We were told in July that 5 Spanish banks had failed the EU 'Stress Test' and that 5 others only passed very marginally.

On October 7th 2011, the credit ratings agency, Moodys, announced that four British banks and 8 building societies had been downgraded.

This is perhaps less worrying than the initial story suggests. Many Expats and Spanish property owners will have savings in the UK but protection is available.

The story is more fully covered in my blog Financial Pages in Spain: Are UK Banks Safe?

Please contact me if your individual circumstances suggest that you need assistance


davidgoodall
Financial Pages in Spain