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Why are Spaniards Pulling Out Their Cash and Getting Out of Spain? - Business News

Daryl 2012/09/04 14:38:09
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CNBC.COM reports:
Many who worry that Spain’s economic tailspin could eventually force the country’s withdrawal from the euro and a return to its former currency, the peseta. That direct outcome is still considered a long shot, even if Spain might eventually require a Greek-style bailout. But there is no doubt that many of those in a position to do so are taking their money — and in some cases themselves — out of Spain. The NYT Reports.


require greek-style bailout doubt position money cases spain nyt reports

Read More: http://www.cnbc.com/id/48889555

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Top Opinion

  • The Patriot 2012/09/04 15:02:25
    Other
    The Patriot
    +3
    Rumor has it that the Obama family will be moving to Spain after the American people through them out of the United States.

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Opinions

  • whipnet 2012/09/04 23:15:23
    Other
    whipnet
    +1
    The slave trade isn't paying what it used to?

    *
  • Fef 2012/09/04 18:00:43
    Fear of economic collapse of the Euro
    Fef
    +1
    socialism FAIL
  • kofp 2012/09/04 17:43:35
    Fear of economic collapse of the Euro
    kofp
    +1
    What's one to do given the world is controlled and screwed up no matter where you are?
  • Daryl kofp 2012/09/04 23:39:39
    Daryl
    Some are a lot worse off than others.
  • kofp Daryl 2012/09/04 23:45:16
    kofp
    Where is it best you think?
  • Daryl kofp 2012/09/05 21:38:14
    Daryl
    +1
    Central Europe including the Czech and Slovak Republics, Austria, Switzerland and Hungary.

    Some parts of Scandinavia including Denmark and Finland.

    Some parts of Asia including Thailand, Singapore, South Korea, Hong Kong, Taiwan and Japan.

    Some parts of the South Pacific including Australia, New Zealand and Pacific Island chains.

    If the US continues this path, I will investigate moving my wealth out of this country before the lazy, stupid and corrupt steal it all.
  • kofp Daryl 2012/09/05 23:02:52
    kofp
    Not Costa Rica?
  • Quietman ~PWCM~JLA 2012/09/04 17:32:13
    Fear of economic collapse of the Euro
    Quietman   ~PWCM~JLA
    +1
    fta: More disturbing for Spain is that the flight is starting to include members of its educated and entrepreneurial elite who are fed up with the lack of job opportunities in a country where the unemployment rate touches 25 percent.

    According to official statistics, 30,000 Spaniards registered to work in Britain in the last year, and analysts say that this figure would be many multiples higher if workers without documents were counted. That is a 25 percent increase from a year earlier.
  • Joe Shwingding BN-ZERO 2012/09/04 16:53:00
    Fear of economic collapse of the Euro
    Joe Shwingding BN-ZERO
    +2
    There is simply not enough money for all the debt that has been sold. The banks hold worthless paper. The wealthy have already extracted something like $350B this year from Spanish banks. You see there is NO patriotism among the elite.
    The ones that will be hurt the most are the ones already with nothing.
  • The Patriot 2012/09/04 15:02:25
    Other
    The Patriot
    +3
    Rumor has it that the Obama family will be moving to Spain after the American people through them out of the United States.
  • All American 2012/09/04 14:52:30
    Other
    All American
    +1
    Because the banks didn't have a penalty for early withdrawal?
  • tom C 2012/09/04 14:48:27
    Fear of economic collapse of the Euro
    tom  C
    +1
    and they see what mexicans have done.....leaving to illegally enter america...
  • stevegtexas@aol.com 2012/09/04 14:41:48
  • Daryl 2012/09/04 14:38:42
    Fear of economic collapse of the Euro
    Daryl
    +2
    We are witnessing the collapse of Western civilization wrought by the welfare state.

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