Arab money has not arrived, nor is it expected The 450 million euros from Qatar and the Arab

Zapatero announced for the savings banks have come to nothing Zapatero announced in March that the emerging Arab countries would participate in the recapitalization process of the savings banks. The President of the Government visited Qatar and the Arab Emirates, and brought with him the commitment of the authorities and large companies of these two countries to inject 450 million into these entities. Six months later, there is no trace of that money. Rodríguez Zapatero 's objective was to attract investors for different sectors of the economy and facilitate contracts for Spanish companies. Qatar committed to investing 3,000 million , of which 300 would be to contribute to the capital needs of the savings banks. The Arab Emirates announced an injection of 150 million to capitalize a Spanish entity. In total, these two countries were willing to contribute 450 million euros . The international promises did not end there .


This item of 300 million has already been allocated, but depending on the opportunities, the investment may be greater,” declared a director of Qatar Emirates Holding in those days . The crown prince of the emirate of Abu Dhabi, Mohamed bin Zayed al Nahyan, also assured that 100 of the 150 million were already committed, while the other  UK Mobile Number List 50 were going to be subscribed in the short term. Well then. As El Confidencial Digital has learned from financial sources, among the international institutional investors that have attended the Bankia and Banca Cívica IPOs, there is no money from these two Arab countries . In fact, in one of these entities that has just appealed to the markets to recapitalize, they assume that this injection will never arrive. “That money has not been received, nor is it expected . Among foreign investors , the bank chaired by Rodrigo Rato managed to place 100 million (around 3% of the total Public Subscription Offer. Meanwhile, Banca Cívica placed 72 million, 12% of its total OPS .





The rest of its Share offers have been covered with individuals and the help of Spanish financial entities, requested 'in extremis' by the Bank of Spain . China's 1.5 billion Zapatero announced an injection of 1.5 billion euros for Spanish savings banks with difficulties after a tour of Asia with potential investors. As ECD reported , no financial entity has received even one euro of the aid promised by the President of the Government three months ago – see it here -. Within the CECA, it is considered that both of Zapatero 's announcements were more of a declaration of intentions, since they understand that in international relations only “what is signed” in the form of agreements, conventions or other similar instruments is safe.The economic vice president qualified the announcer's insinuations: “I have no idea where the Treasury inspectors go . They have functional autonomy. The Tax Agency develops its own inspection plans. I also tell him that I don't think it is bad that they carry out their work in all areas. But, I insist, it doesn't even occur to me to ask what they do or what companies they inspect.