Rodrigo Rato which is president de Bankia, one of the greatest banking organizations of Spain announced on May 7th, 2012 its resignation. That was made after the decision of the government inject a public fund to cleanse this organization of its dubious real credits. Following that, it decided to pass the direction to another person. Its substitute could be Jose Ignacio GoirigolZarri DG of the second best bank which is the BBVA. Let us recall that he was already Minister for the Economy of Spain of 1996 to 2004 then managing director of the bottom international currency up to 2007.
At all events, he thinks that it is the best decision to be taken taking into account the problematic situation of Bankia vis-a-vis its real credits. However, the State could finance it for the cleaning of its real credits. As information, it is the greatest grouping of savings banks of the country.
According to him, it is best placed to take again and manage the lines of business. He proposed it with the board of directors of his company. The advertisement of its resignation was done a few hours after that of the government on the injection of funds to help the company.
According to the El daily newspaper feed, the company would need a bottom between 5 to 10 billion euros for its rectification. The expansion speaks about a sum which can reach the 7 billion. According to the Prime Minister Maiano Rajoy, a possibility of public finance of these companies is possible. He clearly affirmed that he would not hesitate to make enter the public funds if that were necessary.
Through a meeting, the Spanish government will implement as from Friday an Order in Council which will cause to dissociate the real credits at the risk of the assessment of the companies. Concerning Bankia, its credits are those which are exposed to the real sector. |
