Thursday, May 19, 2011

Navarrese public bank liquidated into a corporation of Spanish character

Image of the suicidal meeting
Caja Navarra (CAN), the public savings bank of Navarre, has existed for some 90 years but was liquidated yesterday into a corporation Banca Cívica that will be sold to private hands. This is a robbery of the patrimony of all Navarrese citizens who for almost a century have kept this institution with their taxes and (often) their savings as well. 

The Spanish single twin party, which rules in Navarre, agreed (as with nearly everything else, even immersed in electoral campaign) to this catastrophic decision that will see the public bank merged with Caja de Burgos (Burgos Province in Castile), Cajasol (Western Andalusia) and Caja Canarias (Canary Islands).

This implies a double thievery: on one side a public company is made private for no reason at all, and on the other a key public instrument of economic sovereignty of Navarre, which kept ample self-rule through the centuries, has been scrapped for good in the benefit of the invader and would need to be built from zero again if the Navarrese people would want to regain it in the future.

Source: Gara[es] - also workers' union LAB denounced the decision as robbery.

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