01.06 - Spain Today 11 October 2024

Spain Today news summary for October 11, 2024 This document summarizes the main topics and the most important facts presented in three news articles published by RTVE.es on October 11, 2024. 1. Possible delay in BBVA's takeover bid for Banco Sabadell The Minister of Economy, Carlos Cuerpo, estimates that BBVA's takeover bid for Banco Sabadell could be extended until the first quarter of 2025 if the National Commission for Markets and Competition (CNMC) decides to further analyze the operation. Cuerpo reiterates his "great concern about the impact on competition" that the merger would have, pointing out a possible "deterioration of the situation for consumers" in areas such as financial inclusion, territorial cohesion, SME financing and job preservation. The minister recalls that the Government has the final say in authorizing the operation and that, if they do not merge, both entities would continue to operate separately. Key quote: "My opinion is exactly the same, of great concern about the impact on competition and the possible deterioration of the situation for consumers" - Carlos Cuerpo. 2. Investigation of the Koldo case and the involvement of José Luis Ábalos A report by the UCO links the former Minister of Transport, José Luis Ábalos, to the alleged corruption plot in the purchase and sale of masks during the pandemic, highlighting his "relevant role". The report also reveals that Ábalos informed President Sánchez about the visit of the Venezuelan vice president, Delcy Rodríguez, despite the EU sanctions that prohibited her entry. The government assures that it will collaborate with justice and that there will be no impunity. Both Sánchez and other ministers have reiterated their commitment to the fight against corruption and have stated that "whoever has to pay, pays." Key quote: "There will be no impunity. Whoever does it, pays" - Pedro Sánchez. 3. Negotiations for the reduction of the working day The social dialogue table for the reduction of the working day has once again concluded without an agreement between the Ministry of Labour, the unions and the employers' association. The Ministry proposes bonuses for SMEs that create permanent jobs or increase the hours of the working day as a result of the reduction of the working day to 37.5 hours per week by 2025. The unions insist that the reduction of the working day must be by law and criticise the position of the employers' association, which they accuse of obstructing the agreement. The employers' association, for its part, considers that there has not been a real negotiation and argues that the reduction of the working day must be agreed in the collective agreements of the companies. Key quote: "It is important that the reduction be legal" - Mari Cruz Vicente, Secretary of Trade Union Action of CC.OO.