By Julia Pastor, in Madrid | The Spanish financial system reform is already under way, so it generates a non-stop stream of news and comments. The news on Thursday precisely come from the minister of Economy Luis de Guindos’ statements, who said during an interview to radio broadcaster Onda Cero that after the second round of mergers and acquisitions, there will be around twelve entities left in Spain.
“They will be strong and solvent enough to assure the competente”, added he.
De Guindos explained that the current Spanish banking net size
“is decreasing its competition strength, because not all the entities can give credit. They receive liquidity from the ECB, but do not comply with their role to give credit.”
About the process of mergers and acquisitions opened in the country’s financial terrain, the minister said that
“the goverment will not intervene into these operations.”
Particularly, about the so much gossiped merger between Bankia and Caixabank, his statements has been equally neutral:
“They are absolutely free, and very important entities, and the government just is to establish the general framework to act.”
However, according to the most informed analysts of the City in Madrid, only eight Spanish banks will be able to meet the reform requirements, which could change appreciably that size estimated by the Ministry of Economy.
At the beginning of the current week, De Guindos announced that his department would start shortly an international roadshow to explain the Spanish banking reform in the major financial places of Europe, Asia and America.