I am re-posting this from December 2012. Luckily, Santander didn't manage to take over my bank, and Santander eventually set-up in the UK by themselves. They have now just announced that they will close 140 branches, with a loss of 1,270 jobs. I wonder who, in Brussels, insisted that they set-up shop in the UK? Whoever it was should be bloody shot!
The European Commission recently INSISTED that my bank, The Royal Bank of Scotland (RBS), sell-off part of its UK banking business, including RBS branches in England and Wales.
I was informed by mail that the sale was going through to piss-poor Spanish bank Santander; this has now fallen through.... Thank goodness!
Who are these bloody anonymous unelected over-paid European bloody bureaucrats who dare give such instructions to the UK government? And why doesn't the UK government just tell them to piss off?
I wonder how much money (MY money) has been spent on foiling this unsuccessful and unnecessary takeover?
Are either Germany or France ever told that they must sell off their major businesses or industries to other EU countries? Somehow methinks NOT.
p.s. And while I'm on the subject, be very aware that the European Commission is trying to diminish Britain's hold on European FX trading. They want to 'SHARE IT AROUND'. As The City of London contributes around 15% of all government tax revenue (a MASSIVE amount for just one square mile of the UK), one can imagine what the EC's plans would do to Britain's economy.
BEWARE!!!!!!
Having re-read this from 2012 it makes me even angrier than I was before. 1,270 job losses; and I expect there'll be more!
I am lacking enough knowledge to offer a meaningful comment. I have noted that many people in Britain are singing the song 21st of March. It must happen.
ReplyDeleteThis was a very British problem; the perfect illustration of interference from Brussels.
DeleteI think the song we are singing is 29th March Andrew although I don't see it happening, at least not on that date.
DeleteThe EU has a poor record on banking and monetary issues and managing the Eurozone when one looks at Greece, Italy, Spain, Portugal etc. I, like Andrew do not have a lot to say about Santander except that they took over so many high street building societies during the banking crisis, when they were not that great themselves back home in Spain, that they do, or did, in some places have 4 outlets in one street here. To me it beggars belief how they were allowed to come to this country in the first place with such a poor balance sheet. However, Santander are now closing branches on the basis that people are preferring on-line banking, apps and machines to real live banks. I believe you have said yourself that you do not go into a bank much these days. The Royal Bank of Scotland was rescued by the UK Govt when Fred got it all wrong and wrecked a perfectly good bank. The EU said the state could not hold the bank and demanded it be sold off. It was an EU reg, I agree, but the story of RBS was a mess before that.
ReplyDeleteI've been with RBS since I was in The City, and I banked with Williams Deacons in Cheapside. It was a very small non-clearing bank, situated in an Oak Panelled room with a commissionaire outside. Ever since then I've forgiven them everything.
DeleteEU issues €500 banknotes and has done for years. They have a little worthless debt on their books. We all saw the Greek episode. Greeks queuing to be allowed to withdraw €100 of own money. More such things to come? The sign on the front of a bank in the EU can be very misleading. It might not belong to the country it appears to do. There are a couple of them here. One is really Italian and one American but they still have the old names on the portals.
ReplyDeleteMy bank, these days, is a hole in the wall which gives me money as long as I tap-in the right numbers. I hope they don't take those away.
DeleteYou'll remember in Greece they closed the cash machines and people had to queue around the block clutching their ID cards etc..
DeleteThey won't take those machines away when the s**t hits the fan. They'll just input back door codes which will close them. These mysterious one day down due to hacker events could simply be dry runs.
I'd be buggered if they didn't work.
DeleteDidn't the EU insist that a French company print Britain's new passports in preparation for leaving? Get it while you can...
ReplyDeleteAfter Vodaphone took over the German Co Mannismann, they were forced by the EU to sell Orange to France. It happens everywhere.
DeleteWhen Lufthansa took over Austrian Airlines they already had Eurowings and Germanwings they didn't sell their subsidiary Air Berlin. They made them bankrupt and repainted the planes. A few were rented to Niki Lauda's Laudamotion (now with Ryan Air).
DeleteI don't know if Lufthansa actually got their hands on Air Berlin but it was 'set up' for them as they had been after it for years according to Ryan Air. Anyway the end result was that Lufthansa benefited.
DeleteI mentioned to Rachel recently that Lufthansa have been advertising on Radio here; BIG TIME. I presume that they will ignore Macron, and continue to fly to England.
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