These BBVA salaries
- According to official data released in recent days, executives at BBVA’s headquarters continue to receive millionaire salaries – a pandemic – as well as many senior officials from large listed companies.
Carlos Torres, president of BBVA, earned EUR 4.09 million in 2020 – EUR 2.45 million with fixed salary and EUR 1.64 million for retirement provision. For its part, CEO Onur Genc earned EUR 3.43 million, with a salary of EUR 2.18 million and a supplement of EUR 1.25 million for fixed remuneration and mobility.
Their income could have been much higher, as these salaries are 44% lower than in 2019, as "at the time of the pandemic, the bank's leadership voluntarily waived its variable remuneration, on the basis of a recommendation from the European Central Bank". These are official data that has been released in recent days. Similar wages are levied on most of the domes of companies listed on the Ibex 35 (e.g. Repsol CEO Josu Jon Imaz received EUR 3.36 million last year) and on CAC 40 of the French State.
By exerting pressure on the representatives of employers' associations and related organisations, these employers unashamedly condition the economic, social and wage policies of governments. In the Spanish State, for example, increases in the Interprofessional Minimum Wage (SMI) and pensions have been monitored, monitored and suspended.
Millions of people have to survive each month with the SMI of EUR 950 or with pensions of less than EUR 1,000 because of them. Many others are unemployed or marginalised and live below the poverty line. A system such as the current – capitalist – system that generates so much wealth for a few and so much injustice and inequality for the majority of society is unfair, unsupportive and unacceptable.
People, groups, associations, political parties, unions -- we all have the opportunity to build an alternative system. The opportunity for another fairer system to prevent millionaire salaries from becoming millionaires of the wealth generated by a minority through the work of a social majority.
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