Friday, May 11, 2012

News: Bankia boss resign as rescue looms

This bit of a news  is about the Bankia boss resignation. The main reason of Rodrigo Rato's resignation is the rescue that Bankia will suffer due the poor economical conditions. It seems that Bankia needs about € 7.000 million. Bankia is a result of a fusion between 7 banks, in 2010. Nowadays is the forth bank in Spain. Although President Mariano Rajoy said he never rescue any bank with public money, Spanish government will save Bankia using public money.
I can't understand how a private organization that sponsors a MotoGP team must be rescue. Furthermore, give public money to banks isn't the best solution. On one hand, it's true that the money of people be lost but, on the other hand, banks are the main cause of the crisis and Spain's government do economic cuts to people. Why we should save Banks, but let fall other companies? Are they different? 

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