2023-06-24 20:23:36
Every time Christine Lagarde, the president of the European Central Bank, opens her mouth, Juan starts to tremble, because he knows that his mortgage will go up in the next review. And not only him, but the thousands of Spaniards who have a mortgage referenced to the Euribor. However, Maria, a pensioner who has been saving for her retirement for years, does not receive any interest on the money she has deposited in her bank. She no longer even says good morning when she comes to her office to ask about her raise; if anything, they offer her an umbrella so that she can endure the downpour as best she can. And here is the paradox, if the price of money increases, mortgages immediately rise, but the same does not happen with the interest that savers receive. Isidro, a country man like the saint to whom he owes his name, can no longer even go to the branch in his town to complain about the commissions, since they closed it years ago to reduce costs. They earn more for the money they lend, pay less for customer deposits and also save costs with online banking. And they have not returned the money that was injected into them in the 2008 crisis, which we paid among all Spaniards. Without a doubt, the bank always wins.
#Gentlemen #bank #wins