Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Banks are fleeing catalonia. Today it has been Sabadell -moves HQ to Alicante-. Tomorrow Caixabank decides if it activates its contingency plan and moves to Baleares.
Maybe next week Cataluña leaves the EUR and adopt Bitcoin? Bullish!
Maybe next week Cataluña leaves the EUR and adopt Bitcoin? Bullish!
Isn't Baleares filled with tourists and across the sea? How are they going to serve the local clients from across the sea?
We are talking about the Headquarters. They have branch offices all over Spain.
It is just that they fear a bank run (CaixaBank has lost more than 4 billions in client deposits just in the past three days).
As soon as both banks announced they were about to decide the move they started a recovery.
Any Cataluña local affiliated banks? It would be funny if there is a bank run when people don't know what currency they are going to use tomorrow (EUR or new ccy?), and Banco de España / ECB refuse to extend liquidity to regional banks.
Banco de Sabadell and Caixa have historically been the main "regional" Catalonian banks. Nowadays they depend more on clients all over Spain though.
Yes, I think the lack of liquidity provided by BDE/ECB has been also a major consideration in the move. They can't risk bankruptcy so it is the only logical step.