According to who was it superficial? Is this “lay into Spanish economy forum”? Some of it reads like that. Sure, we have a rampant unemployment problem (although it has always had one of the highest unemployment rates in Europe this has changed much).
Spain was the ONLY county in the EU to put forward all its Cajas and Banks, I remember a little bank called Northern Rock going belly up, ok, its completely nationalised so it doesn’t count.
And what Cajas were are considered dogdy? Caja Duero, Caja Manresa…I didn’t even know they existed!
Cajasur was run by Priests! Yes, those gurus of the modern economy!! What did you expect. One of the reasons that Cajas are separated from banks is because they are fundamentaly different in their composition with a huge political involvement and hopefully their failing their test will eventually pave the way to their de-politicisation (hopefully). When politians and priests run the kitty, of course its going to go wrong. There have been some steps, such as Cajasur has been bought out by BBK and Caja Navarra (didn’t fail) is the first bank in Spain to involve foreign capital.
Hey, but some of the most solvent and safest banks were…Spanish, Santander and BBV. Now I have heard of those two.
Now I’m not one to get into an argument about this, hell no, I ain’t no financial analyst and have a tough time understanding by pension plan, but what I do see in the forum is a lot of stuff that just isn’t true and every so slightly tainted.