El papel del sector bancario en la crisis subprime: causas, consecuencias y perspectivas de futuro

Abstract

[Abstract]: The year 2007 will be remembered for the beginning of one of the most important crisis in history. This crisis brought instability and hard consequences in every economy in the world. Million of investors in ruin, bankrupt companies and tens of countries in recession have been just some of consequences of this crisis. Spain had a best situation against the crisis in comparison to other developed countries because the spanish banking sector avoided “toxic products” and it practiced a traditional model of banking. Despite this, the impact of the crisis in the spanish country was so hard because the inoperance of the government. First, it denied the crisis and, when the consequences of this one were evident, it starts to apply some measures based in a big increase of public spending with disaster results. Finally, it was forced to demand outside help to the European Union. The banking rescue meant the beginning of a concentration banking process based on the recapitalization and restructuring of banking companies doing practicaly disappear the “saving Banks” model. At this moment, the Eurozone is developing a new process called Banking Union to establish a common regulatory and supervisory framework in every member country to avoid the effects of future crisis.

[Resumen]: The year 2007 will be remembered for the beginning of one of the most important crisis in history. This crisis brought instability and hard consequences in every economy in the world. Million of investors in ruin, bankrupt companies and tens of countries in recession have been just some of consequences of this crisis. Spain had a best situation against the crisis in comparison to other developed countries because the spanish banking sector avoided “toxic products” and it practiced a traditional model of banking. Despite this, the impact of the crisis in the spanish country was so hard because the inoperance of the government. First, it denied the crisis and, when the consequences of this one were evident, it starts to apply some measures based in a big increase of public spending with disaster results. Finally, it was forced to demand outside help to the European Union. The banking rescue meant the beginning of a concentration banking process based on the recapitalization and restructuring of banking companies doing practicaly disappear the “saving Banks” model. At this moment, the Eurozone is developing a new process called Banking Union to establish a common regulatory and supervisory framework in every member country to avoid the effects of future crisis.