We are on the verge of a ‘coup d’état’ in Kutxabank if we do not stop the political dynamic that the Spanish Government has launched and that has supported the PNV, the PSE and the pp. It must be resolved by 31 December. And there is a great deal of haste in arming the balances of forces that can change as a result of the forthcoming elections. The process of transforming savings banks into bank foundations is under way. In this way, control over Kutxabank would be lost, as the entry of private shareholders would occur. In other words, the current Kutxabank, the axis of the Basque financial system, would become private. Its heritage has been built up over 100 years with the savings of Basque citizenship. This heritage can be used for economic, industrial and social development as well as for social action. If privatized, it would be transferred to private shareholders and investors. A real “coup d’état”: from an entity with public and social control to a society to the interests of private capital.

In Basque society there are political parties, trade unions and social partners who have shown their rejection of this path. Some have also proposed an alternative for Kutxabank to act as a public and democratic institution. In this sense, some are working on the creation of a social tide that makes this objective of privatization impossible. The Kutxabank Publikoa platform is driving this tide in all villages through talks, debates and mobilizations. The priority is not to lose the citizens’ savings, to guarantee social welfare and to give the financial institution an economic and democratic future. To do so, Kutxabank, heir of the traditional savings banks, must have public and social control, be at the service of the Basque Country. And not the private interests of investors.