Guindos says that the possible takeover bid for Sabadell must be authorized by the ECB due to the principle of solvency

MADRID, 9 May. (EUROPA PRESS) -

The vice president of the European Central Bank (ECB), Luis de Guindos, has stressed that a possible acquisition of Banco Sabadell by BBVA would have to be authorized by the institution, which always addresses these issues on the basis of the principle of solvency and prudence, while that competition issues do not correspond to the banking supervisor of the euro zone.

"The ECB has to authorize the operation," said Guindos upon his arrival at a lunch-debate organized in Madrid by the Civic Panel Association, where he stressed the need to "be absolutely prudent."

"We do not know if the operation is going to materialize, it will depend on the shareholders," recalled the former Spanish Minister of Economy.

In this sense, the vice president of the ECB has warned that the banking supervisor always has to authorize this type of operations "and always does so based on the principle of solvency and the prudential principle", since what the institution seeks is stability. of the euro zone financial system.

On the other hand, regarding other dimensions, such as Competition, Guindos has pointed out that this corresponds to the Competition authorities.