The rescue of the Spanish banks in 2012, sunk by the explosion of the real estate bubble at the beginning of the crisis, it cost close to 61,000 million euros to the taxpayers, according to a provisional estimate of the Court of Accounts released Wednesday.
“The cumulative cost of public resources used in the process of bank restructuring was, at the end of 2015, in 60.718 million euros,” says the institution in a report released Wednesday.
The period posted begins in 2009, a year after the bursting of the housing bubble that was generated during the euphoria of investment of the years 2000, with the granting bulk of mortgage credit that is then not able to reimburse.
The banking sector required a bailout in 2012 consisting of a loan european 41.300 million euros.
Bankia, born out of the merger of seven savings banks in difficulties, was the main beneficiary: after an entry in stock market disaster in 2011, had to be saved from bankruptcy with an injection of € 22,000 million.
The Spanish government is not expected to re-privatize the entity until the end of 2019.
The Court of Auditors points out that the estimate of the total cost of the bailout “cannot be considered final, in so much that are not have completed all of the processes of restructuring”.
For the moment, the Spanish State recovered from the banks between 3,000 and 5,000 million, according to the estimate of the Fund for Orderly Bank Restructuring (FROB) and the Bank of Spain.
Madrid, for their part, repaid to 6,600 million to the European Union. (i)
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