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La CCM ha sufrido en un año una fuga de depósitos de 2.000 millones | El Periódico de Catalunya | EconomíaThe CCM has suffered in a year a deposit drain of €2 billion | El Periódico de Catalunya | Economy
El vicepresidente económico del Gobierno, Pedro Solbes; el presidente de Castilla-La Mancha, José María Barreda, y las organizaciones sindicales denunciaron ayer la campaña de "rumores", "acoso" y "desprestigio" de la que Caja Castilla La Mancha (CCM) ha sido víctima durante el último año y que se ha traducido en una fuga de unos 2.000 millones de euros, según CCOO. La salida del 11% de los depósitos totales, sumada a la mala gestión de la entidad, hizo inevitable la intervención por parte del Estado el domingo para garantizar su normal funcionamiento y dar seguridad a los depositantes y los acreedores de la caja.[Spain's] economic vice-president Pedrio Solbes; the president of [the Autonomous Community of] Castilla La Mancha, and trade unions denounced yesterday the campaign of "rumours", "harassment" and "disrepute" that Caja Castilla La Mancha (CCM) suffered over the past year and which translated into a flight of approximately €2bn, according to [Communist trade Union] CCOO. The exit of 11% of deposits, added to the bad management of the entity, made Sunday's State intervention inevitable to guarantee its normal operation and reassure depositors and creditors of the Caja.
Había gran temor al día siguiente, pero en las oficinas de la CCM no hubo colas ni aglomeraciones de clientes exigiendo el reembolso de sus ahorros. "Sí ha habido retirada de fondos; algo más que otros días, pero el problema es que llevamos así año y medio", se quejaba un empleado de la CCM en Toledo.There was great fear the day after, but at CCM branches there were no queues or crowds of clients demanding the reimbursement of their savins. "There's been withdrawal of funds; a bit more than on other days, but the problem is that it's been like this for a year and a half", lamented an employee of CCM in Toledo [the capital of Castilla La Mancha].
El peor momento fue la semana del 16 al 23 de febrero, justo después de que la secretaria general del PP, María Dolores de Cospedal, impusiera a los consejeros de la entidad designados por su partido abandonar su puesto en protesta por la "falta de transparencia" en el intento de fusión de la CCM con Unicaja. Solo en esa semana se retiraron 320 millones de sucursales de la CCM según estados contables a los que ha tenido acceso EL PERIÓDICO. En lo que va de 2009 se han retirado 500 millones, según los mismos datos.The worst moment was the week of February 16 to 23, just after the secretary general of the [centre-right opposition party, both nationally and in Castilla La Mancha,] PP, María Dolores de Cospedal, imposed the departure from the board of the members designated by her party in protest over "lack of transparency" in the attempted merger of CCM with Unicaja. Only that week €320M were withdrawn from CCM branches according to accounting statements that El Periodico has had access to. So far in 2009, €500M have been withdrawn.
So, effectively, there has been a slow, quiet run on the bank.

€500M is about the size of the current "hole" in the CCM's accounts.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Tue Mar 31st, 2009 at 06:29:50 AM EST
[ Parent ]
Actually, the hole is something like €1.3bn, though Unicaja wanted €3bn from the Government to sweeten the takeover deal. The Government baulked and here we are.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Migeru (migeru at eurotrib dot com) on Tue Mar 31st, 2009 at 12:28:15 PM EST
[ Parent ]

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