Calviño points out the "strength" of Spanish banks after the falls in shares in German banks

LOGROÑO, March 25 (EUROPA PRESS) -

The First Vice President and Minister for Economic Affairs and Digital Transformation, Nadia Calviño, today pointed to the "strength" of Spanish banks after the falls suffered by the shares of the German banks Deutsche Bank and Commerzbank.

At a press conference at the Government Palace in La Rioja, and asked by journalists about the impact that the situation of German banks could have in Spain, she considered that "we are in a moment of enormous uncertainty and volatility in international financial markets" .

He added that "the rapid rise in interest rates has led to, first of all, deflating the bubbles that existed in some markets, such as, for example, in the crypto field."

Also, he said, to "show the vulnerability, and fragility, of some banking models, as has happened in the United States, or of some of the banks in Europe."

In this sense, he has seen that "the authorities have reacted quickly, agilely and efficiently to avoid any contagion".

He pointed out that "the governor of the Bank of Spain has spoken loud and clear, confirming the strength of Spanish banks, which have solvency and liquidity positions that are even higher than other European banks".