Time (Bad) Of Savings

The president of Bancaja, José Luis Olivas, calls the depoliticization of the savings banks, which is a paradox, since he took office after going through the presidency of the Valencian Community. At least in the case of our man is a manager with proven ability, just the opposite of Juan Pedro Hernandez Molto, former spokesman of the PSOE in Economics Courts, which has left the fox made a sound before Caja de Castilla -La Mancha. Therefore, the message of Olives, at bottom, is another, is asking regional governments in this time of economic distress enable banks to seek life where they can, instead of forcing them against regional functions natura. The same, in other words, came to say a few days the new president of the CAM, Modesto Crespo, when taking office: its entity and Bancaja are not complementary, but a similar profile, so that their merger would not entail any benefit and yes a lot of problems, including labor. Some of that was raised several years ago, when then-president of Valencia, Eduardo Zaplana, tried to force integration that luckily was reduced to a corporation inane joint industrial holdings.

In other words: no siphon. Right now the thing is even more complicated since then the banks doubled their profits every three or four years when now, however, are seeing the ears of the wolf: the head of Banks, Juan Ramon Quintas, provides NPL ratio was 9% for next year, although the president of La Caixa, Juan María Nin, optimistic he believes could hold up to 15%.

In any case, the various regional governments that are erre erre. The Juan Vicente Herrera, Castilla y León, is forcing integration into opponents as cats belly up some entities, such as Burgos. The two biggest box-Caja Duero, Spain and know, however, can not escape such powerful intentions, even though Deloitte discourage the merger. Instead of doing case was dismissed and another consultant to sign more amenable to the political designs. In its day, Ibarretxe could do the integration in Euskadi, putting the front of the box resulting unified lehendakari former Jose Antonio Ardanza, because he resisted the Caja Vital in Vitoria, in the hands of the socialist Red Gregory, brother of Senate President Javier Rojo. For his part, Manuel Chaves, powerful Andalusian jerifalte for two decades, made life impossible for the rogue-spy chief financial officers, including, reaching them out of the party, until his retirement also harassed the priest Miguel Castillejo, chairman of Caja Sur, and only accepted the failed merger of Unicaja with his fellow CCM Braulio Medel be settled in two communities both socialists. By contrast, when South Caja Caja Murcia has approached, his successor, José Antonio Griñán, has already said that odd.

At this gross political manipulation is what José Luis Olivas opposes. He advocates, as was the former president of the Salamanca Caja Duero, Sebastian Battaner, reaching interregional agreements with entities such as Ibercaja, CajaAstur ... which have synergies with and not become obsequious autonomous central banks in the service of political party hegemonic shift. The law must change the boxes, then, to stay safely in a score, rather than the 45 today. Institutions must become more transparent, as he calls Obama the U.S. financial system, thus avoiding the depositors believe that signing the latest invention of subordinated debentures have the same lack of risk to open a deposit account. You must change everything, in short, to quote the protagonist of the novel The Leopard, to get everything remains the same: to maintain the necessary and beneficial social work and promoting the thriving and cultural work. If not, all we come to the public of these operations will be Banks as questionable as the credit granted to 76.5 million Florentino Perez, the cost of Euribor plus two points and three-year grace period, in order to sign Cristiano Ronaldo.

For travel so outrageous financial saddlebags do not need the boxes. .