Pending regeneration

The curse pursues this country. First came the crisis with its material and social devastation. Then, the post-crisis with its moral devastation. When it seemed that our capac


Opinion

The former president of BBVA, Francisco González, in an interview with EL MUNDO JOSÉ AYMÁ

The curse pursues this country. First came the crisis with its material and social devastation. Then, the post-crisis with its moral devastation. When it seemed that our ability to shock us had exceeded the limit, the BBVA was still missing . And who knows what will be next we know.

The uncontrolled prisoner Villarejo -making revenge from his cell- or those who have taken their trash can full of illegally recorded conversations are not willing to give us a truce. In the last installment, they are illuminating part of the insides of the functioning of the free market economy and the rules of good corporate governance of one of the most important banks in the country. The invisible hand of the market also hired the services of Villarejo. The liberal economy is very liberal until someone launches an Opa, in order to change the shareholding and the Board of Directors . Then, the faith in the rationality of the markets gives way to the espionage of the enemy, without limits of private or public life. Come on, the blackmail of the whole life of God to direct the invisible hand.

In the time of the Opa we knew, because it was told in this newspaper Casimiro García-Abadillo, that the businessman Luis del Rivero had designed the assault on BBVA on a paper napkin. Now we complete the story with the BBVA dome paying a dough to Villarejo to spy on the movements of the enemy in order to make the operation fail. They made it. Which is not surprising, since spied 15,000 calls and almost 4,000 phones.

In the so-called harder times of the crisis, the concept of "extractive elites", coined by the economists Daron Acemoglu and James Robinson, made its fortune in his book Why Countries Fail . The elites thus defined devote their efforts exclusively to their own welfare. As they were spent by the financial elites of BBVA. His former president, a respected banker, has just retired with a pension plan of 79.7 million euros. Francisco González is a very hard-working man. He was the one who told De Guindos that Bankia was a dead man. He was the one who dictated lessons in the Great Recession. And he was the one who ran the bank when Villarejo was hired to spy on the enemy. Political regeneration is underway and going in the right direction. The regeneration of the economic-financial elites that were swimming in the trash is another matter . But it is still a major scandal.

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REF: https://www.elmundo.es/opinion/2019/01/12/5c390b9821efa0b8738b46f3.html