Live News From Spain As It Happens

Colin Stewart said:
Saturday, January 19, 2013 @ 8:49 AM

The Spanish Banks have never been allowed to gamble with their clients' money like the British Banks could. In Britain this was called "The Big Bank" when Thatcher allowed the City to regulate itself.
Fat lot of good that did all of us. We'll be paying for those hideous bonuses for generations.

john said:
Saturday, January 19, 2013 @ 9:51 AM

Spanish banks rescued by the ECB have used this money to balance there books and this applies to all the other PIGS. The argument is that the British Tax payer, a net contributor to the EU has had to rescue its own banking system. Why the Germans want control of the London City Banks is that it is an untapped source of finance for them as the mainspring of the ECB. It also says why Obama is telling Cameron to stay in the EU and not leave because he will be able to influence the EU through American commercial banks based in London. This was sorted out at Davos last year but events have a habit of not going to plan even for the New World Order.

Anne said:
Saturday, January 19, 2013 @ 12:03 PM

John, Sorry for my ignorance but in layman's terms please can you explain if the information provided relating to an "untapped source of finance" means that the British taxpayer is bailing out not only its own Banks but also Banks outside the UK, or have I misunderstood? Also can you explain what impact will the Americans influence in the EU be, is the inference here that this will this work against British interests?