Borrell, for a handful of (9,000) euros

Borrell, for a handful of (9,000) euros



Guilty. When one does not appeal the judgment of a judge and accepts the sentence – in monetary cases in most cases, a fine – is because he is considered guilty. As is. Give the explanation you give. And that is precisely what has happened to the current Spanish Foreign Minister, Josep Borrell, a piece of news that «per se» seems to have gone virtually unnoticed by running a tight veil over having complied with the punishment imposed by the Spanish supervisor. Is it true that if one says "come, go, charge with the penalty, pay the fine and forget what we have done" is exempt from guilt? DO NOT. By deciding to comply with the sentence, and not resorting to it, he admits that he has done so. And the facts are very serious as to "go on the run."

The case is that the Foreign Minister is the last of the ministers of President Pedro "Okupa" Sánchez who is involved in a scandal. A little over a week ago, the National Securities Market Commission (CNMV) confirmed the resolution of a case against Borrell for the sale of Abengoa shares worth 9,030 euros when he was a director of the company when he knew about it. sleepless. Immediately, the minister denied the biggest: he had not used privileged information when he was a counselor at the energy and infrastructure firm and he said he would appeal the case opened against him at the end of 2016 by the CNMV.

Well, where "I said, I say Diego". This week, Borrell changed his mind radically. I had two options, although for me, three. Stuck in state management tasks as is, or accepted the sanction of the supervisor chaired by Sebastian Albella or appealed to the Ministry of Economy, previous step to go to court. And that a minister appealed to his own Executive put him in a more than delicate situation. So, to abide by the sanction for using privileged information. Guilty, let's go. What makes him the prime minister sanctioned for using in his previous managerial position to profit from internal information of the company. And nothing happens? The third option, for me, of course, was to resign yes or yes.

With his explanations, I also ratify my sentence. To questions from the PP in the control session, Borrell referred to the case as "the operation of selling shares of a portfolio that had been entrusted to me" and admitted that "it was not appropriate at the moment and because of the appearance of illegality." Although he conceded that "it was an error that can constitute only an administrative fault". In the corridors of Congress, to questions of "happy" journalists (what we bother with our impertinent doubts, right minister?), Refused to detail when he gave the sales order. «I will not give more information». The CNM
V dated the operation in November 2015, and on the 25th of that month Abengoa announced that it would go to the contest. "It is an operation on a portfolio of securities managed by a relative" (by the way, his ex-wife), which represented a "very small" part of the portfolio he managed in the company and which "unfortunately" later lost. "If I had had privileged information, I would not have lost it." Already. Well, that's it, blah blah, blah blah, blah blah …

If the CNMV has issued judgment is because there is indeed a very serious infringement of the Securities Market Law, in this case of "insider trading", or what is the same, to negotiate in the stock market making an improper use of information privileged, where the insiders (those who have privileged information, usually administrators of listed companies and who provide investment or advisory services) are advantage players who negotiate without taking market risk.

In this case, if he did not commit "insider trading" as he wants us to believe, it would be possible to appeal this decision with a prior appeal to the minister (minister, in this case) of Economy. "It does not seem politically correct," said Borrell, who also refused to apologize to Abengoa shareholders who lost all their investment. «It is that I was also a shareholder». Ah well, of course, badly of many … He claims that he himself ate his shares – which according to the company's corporate governance report in 2015 amounted to 71,000, and that they had reached more than 300,000 euros – but it is done the crazy and ignores that the advisors have to report these operations.

In short, the minister immolates himself – from the administrative point of view, because he pays the fine – but he does not pay the penance – from the political point of view. An old Spanish saying says that "in sin it leads to penance", to designate a bad action, that in committing it, it bears a kind of suffering for the person who executes it. Well, that. To suffer. I'm sorry, but you have to resign. Go with the maximum degree of honesty promised by the then head of the opposition to the former Executive of Mariano Rajoy, the Doctor «Okupa» Sánchez. Pump-proof! .



Source link