 euros the refund in case of bank bankrupt, leaving each Country free to increase it up to 100.000. Obviously Mr. Zapatero declared immediately that in Spain it would be up to 100.000 ... but so far nobody knows where he’d eventually get the money. You can read these news in any Spanish newspaper ...

Santander Central Hispano is the biggest Spanish banking group and one of the biggest in Europe. Notwithstanding ... in recent times it’s been buying foreign banks as well as Spanish ones (Banesto in Spain and Abbey in UK, for example) ... but nowadays it also means that it might be involved in the bankrupt of other, even foreign, banks. That’s why I gave up my idea of opening an account with the bank online OpenBank (which belongs to the same group).

think there wost to come befor think get better .......