Tag Archives: “Deposit Wars”An Act Of Desperation By Spanish Banks; Bankia Déjà Vu

Mish/ Mike Shedlock – “Deposit Wars”An Act Of Desperation By Spanish Banks; Bankia Déjà Vu – 2 November 2012

Acts of Desperation

Looking for the next major thing in Spain to blow sky high? I have a strong candidate in mind.

Bank deposits are down 154 billion euros this year and banks have resorted to paying unsustainable interest rates as high as 8% to attract money. Continue reading