Call to ‘freeze mortgages’ to Spanish banks that announced record profits
After Spain’s top banks announced record profits, the left-wing coalition government called on banks to ‘freeze mortgages’.
Two of Spain’s largest banks, Santander and BBVA, have announced their 2022 financial results.
Thus, Santander announced a profit of 9,605 million euros and BBVA of 6,420 million euros last year.
The leader of Unidas Podemos, the junior partner of the coalition government, the Vice President and Minister of Labor Yolanda Díaz criticized the banks that announced high profits, alleging that they were taking advantage of the current economic crisis.
‘STOP Mortgages, BALANCE YOUR PROFITS’
“The rise in Euribor has made the average mortgage more expensive by €250 a month, while bank profits have reached all-time highs,” said Díaz. The crisis cannot be an excuse to earn more. Freeze mortgages, balance your profits,” he said.
The President of the Government Pedro Sánchez, in a statement during the week, criticized the increase in profits of large companies despite the decrease in the purchasing power of Spaniards with each passing year.
Sánchez said: “In the last 10 years, the price increases of the products that Spaniards buy have been 17.6 percent on average, while the increase in employees of private sector companies has remained at 10 .6 percent. This is unacceptable. In 1999, a Spaniard could buy a house for the sum of his 4 years of salary. Now they can’t buy a house even with a full salary of 8 years. I think this is not fair. Why are the profits distributed to a few people? This must be changed, ”he said.
THE BANKS ARE NOT READY TO CHANGE THE CURRENT SYSTEM
The partners of the left-wing coalition government in Spain have announced that they will work to freeze mortgages or balance the large income of companies that only benefit a small class.
The banks, for their part, stated that they are not in favor of changing the current system.
The president of BBVA, Carlos Torres Vila, defended the role of companies in the market economy, stating that the high incomes of banks are “misinterpreted” by politicians.
Vila has also indicated that freezing mortgages “will not be a viable solution.” (AA)