Tuesday 5 October 2010
Some thoughts on the current economic situation. The role of “la Caixa” in the Spanish banking system
Speaker: Joan Maria Nin (President and CEO of La Caixa)
Introduction by Josep Manuel Barberá (Director of Patronat Catalunya Mon)
Chair: Prof. Paul Preston
Time: 11.30 h.
Place: LSE, Lincoln's Inn Fields, New Academic Building, Thai Theatre, LG.03
Some years after graduating from LSE with a master's degree in Law, Juan Maria Nin returned to the campus to share his thoughts on the macroeconomic crisis. As President and CEO of Spain's largest savings bank, La Caixa, he was well placed to comment on its role in combating economic issues in Spain.
La Caixa is doing its best to help with the social problems that Spain currently faces, spending 500 million euros per year on welfare projects such as affordable housing and social inclusion initiatives.
Joan Maria Nin's talk looked at the origins of the Spanish financial crisis, comparing it to other European countries and previous crises. He pointed out that Spain has never reneged on a debt and that the current problem stems from illiquidity due to lack of market confidence, rather than insolvency.
Prof. Preston and Joan Maria Nin
The audience listens to Nin's presentation