El papel del Banco de España en el hundimiento de las Cajas de Ahorro españolas

Zusammenfassung

In the last decade, the organization of the Spanish financial system has had an unimaginable scope seizure and it can be said without any doubt that the change has been historic. From a system in which savings banks and banks by 50% represented the division of financial institutions, to a new scenario in where savings banks have almost disappeared and banks have completely occupied the whole Spanish financial system. This change could be hardly explained blaming one or another institution. Logically, an economic crisis will affect to varying degrees all of them. Although it had been expected that some of the savings banks would have perished due to the crisis embite, but all? Moreover, it would also have been expected that the crisis had affected some banks, but so few? Were they so good or did they know more than other financial institutions? 2 In this paper we will try to analyze the behavior of the Central Bank of Spain in this process and we will see how their decisions or lack of decisions have contributed to deepening economic crisis and the collapse of the entire sector of Spanish savings banks.