Well,there is only one thing to do in a situation like this...





















Run around waving ones hands in the air and 


PANIC,PPPPPPPANIC !!!!!!!!!

The co-op was operating as a small bank, and had about 3000 clients most of whom were local.

Last year, in order to maximise profits, the co-op made several purchases of arable land - sound investments at the time.

However the interest rate offered on the savings accounts was about 3%, and when Catalunya started offering 4-5% on it's own 1 and 2 year bonds, a lot of their savers withdrew their cash and invested it elsewhere.

Not quite a bank-run, but effectively made them illiquid and they did not have the funds tot pay out anymore.

Banks eh!  This week 3000 in L'Aldea, next week France...