スペイン国立銀行前総裁のMiguel Angel Fernadez Otdonyezは、Bankia銀行破綻問題で経済大臣のLius de Guindosの対応の貧さを指摘
Las confidencias de un gobernador
Fernández Ordóñez se desahogó ante el juez del ‘caso Bankia’ con parte de las críticas al Gobierno que ha callado por considerar que era lo más responsable
Miguel Jiménez / Francisco Mercado Madrid 11 MAR 2013 - 00:02 CET
The secrets of a governor
Fernández Ordóñez vented before the judge of 'case Bankia' with some of the criticism of the government has remained silent on the grounds that it was the most responsible
Miguel Jimenez / Francisco Market Madrid 11 MAR 2013 - 00:02 CET
Miguel Angel Fernandez Ordonez had just broken his silence since leaving his post in June last year. The former governor had chosen not to speak in public because it was considered more responsible attitude. And even at the hearing in Congress to discuss Bankia, bit his tongue again and again. "I decided to remain silent, as the situation and reputation of Spain was delicate and still continue some time in silence because, although the situation has improved somewhat, thanks to the ECB, unfortunately the authorities have a task ahead is still very difficult that no one should Complicating "he explained in a letter to the editor of the country on Jan. 9, when partially broke that rule.
He did it to rebut serious allegations launched by the Association of Inspectors of the Bank of Spain, who had said that the supervisor "looked the other way" to evidence of crime. Therefore, his testimony as a witness in the case Bankia, which has had access the country, has a special interest. In camera, and questions from the accusations and defenses of the defendants in the case Bankia, Ordonez took to vent and answer an "unwarranted and unjustified smear campaign", according to his version.
The IMF "was right" when he said that the restructuring had been slow
In his statement, Ordonez makes clear that management considers disastrous crisis that made Bankia Economy Minister Luis de Guindos. According to his version, Economics and supervisor were working together to find a solution to clean quietly injecting entity 10,000 million and relieve management Rodrigo Rato, but reserving the role of non-executive chairman. But, suddenly, in a weekend (the 5 and 6 May), Economy took over the situation, Rato forced out and left open a crisis that not only undermined confidence in Bankia, but the Spanish financial system as a whole.
Ordonez's thesis is that the Bank of Spain has a great experience on crisis management and bank interventions and that is best done without creating suspicion. And that Bankia did the opposite, to the point they entered a spiral of distrust which came to fear that Spain "could leave the euro or to default [suspend payment of the debt]."
In his witness statement there is also a defense of his leadership of the Bank of Spain. Ordonez starts explaining that he met with the credit bubble and brick and swollen when he took office in 2006. He points out that it was he who warned the then economic vice, Pedro Solbes, and economic responsibility of the PP, Cristobal Montoro, now Minister of Finance, coming problems and the need to create a fund to recapitalize institutions and thus acquire a tools that the Bank of Spain had exhausted the monetary union.
"The big banks are absolutely solid," according to Ordonez
The former governor admits that when the IMF noted that the restructuring process has been slow, as noted by the IMF, "was right", but at the time said that it was not their responsibility, but the consequence of poor legal framework, the political interference and autonomous communities that did not want to put much money. Ordóñez emphasizes that "big banks are, fingers crossed, absolutely solid." And as the great had weathered, was only inject money in exchange for a restructuring that has the number of entities that spend more than 50 to a dozen.
Ordonez also takes the opportunity to defend the model of supervision and attacks the thesis defended empower inspectors without going through "filters".
In his defense there as guarantor (too liberal or permissive, according to industry sources) that exercised authority as governor, so different from its predecessors Mariano Rubio and Luis Angel Rojo. "The Bank of Spain does not decide or approve mergers," said when asked if pressured Caja Madrid and Bancaja to merge. In addition, Ordonez insists he was not aware of the details: "I only had the fat." "The work I have done magnificently my staff." "I had other things to do." "I do not know who stopped [the idea of merger with La Caixa Bankia]". Ordonez assumed that four or five boxes said no to the operations supervisor looked good. At other times, the governor was told no.
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