As you walk through a street in Catalonia you can find from time to time an office from Bankia. As Bankia is new worlwide for the huge money one wonders if the rest of officies in the street won’t be worlwide news the next day or next week.
In Catalonia we have a strong bank called Caixabank. Before it was La Caixa. Is logo comes from Joan Miró and it is very beautiful. Wherever you go in Catalonia you will find an office of Caixabank.
I have a doubt. If the situation of Bankia is so bad and we know just now who tells me that in the following days the situation of the rest of Spanish banks is not going to be shown too to be bad. After all the real state bubble that happen in Spain could have harmed a lot of banks.
It is obvious that what has happened with Bankia is going to affect the rest of the banks because trust will affect the whole system.
During years and years the real state brought a lot of money to banks and cajas. But I never heard about astronomical quantities of money given from banks to the state. Now that we have losses then it is the citizen who has to put the money.
This is quite weird.
Meanwhile far away in Berlin they live the dream of paying zero rates. This is the end of Europe as I thought. I have read that fewer German people travel to Greece. Soon it will happen the same with Spain. We return back to the stupid times of a Europe divided in states.
This is the end of Europe as we know it.