Durao Barroso points to Bank of Spain’s “serious mistakes” in supervising crisis

He was calm but straightforward as ever. In the opening day of the weekly seminar “Europe after the crisis”, held in Santander’s Menéndez Pelayo in Santander on Monday, Mr Durao Barroso defended the European project and called for “intelectual rigour” when speaking about who and what caused the economic crisis.

“It was not the EC who caused Lehman Brothers’ fall,” nor the excesses of public and private debt, he said.

“Important mistakes in the financial sector supervision were made,” he said talking about the Bank of Spain.

Mr Durao Barroso also critisized doomsayers who predicted the euro breakup, the so-called Grexit and other wrong forecasts. He  insisted the euro has not been the problem since other non-EZ members such as Iceland and the UK have suffered from economic distress, too.


About the Author

Ana Fuentes
Ana Fuentes is The Corner Editor-in-Chief. Currently based in Madrid, she has been a correspondent in New York, Beijing and Paris for several international media outlets such as Prisa Radio, Radio Netherlands or CNN en español. Ana holds a degree in Journalism from the Complutense University in Madrid and the Sorbonne University in Paris, and a Masters in Journalism from Spanish newspaper El País. You can contact her at: anaf[at]thecorner.eu

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