Madrid under pressure to probe Bankia collapse |
| Financial Times - May 30, 2012 |
The Spanish government is under mounting pressure to open an investigation into the collapse of Bankia amid public anger at the salaries of its directors and the losses of savers who bought the rescued bank’s shares.
Luis de Guindos, Spain’s finance minister, described €20m of severance pay for two directors of the bank as “unacceptable”, calling for an investigation by the Bank of Spain, at the same time as the central bank’s outgoing governor hit back at a “smear campaign” against him in the wake of the Bankia rescue.
Speaking in parliament, Miguel Ángel Fernández Ordóñez, who on Tuesday announced he would step down from his post a month early after repeated criticism of his supervision of banks, said he wanted to speak about the Bankia crisis but that he had agreed not to at the request of the government.
Read Full Article from Financial Times
- Posted: 2012-05-30 14:26:56
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