Recapitalisation of banks

16.9.2016

Question for written answer P-006919-16
to the Commission
Rule 130
Enrique Calvet Chambon (ALDE)

Over the past few years, we in Spain have seen our banks bailed out with public money in a process spearheaded by the Commission. In other words, taxpayers’ money has been used to shore up the banks in order for them to survive and continue to play their vital role in the economy.

The Bank of Spain has recently revealed that of the EUR 5.1303 billion of public money received by the banks, only 5% has so far been recovered. It also stated that some EUR 38.012 million cannot be recovered.

In light of this:

• 1.Does the Commission take the view that the half-baked rescue arranged for Spain has been successful for its citizens?
• 2.Does the Commission not think there is a need to set up an organisation to monitor and demand the return of this money by the government concerned?
• 3.The government has made assurances on a number of occasions that taxpayers would ultimately see the entire amount refunded. Does the Commission not think that there should be a review of the ‘rescue’ of Spain, of its impact on society and of the effects it has had in terms of inequality?