Forums - "Depositors at Bankia can be absolutely reassured that their savings are safe."

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Posted by shopster on 05-18-12 01:52 AM:

"Depositors at Bankia can be absolutely reassured that their savings are safe."

Spanish bank, Bankia, is denying reports of a run.

Bankia was nationalized about a week ago. Spanish Secretary of State Fernando Jimenez Latorre denied the rumor that 1 billion euros have been withdrawn since the bank was taken over by the government. Bankia shares fell as much as 29% today.

When government officials deny something like this, it usually means it's true. I can't see how the words "Spanish bank" wouldn't scare the bejesus out of any human being.

The bank's president, José Ignacio Goirigolzarri, really sealed the deal when he said in a statement to the Madrid stock exchange, "Depositors at Bankia can be absolutely reassured that their savings are safe."

Oh no, look out below…...........

cheers,

s

__________________
the world is so certain yet i walk on thin ice.

Posted by drsteph on 05-18-12 04:27 AM:

Santander

Opinions on the stability of this one vs. the other spanish banks?

Bankia and the Cajas are one thing - Santander is another.

Opinion?

Posted by shopster on 05-18-12 12:39 PM:

the domino effect is in play.

s

__________________
the world is so certain yet i walk on thin ice.

Posted by Ghost of Cutten on 05-18-12 01:19 PM:

It's funny how they always say the wrong thing. The way to stop these rumours is just to play it cool, say something like "Anyone can come along and take out their money today - we invite you to visit the branch and withdraw as much as you like immediately."

Actions speak louder than words. As soon as people see that everyone is getting paid, any run will stop.

Posted by shopster on 05-18-12 01:32 PM:

lack of trust in banking world wide is now reality.

the suits can spew whatever drivel they have to the masses but it will not make a difference at the end of the day.

s

__________________
the world is so certain yet i walk on thin ice.

Posted by achilles28 on 05-18-12 03:35 PM:

nice. ECB picking winners and losers?

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