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Xavier Freixas comments on the resignation of Rodrigo Rato

[08/05/12]

Xavier Freixas, director of the Master in Banking and Finance and the Master in Financial Markets comments on the possible rescue of the Spanish bank Bankia and the resignation of its president Mr. Rodrigo Rato, in the newspaper ARA.

We have a transparency problem. We do not know what our banks have, a situation similar to the one the US lived in 2007. In any case, the problem still is the valuation of the real state assets. Everyone is waiting for the prices to go down 20% more. Every institution could create a bad bank that would be closed as soon as the toxic assets are sold. Sweden used this system successfully some years ago.

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