Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-13-Speech-1-202-000"

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"en.20120213.20.1-202-000"2
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"Madam President, as you will know, the Spanish financial sector has been restructured since 2009. Many savings banks have been nationalised or transformed into commercial banks and some of them have received public money. The new Spanish Government has now opened another round of consolidation in the banking sector. I am very concerned to see a major Spanish bank that has received more than EUR 4 000 million of public aid going to bid for another savings bank. I am especially concerned because the new Spanish Government has very recently changed the rules of its bailout fund in order to let banks receiving public aid be able to absorb other savings banks that are in trouble. This policy change represents a breach of European rules on state aid and competition in the banking sector. No bank that is receiving public money should be given the chance to bid for another."@en1
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