Cajas de ahorro, bancarización e inestabilidad financiera
Abstract
The Cajas de Ahorro have been emblematic financial
financial system. With the current crisis´s impact on the Cajas de Ahorro, Spain´s
central bank has submitted them to a process of intervention, which has led to a
process of concentration and centralization through mergers in
improve their balance sheets, and, therefore, convert them into banks. Turning the 45
Cajas de Ahorro into banks has been the response to the financial and economic crisis
in the Spanish financial system.
sector. Yet facing deep financial instability throughout the financial system,
particularly so with the Cajas de Ahorro, their transformation into banks does not
resolve the original problem.