Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

Giants

  • While the world lives in a critical situation due to the damage of COVID-19 (deaths, unemployment, closure of companies, uncertainty…), financial capitalism continues to play the biggest of all, despite the negative consequences for thousands of workers.

19 November 2020 - 16:11
Zarata mediatikoz beteriko garai nahasiotan, merkatu logiketatik urrun eta irakurleengandik gertu dagoen kazetaritza beharrezkoa dela uste baduzu, ARGIA bultzatzera animatu nahi zaitugu. Geroz eta gehiago gara, jarrai dezagun txikitik eragiten.

Recently, in this game the bank of Basque origin BBVA has been incorporated – Banco Bilbao was founded in 1857, later joined the Banco Vizcaíno and finally the Argentinian. In the Spanish State, this phase started recently with Bankia and Caixabank, followed by Liberbank and Unicaja.

Now, BBVA and Sabadell have embarked on a round of negotiations in which both parties are committed. And at any time, the Banco Santander is also going to take the step of being a bigger giant. The Ere for 4,000 workers is already being negotiated and the closure of 30% of the company's offices.

Spanish state banks owe taxpayers EUR 60 billion for the 2008 bailout, and now they appear in public to see who gets the biggest business of the year. When will the rescue invoice be returned? The Government of Spain, the PSOE and Podemos are responsible for the situation in Catalonia.

Capitalism, in this financial case, doesn't care about what those giant games carry. They are looking for the highest return, with the lowest possible cost and good dividends to their shareholders, although to do so they have to close thousands of offices and destroy thousands of jobs. Suffice it to recall that in 12 years these banks have closed 50% of their offices and dismissed 37% of their staff. In 2008, the sector employed 276,497 workers, of whom 115,000 have been laid off.

A guru of global capitalism, founder of the World Economic Forum, Klaus Schwab, said: "I am worried about the risk of the social crisis breaking out," he added. Apparently, giant banks are not so worried.


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