Imagine that instead of Bankia it was Caixabank, a Catalan bank, the one to be rescued. Would have then Spain rescue so happily that bank? Or would have been voices in Madrid who would have said that that bank should have been rescued by the Catalan government.
As far as I know Bankia is related mostly to the old Caja Madrid and I remember very well that Caja Madrid was very related to the government of the Madrid community. So, why now Spain must put the money and not just the government of the Madrid community?
Thanks to the construction of buildings some people in Spain got rich. Some cajas and banks invested in building because it was a way to get rich. Meanwhile the common citizen did not get any money. Now that there are losses. we, the citiznes, have to put the money?
This is unfair. We leave in private hands to win money and we leave in public hands to pay the debts if something goes wrong!
- Official: ailing Bankia needs at least $11BN (seattlepi.com)
- Nationalized Spanish bank needs at least $11 billion injection, economy minister says (foxnews.com)