In Basque Country (including la CAV and Navarra), we have important financial institutions of three types: banks (BBVA and Banco Gipuzcoano), Savings Banks (BBK, Vital, Kutxa and Caja Navarra) and Credit Unions (Caja Laboral, Ipar Kutxa and Caja Rural)
Till now, the financial institutions in Spain and specially in Basque Country have a solid performance to tackle the global crisis.
In fact, Basque Country has a «AAA» from Standard & Poor’s meanwhile Spain has only an «AA+», being the first case in Europe that a region of a estate has more rating than the estate.
In this image, you can see the good position of three of theese financial institutions, with facts from JP Morgan
(I saw it in: Hay cajas y cajas: Euskadi is different (2). arkimia)
If we have in mind that the model of business on which our autonomous community is based has little or nothing to see with the rest of the state, probably the consequences of this crisis will be received by us later. In this case our financial institutions will be suffering the consequences of the crisis(Unemployment that leads to non-payments) when the rest of the state will be generating employment.
Let’s speak about the economic situation in one year and we will see.
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