• Banca.CaixaBank and Bankia prepare an imminent merger

  • Government. Calviño did not inform Iglesias of the merger of CaixaBank and Bankia

The Vice President of the Government and Minister of Economic Affairs,

Nadia Calviño

, defended this Monday in Brussels the decision not to inform part of her Executive about the conversations underway this summer for a possible merger between Bankia and CaixaBank, expanding on "the fundamentals which is confidentiality, the restriction of information that is shared before making it public that there is a "merger process underway."

During a visit to the

European Commission

, in which he met with various commissioners and senior officials with an economic profile to discuss the Spanish Budget for 2021, the country's situation, recovery policies and, of course, the financial operation, Calviño has addressed an issue that is an open secret: the fracture between the United Podemos bloc and the president and herself due to the merger.

In Podemos they did not like the silence and today from their part of the Government there has been criticism of the operation itself, due to the doubts and "concerns" it generates.

Calviño has highlighted that throughout his career, an important part of which took place precisely in Brussels, he has participated in many "concentration operations", and the great lesson learned, which is

"confidentiality", is the key


And it is clear that this affects the Council of Ministers itself.

Asked if he does not believe, like

Pablo Iglesias

, that a public bank is necessary, Calviño has replied that there already is one.

"We have a public bank, the ICO, which has proven to be essential

for an efficiently coordinated response to the pandemic. We have provided public guarantees worth

more than 100,000 million euros

, and the second line of 40,000 will be available shortly. million. The ICO is one of the most efficient institutions in Europe and an effective response to emergencies ", he has settled.

Asked specifically about the tensions with the Podemos bloc on this issue, the vice president insisted that "the Government has a very clear position on this issue: defend the public interest, maximize the value of public participation and strengthen the financial sector . There is no type of doubt about the commitment with these objectives that guide us these years "has concluded.

Budgets for 2021

The vice president has framed the position of the Executive on the merger in a broader framework, recalling that the

European Central Bank

and the Commission itself have advocated a concentration of entities.

Luis de Guindos

repeated it just a few days ago


But she did not want to get wet about what effects an operation of this caliber would have on the participation of the State and for the recovery of the billions of euros used to rescue the then savings bank.

"I do not like to speculate because there are negotiations between entities right now. And among the issues discussed is the participation of the State. I do not want to make an assessment but the objective will always be to

maximize the value of public participation

if in the end there is a merger," he said. indicated.

In the talks with the commissioners, the other big question is that of the Budget for 2021. Spain has had three years with extended accounts and there is no similar example in the EU.

In Brussels, the need not to repeat the same thing is stressed over and over again, especially due to the particular situation of the pandemic and with the approval this summer of a package of aid that will require approval by each country very specific and delicate recovery and reform plans.

"What is conveyed is the importance of Spain having budgets for 2021 beforehand that allow for a good articulation of community funds, among other objectives. Some that reflect the realities and needs of the country, income and expenditure forecasts that allow articulation action at the national level and the absorption of funds. We have not talked about another alternative to having a Budget as soon as possible, "said Calviño.

According to the criteria of The Trust Project

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