Is there any need to worry about Santander UK?

With Kent county council pulling out �3m from Santander UK, questions are now being asked about whether others should worry about the Spanish-owned bank. We report this morning that Havering council has also removed Santander from its approved list – while Westminster city council took �10m out of the bank 18 months ago.

The concerns revolve around the parent company, Santander, amid nervousness about the vulnerability of the Spanish economy. One senior MP told us yesterday that the news reminded him somewhat of the early days of Northern Rock, even though the two situations are very different.

Source: http://feedproxy.google.com/~r/ft/westminster/~3/TcTwLK0Cvdc/

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