Bank of Spain hits at delays in caja mergers

Miguel Ángel Fernández Ordóñez, Governor of the Bank of Spain, on Tuesday criticised some of the country’s savings banks and regional politicians February 2010 for delaying the mergers and cutbacks he regards as vital for the health of the crisis-hit financial system.

Mr Fernández Ordóñez’s unusually forthright comments at a conference in Madrid was said to reflect a growing sense of alarm among Spanish bankers and finance officials about the slow pace of financial sector reform.

ESO: Background information: Spain's cajas prepare to 'cross the desert' amid property woes http://www.europeansources.info/record/spains-cajas-prepare-to-cross-the-desert-amid-property-woes/

Website: Spanish Confederation of Savings Banks (CECA) http://www.ceca.es/en/home.htm

Website: Banco de España / Bank of Spain http://www.bde.es/homee.htm

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