Brussels has opened proceedings against Spain for the laws used by the BBVA in the Sabadell stock acquisition operation
The European Commission considers that the laws by which the Spanish Government has conditioned this operation are contrary to the free movement of capital, giving the Spanish Government a period of two months to give explanations.
The European Commission has opened a punitive file to the Spanish Government under the conditions imposed by the BBVA on the operation of acquiring shares in Sabadell, considering that the Spanish Government has gone too far and acted with arrogance.
The body chaired by Ursula von der Leyen considers that, following the approval of the National Competition Commission (CNMC), with certain commitments, the Spanish Government did not have to submit the decision to the Council of Ministers, although Spanish law provides for it.
Brussels believes that the 2014 Spanish law on banking organization, supervision and solvency and the 2015 Royal Decree implementing it give the Ministry of the Economy, headed by Carlos Cuerpo , too much power and does not impose limits on decision-making.
It should be recalled that the Council of Ministers approved the merger of BBVA and Sabadell in June, but under certain conditions: if in the three years the two entities maintain separate legal identity and heritage, and each manages the activity independently.
The Minister of the Economy, Carlos Cuerpo, has once again supported the position of the Spanish Government. In any case, they have two months to respond to the letter from the Executive of the European Union.
More news about the economy
A worker dies falling from a roof in Vitoria
The accident occurred on Tuesday, but was reported today.
The underground roads linking Portugalete and Leioa will begin in the first half of 2026 with a budget of 543 million
The General Representative of Bizkaia, Elixabete Etxanobe, has argued that the tunnel under the river "is neither a whim nor an idea" and "a necessity" for the territory.
Renting a flat in summer on the Basque coast has become a luxury within the reach of a few
Holiday rental prices have risen 40% over the last five years. Many owners are looking for an economic benefit: they prefer to shorten rent terms and increase income.
The Basque economy has grown 2.2% since last year
Employment has increased by 1.4 per cent in the second quarter, according to Eustat data. Compared to the first quarter, both GDP (0.5 per cent) and employment (0.3 per cent) have increased.
The Basque Government envisages a margin of up to €1,385 to negotiate the minimum wage in the ACV
The Department of Economy, Employment and Employment proposes a wage gap after analysing the socio-economic reality of the Basque Country. The study has been strongly criticized by ELA and LAB and calls for an interprofessional minimum wage of its own for the ACV.
The Basque Country will manage non-contributory family social security benefits
The Basque Government will take over the management and payment of various non-contributory family benefits from the Social Security through a transfer that will benefit some 20,000 people in the Basque Country and involve an investment of around EUR 100 million.
The Government and the Spanish Government have facilitated the participation of the SEPI in making the Talgo operation viable
Last week, the Basque Government accused the SEPI of "retracting" the purchase of Talgo.
Euskadik babes ofizialeko 1.000 etxebizitza berreskuratuko ditu irailetik aurrera
Erabaki "estrategikoa" da, Euskadiko etxebizitza-parke babestua indartzeko eta, aldi berean, 20 milioi euro inguru sartzeko aukera emango duena. Diru hori alokairu-erregimeneko etxebizitza publiko berriak eraikitzeko erabiliko da oso-osorik.
The Ertzainas will start collecting salary increases on the October payroll
The Governing Council has adopted a decree validating the agreement regulating the working conditions of the Ertzaintza (until 2028). Agents will receive a minimum annual increase of EUR 4,200 gross and will begin to receive them on the October payroll.