Where has Santander found the funds to hoover up so much of British banking? They are also busy buying up retail bank networks in Germany and no doubt other countries.
There's very little commentary on this in the British financial press
- possibly because not a lot of Spanish is spoken or understood there.
So is Santander an Hispanic Kaupthing - i.e. a bubble waiting to burst? Or do they get attractive tax breaks from the Spanish government for purposes of expansion? Or are they simply a very very very successful bank - one of the best in the world?