So, it appears that there may be a ‘run’ on Bankia, Spain’s fourth largest bank – which has just been part nationalized by the Spanish state. This ‘run’ is being denied, predictably, by the government and the bank itself. Indeed, it may well be that people are not withdrawing their money as fast as they can from Bankia. However, the [...]
Spain’s banking sector on the brink
The pound has hit 1.25 against the euro this past week, its highest rate since Oct 2008, as Spain struggles to get to grips with its banking sector and Greece contemplates a euro exit. So what next for the continent in crisis, and the exchange rate? Here is my latest update of the British pound to euro exchange rate, covering [...]
Banking in Spain
If you are thinking of banking in Spain then, in principle, you are spoilt for choice – or are you? There are dozens of banks in Spain including a number of savings banks in Spain called Cajas or Caixas. The latter are often regional and some have very few branches. Spanish banks vary in terms of their exposure to the [...]
QROPS, making the best of your pension in Spain
One of the oddities of pensions is how little Britons tend to know about them – including where the pension is held, its value and what to do to maximise its effectiveness. There is a saying in the pension industry that ignorance about a pension is much like ‘owning a house but not knowing where it is and how much [...]
Crisis in Spain, two different faces of Spain within just a few days
I have just been sent a wonderful YouTube film of a demonstration in Barcelona about the crisis in Spain. It is wonderful (breath-taking really) and shows the best side of Spain and the culture of Spain. The demonstration is set within an office of la Caixa, one of the biggest banks in Spain, and revolves around a by-line stating that [...]
Spain 2011 and predictions for Spain 2012 – a summary!
So, 2011 gradually ebbs away – a year that many people in Spain will be pleased to see disappear, hoping that 2012 will herald better times ahead. Unfortunately, I fear that may not be the case and there are compelling arguments to suggest that 2012 may be more difficult and challenging for Spain than 2011. So, how does one round [...]
Expat evacuation plan for those living in Spain and Portugal
Well, I think if I was in Spain in charge of marketing Spanish property to the British (if there is such a person!) then I would probably finally have my head in my hands. Either that or I would be looking frantically for a wobbly, three legged stool and a short rope. Why? Because the UK press has recently been [...]
Spanish bank scandal
Spain is being rocked, at the moment, by the news that the directors of various Spanish banks have taken huge compensation packages – despite relentlessly driving their own banks to the point of destruction. To everyone’s amazement, some of these packages have been awarded by the directors, to themselves, just days before the Bank of Spain was forced to bail [...]
News in Spain, Spanish bank scandal, dissolution of Spanish parliament
The past week in Spain has seen the dissolution of the Spanish parliament, the second largest seizure of heroin by Spain ever (150 kilos), the nationalisation of three further Spanish banks and continuing tremours on El Hierro, one of the Canary Islands. On the economic side of things, matters show little signs of improving with GDP quarterly growth in Spain [...]
A week in Spain: bullfighting, home repossession demos, outraged Spanish banks, a tourist boom…
The ‘big’ news in Spain for many foreigners is probably the fact that yesterday Catalonia celebrated its last bullfight – after 624 years of bullfighting in Catalonia. The ban actually takes place on the 1st January 2012 but the season for bullfighting in Spain traditionally ends in September. As I have written before, the decision by the Catalans to end [...]
Spain, the future of the Euro and the United States of Europe
For most of us, foretelling what the currency markets are going to do is well beyond our experience – which is why, at Culture Spain, we have brought in Peter Levelle to provide weekly advice on the foreign currency exchange markets. Peter is a foreign currency exchange specialist at Pure FX – which is a company authorised by the Financial Services Authority [...]
Banks in Spain, service with a smile?
I had to grimace recently when I saw an article in El Pais (‘conservative’ national Spanish newspaper) which reported that the economy ministry in Spain is about to issue an order for banks in Spain to clarify their charges to customers. Evidently, along with Italy, Spanish banks are the most costly banks in the EU. This, I am afraid, comes [...]
Financial services in Spain
I am, as anyone who reads Culture Spain knows, a great supporter of Spain. It is a terrific country in which to live and offers holidaymakers a tremendous variety of activities, often within a blissful climate, almost whatever time of the year. However, when it comes to financial services in Spain and legal services in Spain – matters tend to [...]
Mortgages in Spain, Spanish banks and the Spanish property crash
Well, I thought I had seen it all when it came to the Spanish property crash, Spanish banks and their lending – most particularly with regard to mortgages in Spain. That was until I read an excellent article in El Pais (one of Spain’s leading national newspapers). As you will see from this article, which is well worth reading throughout, [...]
THE SPANISH ECONOMY, SPANISH DEBT, SPANISH BANKS AND FURTHER POTENTIAL AUSTERITY MEASURES!
The Spanish economy, Spanish debt, Spanish banks and further potential austerity measures! Part 2 While public sector debt (not the deficit) in Spain is actually relatively low as a percentage of GDP versus other countries such as Italy, Ireland, Greece and Portugal, Spain’s public sector deficit for 2010 will be around 11.3%. So, the Spanish government has announced several austerity [...]
















