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Previously on "Britain - Like Spain but without the weather"
Only made 8.9 billion Euros profit last year though
To date (so far as I know) it's the only bank that's compensated its clients who lost money in the Madoff scam...
It was fun last year reading all the message board "experts" stating that Santander was next, the hedgies had Santander as the next victim, Santander was not as stable as we thought...
Well, not so fun as my bank accounts with Lloyds TSB. I'm reliant on HMG UK to keep it afloat.
Perhaps if the Spaniards did not spend so much time making the English feel unwelcome by ordering them to have their houses demolished, their economy might improve !!
The strength of the Euro though also is a major disincentive to visit Spain for a while.
The Bank of Spain has predicted that the country's rate of unemployment will reach 17.1% in 2009 and 19.4% in 2010.
Spain has the highest unemployment rate in the European Union, with a rate of 15.5% in February, nearly double the EU average, according to Eurostat,
The Bank of Spain is also predicting that the public deficit will hit 8.3% this year and 8.7% in 2010, which is well over the eurozone limit of 3%.
It said that the economy would contract by 3% this year and 1% in 2010.
You see that? That's you that is.
I've been out there a couple of times lately - it is pretty bad already, so I hope it doesn't get too much worse. So many shops closed or with big "70% off" signs in the windows. (sigh)
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