“Now that the Spanish economy has more or less stalled, the value of shares in many cases has plummeted. In Spain this applies to hundreds of thousands of account holders, whose money the banks have invested here and there.  Investments in stock have even been made without seeking permission from the account holders.  People have been under the impression that their capital is sitting there normally in a savings account.  Within the European Union, bank deposits are protected up to EUR 100,000. The deposit protection, however, does not cover losses if the money has been invested in stock.”

http://www.hs.fi/english/article/Bank+deposit+turns+into+a+waking+Iberian+nightmare+/1329104616323

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