Word: proving
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Santander still has to prove itself in the U.S., however. In 2006, the Spanish firm spent $2.9 billion to buy 25% of Sovereign Bancorp, a regional bank in the northeast. By October 2008 Sovereign's stock had fallen 85% and Santander exercised its right of first refusal to buy the remaining 75% for $1.9 billion. Now it has to hope Sovereign is worth more than the peanuts Santander paid for it. "If a bank is strong, it is not for sale. Banks are sold, not bought," says Juan Rodríguez Inciarte, Santander's director general and an architect...
...parents' nationality before their eyes, and they didn't hesitate to become more absurd by asking for proof of my grandparents' citizenship," says Giraud, who had planned a trip abroad and ended up obtaining a British passport by mail in a week. "Why isn't it their responsibility to prove my earlier passport and ID weren't obtained by fraud since the same administration asking for proof of citizenship now provided them?" Naulleau ultimately beat the system by requesting French citizenship through his naturalized, Bulgaria-born wife. But this isn't an option that is open to most people. (Read...
...What a lot of people don't realize is that with the increasingly strict obligation to prove your citizenship, you can walk into a state administration today to have your ID or passport renewed, and walk out virtually a stateless person," says Naulleau, 48, whose family had been posted to Baden-Baden, Germany - about 30 miles from the French border - when he was born in 1961. "The situation is creating a two-class system of citizenship in which French nationals born abroad or to foreign parents are treated as inferior, and forced to prove their worthiness of being French more...
...this happening? For years, applicants for new passports and ID cards relied on their expiring documents to prove their identities and French nationality. But in the mid-1990s, the country started strengthening the verification requirements on suspicions that significant numbers of foreigners had made bogus claims of citizenship to obtain French passports. In the past few years, the rules have become even more stringent. According to the Justice Ministry, about 18,000 people, or 12% of all those who tried to renew their passports or ID cards, were rebuffed in 2007 because they didn't have irrefutable proof of nationality...
...terrorism and identity theft has become more commonplace. Perhaps, detractors say, but those French citizens born overseas or in France to foreign-born parents are facing a trial that their peers are not. While the latter group can often rely on the French state to check official records to prove their citizenship, people born in former French colonies to naturalized immigrant parents or to French families abroad are being subjected to a paper chase that often leads to dead ends. Many fear they may lose their French nationality altogether. (See pictures of the French cracking down on migrants...