Body trusts that there will be no conflicts with Brussels because of the BBVA Grandpa to Sabadell

The Minister of Economy, the Trade and Company of the Government of Spain, Carlos Body, is convinced that there are none No conflict With the European Commission because of the public offering for the takeover of shares that BBVA has been launched on Banco Sabadell. “We, in the legal framework, are very respectful for our domestic framework, according to the procedures, respect for the deadlines, and therefore I believe that there should be no conflict, because I also think that our domestic regulations are perfectly tailored to the objectives and with European rules,” he defended the body in statements to the series.

After the decision that the Ministry of Economy yesterday was adopted to set up the grandfather to the Council of Ministers to analyze whether it imposes additional conditions on the operation, except those of the competition, insured sources of the European Commission that they see no reasons for the Spanish government to block or reject the grandfather that a decision that corresponds to European prejudices.

According to the same sources, Brussels considers that the competent authorities who can express their opinion on this agreement have already taken. BEuropean Central Anco (ECB), who thinks about solvency, the grandfather approved months ago. A few weeks ago it was also approved by the National Commission of Markets and Competition (CNMC), the authority responsible for investigating the operation in accordance with the competence criteria. That is why Brussels expects the government to join the ECB and the CNMC and approve the grandfather.

Asked whether this reaction from Brussels has surprised him, the body indicated that two important areas must be distinguished: the legal, where the Spanish government is “meticulous and guarantees with the national procedure and regulations”, and the others would be those of the content, how Spain believes that you should go to the Bankunie and how the financial system should be to be able to compete internationally. He has repeated that the Spanish regulations are ‘perfectly tailored to European regulations’.

Request

Meanwhile, the president of the employer, Antonio GaramendiHe asked this Wednesday to decide “already” and soon resolve it about the purchasing operation from the BBVA to Sabadell because it would be “logical” and because the affected are “more than a year” in Vilo. “

“You cannot be months and months with a subject that is important for both an entity and for another and for shareholders,” Garamendi said in the context of a business meeting.

Asked about the decision of the economy to set up the grandfather of ministers, Garamendi has insisted that the government is resolving quickly, because “instability is not good”, although he remembered that the employer is not in the operation.