Quote:
Originally Posted by bobdreamz
^ yes since Banco Santander will be financing it themselves.
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Santander, of course, is a Spanish bank and so intimately involved in the Club Med/Euro mess. The bank itself is probably in much better financial shape than the Spanish government (in part due to its extensive business in Latin America), but it is an open question what effect a government debt crisis might have on them (would the government try to force them to loan it money?) Furthermore, it surely wouldn't be surprising to see them pulling in their horns a little right now and, perhaps, putting projects like this building on hold until Europe sorts itself out.
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