MADRID | By Fernando G. Urbaneja | A Council of 15 members with different sensibilities, experiences, but solid and with personality. The new La Caixa Foundation maintains the character of the old savings bank, and is committed to professional and political independence. A delicate and subtle game of checks and balances.
VALENCIA | By Luis Torralba, via valenciaplaza | Rosend Ortí, director general at Caixa Popular, one of the very few small saving banks that have survived the financial typhoon in Spain: “The partnership model resists well against the current crisis.”
MADRID | By Fernando Barciela | Alvaro Cuervo is director at CUNEF University and board member of BME and ACS: “In the US, everybody understood that the housing sector had fallen, but in Spain there is the belief that the economic cycle will turn the page by itself.”
By Carlos Díaz Guell, in Madrid | The second stage of Spain’s financial reform is going through a foggy tunnel in which stable entities have been left in a state of perplexity and confusion. The entities that aspire to be absorbed are too weak even to attract deals, the governor of the Bank of Spain is about to end his mandate and does not have the government’s trust, and the road…
LONDON | We know what The Daily Telegraph did last weekend. On Saturday 22, its daintly designed Business pages brought a report that fitted in two short columns some risk agency quotations and Spanish politicians’ chit-chat about ongoing disagreements as far as the future of the cajas is concerned. “Spain to merge cajas in attempt to calm fears” the headline read, and rightly so. Yet, apparently, this piece of news had had to be tamed on its way into the paper.