Today I became officially published in The Times. …… OK, so it was only a letter on the letters page, but pride where pride is due!
Bankia, the about to be failed bank that was formed out of seven failed savings banks, actually needs a bailout of over 7 billion euros, not 4,5 billion. Interestingly enough, the amount that the state wants the federal regions to cut out of their budget is only 5 billion, so that’s that savings gone then. Bummer. CEO of Bankia, Rodrigo Rato, has announced his resignation, which is unusual.
Does that make sense? I think it makes sense. Anyway, the new Minister for Justice in Griñán’s new Junta de Andalucía is Emilio de Llera , the man who is also the prosecutor general of Seville. Emilio was the man in charge of investigation the ERE pension scandal currently rocking the Junta (where the Junta has been accused of spending hundreds of millions in a slush fund to pay off union leaders, ex-politicians and generally Continue reading New Andalucian Minister for Justice is the same bloke who was in charge of “Corruption in the Junta” investigation…
Bankia, the new Spanish bank made out of a shotgun wedding of no fewer than seven failed Spanish caja de ahorros, and the bank with the largest exposure to real estate debt in the country (37,500 million euros), has seen its share price sink through the floor after it was leaked that Bankia is bankrupt. Expansion, the financial paper, tells us this morning that emergency talks between Madrid and the Bank of Spain are culminating Continue reading Bankia goes bust (quick, get your cash out) and another 4,5 billion of public cash is counted out