Are your savings in Spain Safe?

I came accross this earlier and whilst we don't have any saving here - (we transfer what we need as and when) I wondered how many of you that have been here for a long time etc feel about all of this. Are you worried about having savings here now?

http://www.telegraph.co.uk/news/politics/ukip/9950083/Ukip-urges-Brits-to-withdraw-their-money-from-Spanish-banks.html


"The UK Independence Party leader said that the European Union had “crossed a line” by trying to extract funds from savers under the terms of the abandoned Cypriot bail-out.



Mr Farage said: “Even I didn’t think that they would stoop to actually stealing money from people’s bank accounts.


“There is going to be a big flight of money and that flight of money won’t just be from Cyprus, it will be from the other eurozone countries, too. There are 750,000 British people who own properties, or who live, many of them in retirement, down in Spain.



“Now that we see the EU are prepared to resort to anything to keep alive their failing euro project, our advice to expats living down in the Mediterranean must be, 'Get your money out of there while you’ve still got a chance’.”



Mr Farage urged George Osborne, the Chancellor, to rule out any such levy on British savers."

Angie

Hi Angie,

Thanks for the article. It certainly gives us food for thought. Like you we don't keep any savings in Spain and only transfer what we need to pay bills and give us some cash for each trip. However those living in Spain must be quite concerned if they keep any savings there.

Jan.

Not really as bank deposits are safe up to €100, 000 as just shown by the Cyprus malarkey and I certainly don't have more than that in Spain. More concerned with the UK system where I do have that amount. My interest payments are a joke and the quantativeeasing policy by the Bank of England is keeping the pound artificially low which affects my pension payments. €132 less this month than 2 months ago.

Thanks Marcliffe, Lots of us are in the same situation in the UK. Better off spending it all, enjoying the money and then claiming benefits - we would all be better off then . They can't take it away in nursing fees and taxes etc if we dont have it I found this article that also explains the Cyprus situation and its possible implications:
http://www.financialpost.com/m/wp/perso ... rom-cyprus