The brick crisis has led to thousands of bankruptcies, and now the People’s Bank, which had some EUR 40 billion in toxic assets, has arrived. The victims are shareholders and bond owners, who have completely lost their investment and have been left out of business. Depositors are guaranteed their savings with different limits. And what is going to happen to its 12,000 workers, who are going to be the victims of job cuts and regulatory dossiers, is in doubt.

All of this, however, has some responsibility that cannot be taken away for free. The first responsibility lies with the politicians, who are responsible for the supervision and control of banks: The Bank of Spain, the National Securities Market Commission, the Spanish Ministry of Economy, the European Central Bank… Everyone said that the People’s Bank was trustworthy. The bank presidency and the members of the board also have accounts to clarify, as, despite the circumstances, they have benefited from millionaire pensions.

The Spanish Government considers that the operation will not cost a euro to the taxpayer, according to the same sources. The same was said about the bailout of the bank, which as a result of that lie had to take EUR 60 billion out of public coffers. Is this not yet another lie? Once again, the taxpayer will pay for the mismanagement of governments and the disastrous economic policy. It is shameful to see the members of the bank, with the president in the lead, who are still in office, as if nothing had happened.