Link Securities | The European Commission (EC) is prepared to take the Spanish government to the EU Court of Justice if it dares to block a major EU banking operation worth €15 billion, such as BBVA’s attempt to take over Banco Sabadell.
“In that case, we would not hesitate to go to the Court,” Commission sources told this newspaper when asked what their response would be if the Minister for the Economy, Carlos Cuerpo, goes ahead with his plan to modify the approval of the National Markets and Competition Commission (CNMC) and the European Central Bank (ECB). According to sources consulted in Brussels, this firm position comes as no surprise to the Spanish government, because “it has been talking to them since December”.
