Tuesday, May 8, 2012

Austerity bollocks! €7 billion public money for bank paying dividends

The Spanish conservative government is already showing who is the austerity for: only for the poor and weak. The bank of their friend Rodrigo Rato (former Minister of Economy and IMF head) Bankia is being bailed out with a public money injection of nothing less than €5 billion and maybe as much as €10 billion! However the most mentioned figure is €7 bllion.

Meanwhile neither the salaries of the directives nor the dividends of stockholders have been affected at all: the bank, which oddly enough still has benefits, is giving €152 millions in dividends. 

Earlier in the year the same government cut public budget by €27 billion (mostly in education, healthcare, public works, social benefits but not a cent in police, military, royal house or politicians' salaries). 

Worst of all is watching the President of the Government (Prime Minister) Mariano Rajoy answering to journalists once and again Galician style. It's said half-jokingly that  if you meet a Galician at the stairs you will not be able to find if he goes up or down... the reason seems to be that socio-economic oppression in that country caused people to learn to speak ambiguously so they would not get into trouble. But what is a somewhat silly ethnic joke becomes political absurdity, true esperpento (another Galician creation) when the leader of a major state establishes his policies that way: you either don't know what he's going to do, or you do know because you outsmart his stupid game of ambiguity (most do, it's not that difficult) and he looks like unable to speak clearly, what is not considered a virtue even in Galicia - I bet. 

But in any case it seems that Mariano will give his friends' bank €7 billion (or maybe more) of our money just because, while the bank gives away nothing less than €152 million in dividends. 

Additionally, Rodrigo Rato, whose career has been going downhill since he was minister no more, blamed in part for the current economic global crisis because he was unable or unwilling to act as head of the IMF, and now involved in this pathetic robbery of public money, has decided to resign. Instead a Basque oligarch, José Ignacio Goirigoizarri, who is already getting three millions for life as former councilor of the BBVA, will be appointed as new CEO. 

Source: Tercera Información[es].


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