# Santander bank



## Ilovepatnevin (Feb 26, 2009)

Suppose the Spanish economy really crashes (e.g. default, expulsion from the euro etc) and the Spanish banks get into a crisis. Does anybody know how this would affect Santander in the UK? Is it a separate entity that could be protected by the British government or is it likely to go to the wall?


----------



## Joppa (Sep 7, 2009)

Ilovepatnevin said:


> Suppose the Spanish economy really crashes (e.g. default, expulsion from the euro etc) and the Spanish banks get into a crisis. Does anybody know how this would affect Santander in the UK? Is it a separate entity that could be protected by the British government or is it likely to go to the wall?


Santander is the biggest bank in Eurozone and one of the biggest in the world, so Santander going to the wall is pretty remote. 
If you are still worried, this article should reassure you:
http://blogs.telegraph.co.uk/financ...vers-safe-from-euro-crisis-says-spanish-bank/


----------



## nigele2 (Dec 25, 2009)

Joppa I admire your confidence but IMHO Santander being large will not help it. 

However UK based deposits are automatically protected to £50000 (£85000 from next year). If you have more than that in any one bank (not account but bank group so make sure you know who owns who) you are either very confident, a bit forgetful or a multi millionaire . Santander are registered with the FSA so their clients in the UK are protected).

The £85000 rise is to bring the UK into line with most European countries who offer E100000 protection. I guess if Spain does go 'toes up' then you are likely to receive compensation in new pesetas that may devalue very quickly 

As for the UK gov buying another bank - I think they have enough already 

Ilovepatnevin - what a great blue Pat was in the 80s :focus:


----------

