The president of the European Commission (EC), José Manuel Durão Barroso, has blamed the Bank of Spain for making very significant errors of supervision that fuelled the Spanish banking crisis.
Bank of Spain economic forecast
The latest forecasts from the Bank of Spain predict that the economy will shrink by 1.5% in 2013 (Government forecast 0.5%) and unemployment will rise to 27.1%. For 2014, the Bank of Spain is now forecasting economic growth of 0.6%, compared to the Government forecast of 1.6% growth.
CajaSur opens as normal
The 474 branches of the CajaSur bank have opened as normal today after the Bank of Spain intervention at the weekend.
Bank of Spain takes over CajaSur
The Bank of Spain has taken control of the CajaSur bank after the failure of merger negotiations with Unicaja, the move being made to ensure that CajaSur can continue to operate normally and fulfill all its obligations to third parties.
Bank of Spain to run Caja de Ahorros de Castilla-La Mancha
The Bank of Spain has taken over the management of the savings bank Caja de Ahorros de Castilla-La Mancha (CCM) due to its delicate liquidity situation. It is the first such action since the economic crisis began.