tag:blogger.com,1999:blog-22301740.post2399262170611880416..comments2024-03-26T09:49:07.212-07:00Comments on The Scratching Post: Odds and EndsK T Cathttp://www.blogger.com/profile/10259428595745509790noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-22301740.post-81074716191623978002012-09-05T19:55:36.209-07:002012-09-05T19:55:36.209-07:00The Spanish banks hold Spanish national bonds. It ...The Spanish banks hold Spanish national bonds. It doesn't look like there's any way the government of Spain can service those debts. That means Spanish banks are in big trouble and Spaniards with sense should be getting out while they can.<br /><br />Which they are. Spanish banks lost 7% of their deposits last month as people took their Euros out and moved them elsewhere.<br /><br />As for the Peseta, that's what you'll get if and when Spain leaves the Euro.<br /><br />Moving to the UK: out of the frying pan and into the fire, if you ask me. I guess the guy didn't want to cross the Atlantic.K T Cathttps://www.blogger.com/profile/10259428595745509790noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-78995138073188905002012-09-05T18:52:51.114-07:002012-09-05T18:52:51.114-07:00Devalued pesetas? I thought they got rid of peseta...Devalued pesetas? I thought they got rid of pesetas. Or is he talking about after leaving the euro?<br /><br />That's one aspect I'm having trouble understanding. A euro is a euro is a euro. I think the reason people move their money from one country to another is not the euro's value, but their country's ability to hold onto them. There's no FDIC to bail you out when your country's banks go under. Right?<br /><br />I know the Brits loved to holiday in Spain, but why are the Spanish moving to the UK? Haven't they heard of the "emergency" taxes on anybody with any money? Why isn't there an influx to Switzerland, or even the eastern european states that are doing well (there are still some, aren't there?)?tomnoreply@blogger.com