- Prison Planet.com - http://www.prisonplanet.com -
Panic Withdrawals At Santander Bank After Credit Downgrade
Posted By admin On May 18, 2012 @ 3:24 am In Money Watch | Comments Disabled
UK Daily Mail 
May 18, 2012
Millions of British bank customers felt the effects of the eurozone turmoil today as Santander became the latest giant to be hit by the debt crisis.
The High Street chain saw its credit rating was slashed as anxious consumers in Spain withdrew £1bn – sparking fears of a run on the country’s banks.
The move sparked fears of a knock-on effect on credit which could see borrowing costs rise in the future.
The shock downgrade compounds fears of contagion spreading from Greece and is the first time that the crisis now engulfing the ailing eurozone has been felt directly on British shores.
Furthermore, hundreds of UK institutions that have lent on the interbank market to Santander could be rocked if the Spanish lender becomes a victim of the worsening single currency disaster.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/panic-withdrawals-at-santander-bank-after-credit-downgrade.html
URLs in this post:
 UK Daily Mail: http://www.dailymail.co.uk/news/article-2146112/Spains-banking-crisis-rocks-Santander-UK-new-worries-British-customers-credit-rating-blow.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.