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Brussels will demand from the Bank of Spain a harsh adjustment for the intervened entities: lay off employees and massive closure of branches The rescue of the Spanish banks is going to have a hard impact on the workforce, especially of the entities intervened by the Bank of Spain such as Bankia, Novagalicia and Catalunya Caixa, which will have to undertake more than 20,000 layoffs in total and close a significant number of offices to receive community aid. As El Confidencial Digital has learned from financial sources, the restructuring of Spanish banks and savings banks should be adopted progressively and conclude in June of next year . The technicians of the European Commission , who have worked for several weeks in the offices of the Bank of Spain together with senior Government officials, have already designed a tough adjustment plan to resize the Spanish financial system, which will especially affect the entities that require of European aid for its viability.
The Bank of Spain will have extra work this August , a traditionally quiet month in the corridors of the Cibeles building. According to the sources consulted, it will have to prepare before the end of that month restructuring and liquidation plans for the entities that have been nationalized through the FROB (BFA/Bankia, Catalunya Caixa, Nova Middle East Mobile Number List Caixa Galicia and Banco de Valencia) so that they can be supervised in September by the 'vigilantes' of Brussels . 20,000 layoffs and branch closures It is estimated, according to these sources, that there will be around 20,000 employees that these entities will have to do without in total. However, it is worth noting that the bulk of the layoffs will take place at Bankia , which is the one that will have to make the greatest efforts to achieve its viability.
The European bailout of Spanish banks will also mean a significant reduction in offices in the coming months, which will lead to growing financial exclusion, especially in rural areas. Sources close to Bankia , Catalunya Caixa and Novagalicia , consulted by ECD , confirm that they are already working on plans to reduce staff and offices, although they prefer not to talk about the number of branches that will have to be closed and the people who will be affected by the adjustment.They warn that if the Tax Agency has overcharged in withholding , it will return that amount in the personal income tax return, but will omit that it has had that liquidity in cash, at no cost and financed by the taxpayer, since the Treasury does not pay late payment interest. for retaining more . A controversial measure This tax measure was already born with controversy.
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