Recapitalise or die — caja reform accelerates
Spain’s government upped the pressure on its troubled savings institutions this week, setting an effective deadline of October for cajas to complete the Eu20bn recapitalisation they still require or face forced conversion into banks.
The sectors accelerating changes were then reinforced by its largest institution and one of its newest.
La Caixa announced plans to move its banking business into its listed industrial holding unit, Criteria Caixacorp. It is in negotiations with the Bank of Spain (BOS) and the Catalonia regional government
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