The announcement of the Euskaltel control operation by MoreMobile has provoked many economic, social and political reactions. For the Basque Government and the PNV, the operation has been "good" and "satisfactory". Not so much for those in charge of the Chamber of Commerce. For the main opposition party in the Basque Parliament, EH Bildu is a "spur" and a "fraud" for many sectors of Basque society. For the signatory of this column, the operation has been as follows: the public money that was used to create the expoliation and iruzurra.Euskaltel, is now put at the service of vulture funds. Even more serious is the fact that those responsible for the Basque Government have lied: They committed themselves to ensuring that Euskaltel maintained its roots in the territory.
However, here we would like to highlight another issue: Euskaltel managers will receive an incentive of EUR 26 million. Two lessons. First of all, managers have been given an impulse to speculate on the future of Euskaltel. In this way, the company has been controlled by the vulture funds that feed MasMobile. The second, capitalist philosophy has gone to the extreme in this operation. While managers are given incentives for speculation, they forget their employees. Would these workers have done something about setting up a company that is so rich in candy for vulture funds?
It is obvious. Euskaltel and his political leaders do what raw and savage capitalism says. After giving great incentives to managers, the MasMobile Group will destroy jobs and relocate the company. When that time comes, because it will come, then you will also receive a millionaire prize. It's a capital law.