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

The bank always wins

Banks have begun to show the good results of the 2013 financial year, despite the fact that the crisis has continued to attack companies and families. By way of example, the five largest banks in the Spanish state (Santander, BBVA, Caixabank, Popular and Sabadell) obtained €7,674 million in 2013, four times more than in 2012. Santander won 4,270 million euros, 90% more; BBVA, 2,238 million, 32.9% more, and the profits of Caixabank and the others increased by 503 million, 119% more. The Basque boxes have not yet produced any results, but they will go in that direction.

Banks win a lot, because they don't risk families and businesses. From the European Central Bank (ECB), money is obtained in exchange for almost 0% interest and, instead of credits, public debt is purchased at 3%, 4% and 5%. The balance of the public debt of the Spanish financial institutions amounts to EUR 200 billion. That's how capitalism works, and that's what its political managers, the conventional governments, let it do. With full pockets, measures are imposed against the workers and against the citizens.

As long as banks win, people are reduced in salaries, pensions and aid; companies are closed; payments are ruined and paralysed over and over; poverty, unemployment and precariousness are on the increase. Precisely, as the mirror of the wildest capitalism, the banks are responsible for this situation. Because they impose anti-social policies, cause detrimental effects on citizens and drown businesses and families, because they are not granted credit. It's your biggest business to play with public debt. The bank always wins and if it loses, they save it with our money. In this context, the mobilization against poverty and precariousness initiated by the Basque trade union majority and society through the Gune Platform is very important.


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