EXHIBIT 5.2

                  [Letterhead of Fiddler, Gonzalez & Rodriguez]

                                  July 19, 2004

EuroBancshares, Inc.
270 Munoz Riviera Avenue
San Juan, Puerto Rico  00918

      Re:   EuroBancshares, Inc. Registration Statement on Form S-1 (No.
            333-115510)

Ladies and Gentlemen:

      EuroBancshares, Inc., a Puerto Rico corporation (the "Company"), filed
with the Securities and Exchange Commission a Registration Statement on Form S-1
(the "Registration Statement") under the Securities Act of 1933, as amended (the
"Act") on May 14, 2004. Such Registration Statement relates to the sale by the
Company and certain of its stockholders (the "Selling Stockholders") of shares
of the Company's common stock, par value $.01 per share (the "Common Stock"),
including shares of Common Stock subject to the exercise of an over-allotment
option granted by the Company and the Selling Stockholders to the underwriters
(collectively, the "Shares"), all as described in the Registration Statement.

      This firm has acted as special Puerto Rico counsel to the Company in
connection with the preparation and filing of the Registration Statement,
regarding the legality of the issuance and sale of the Shares under Puerto Rico
law. In connection therewith, we have examined and relied upon the original or
copies, certified to our satisfaction, of (i) the Certificate of Incorporation
and Bylaws of the Company, in each case as amended to date, (ii) copies of
resolutions of the Board of Directors of the Company authorizing the
Registration Statement, and (iv) such other documents and instruments as we have
deemed necessary for the expression of the opinions herein contained. In making
the



EuroBancshares, Inc.
July 19, 2004
Page 2

foregoing examinations we have assumed the genuineness of all signatures and the
authenticity of all documents submitted to us as originals, and the conformity
to original documents of all documents submitted to us as certified or copies.
As to various questions of fact material to this opinion, we have relied, to the
extent we deem reasonably appropriate, upon representations or certificates of
officers or directors of the Company and upon documents, records and instruments
furnished to us by the Company, without independent check or verification of
their accuracy. We are attorneys admitted to practice in the Commonwealth of
Puerto Rico and are opining herein solely as to the laws of the Commonwealth of
Puerto Rico.

      Based upon such review and release, we are of the opinion that the
issuance and sale of the Shares to be sold by the Company and the Selling
Stockholders in the offering, as described in the prospectus forming a part of
the Registration Statement, have been duly and validly authorized for issuance
under the laws of the Commonwealth of Puerto Rico, and the Shares, when sold by
the Company and the Selling Stockholders in the matter stated in the
Registration Statement and the related prospectus (as amended and supplemented
through the date of issuance), will be legally issued, fully paid and
nonassessable.

      We hereby acknowledge that his opinion has been relied on by Jenkens &
Gilchrist, P.C. in issuing an opinion regarding the legality of the sale and
issuance of the Shares. We hereby consent to the filing of this opinion as
Exhibit 5.2 to the Registration Statement and to the reference to this firm
under the caption "Legal Matters" in the prospectus forming a part of the
Registration Statement. In giving such consent, we do not admit that we come
within the category of persons whose consent is required by Section 7 of the Act
or the rules and regulations of the Commission thereunder. This opinion letter
is rendered as of the date first written above, and we disclaim any obligation
to advise you of facts, circumstances, events or developments, which hereafter
may be brought to our attention and which may alter, affect or modify the
opinion expressed herein. Our opinion is expressly limited to the matters set
forth above and we render no opinion, whether by implication or otherwise, as to
any other matters relating to the Company or the Shares.

                                            Respectfully submitted,

                                            FIDDLER, GONZALEZ & RODRIGUEZ, PSC

                                            By: /s/ Antonio R. Sifre
                                                --------------------
                                                    Antonio R. Sifre