It's the bailed-out bank with the biggest proportional cost for citizens
FACUA categorically rejects the selling off cheaply of Catalunya Banc with losses equivalent to the public education and health systems cuts
The organisation criticises that no compensation whatsoever has been asked in return to the buyer, such as a stop of evictions. The Government has already spent more than 13 billion Euros of public funds on the bank. The buyer will pay, at the most, 1.187 billions.
FACUA.org
España-23/07/2014
FACUA-Consumers in Action categorically rejects the auction of the bailed-out and nationalised Catalunya Banc for a ridiculous amount at the expense of the public funds that had been cut back from the public education and health systems. Last Tuesday, it was known that the Fund for Orderly Bank Restructuring (FROB, according to its initials in Spanish) has sold the bailed-out bank with the biggest proportional cost for citizens to BBVA, following the buyer’s assurance of a minimum payment of 600 million Euros and maximum of 1.187 billion Euros.
The organisation considers totally unacceptable that the citizens lose definitely, with this selling, 11.839 out of the 13.624 billion Euros invested on the public bailout of Catalunya Banc, an amount close to the public education an
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