April 15, 2021

Rato says that the government pressured him to increase the provisions "without any legal basis"

Rato says that the government pressured him to increase the provisions "without any legal basis"


The former president of Bankia Rodrigo Rato has denounced on Monday that Government was pressured to increase sanitation "without any legal basis and without the coverage of the accounting standards of the Bank of Spain ».

To questions of the chief anti-corruption prosecutor, Alejandro Luzón, Rato has related that the Government urged him, «en a meeting where three competitors were present », to raise from 7,000 to about 15,000 million euros the write-downs. This request, "which had not been made by the Bank of Spain", did not respond to a change in the "environment", and was raised during a dinner held on April 15.

On this point, Rato has ensured that he does not know "what was asked of other entities, but at dinners with me they bring in 'others' to tell us the figures," a sign of the "nervousness and panic" of the authorities and the «Political pressures» which he had to face.

As a result, a "chaotic macroeconomic situation" was developed and a possible increase in provisions was designed. But «We elaborated it at the request of the Ministry of Economy, not from the Bank of Spain », since the regulator« does not propose anything to me, it is the Ministry », he reiterated.

Petition for resignation

«The president of BBVA asked me to resign on May 6 -2012- in the offices of the Ministry of Economy in the Paseo de la Castellana ", has also indicated the former economic vice president of the Government in its fourth session of interrogation by the Anti-Corruption Prosecutor in the context of the trial for the Bankia's IPO in July 2011.

This fact is part of the moment in whichthe three main Spanish bankers of the moment, Emilio Botín (Santander Bank), Francisco González (BBVA) and Isidro Fainé (CaixaBank) held a meeting with the then Minister of Economy, Luis de Guindos, about the Bankia crisis between May 4 and 6.

Shortly after Gonzalez asked for his resignation, Guindos would do it as a minister: «I agreed with what the minister had asked me, since I thought of the interest of the shareholders. If I was a problem, I did not mind leaving, "he said.


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