Anatomy of a crisis. How mismanagement and political interference changed everyone's lives and led to the bailout.

Aristóbulo de Juan, Francisco Uría and Íñigo de Barrón

On 30 October 2013, the Rafael del Pino Foundation organised the dialogue "Anatomy of a crisis. How mismanagement and political interference changed everyone's lives and led to the financial rescue" on the occasion of the publication of the book of the same title by Aristóbulo de Juan, Íñigo de Barrón and Francisco Uría, published by Deusto.

The authors of the book held a dialogue on the current crisis led by César Molinas, in which they discussed its causes and, above all, its repercussions on the Spanish financial system, especially the savings banks.

The authors pooled their knowledge to explain why part of the Spanish financial system, instead of being the Spanish economy's lifeline, has become, even today and after the investment of billions of euros, an obstacle to recovery.

Aristóbulo de Juan has devoted fifty years of his life to banking, thirty-five of which were spent analysing banking crises in thirty different countries and the reforms needed to correct them. He was Director General of Supervision at the Bank of Spain and played an important role in the resolution of the Spanish crisis of the 1980s and in the modernisation of the banking supervision model. Subsequently, he was Financial Advisor to the World Bank in Washington for financial reform in developing countries. He currently runs an advisory firm specialising in problem banks and banking crises. He has lectured at Oxford, Harvard, Yale and Wharton Universities, as well as at the US Federal Reserve, the Bank of England and the Central Bank of China.

Francisco Uría is a State Lawyer on leave of absence and currently partner in charge of the financial sector at KPMG. He is a recognised specialist in financial regulation, particularly banking regulation, and has held very relevant positions both in the State Administration, where he became Undersecretary of the Ministry of Finance, and in the Spanish Banking Association, where he was head of legal advice and Deputy Secretary General.

Íñigo de Barrón is a specialist in financial information with more than 25 years of experience in different media such as Deia, Europa Press, Actualidad Económica and Expansión. Since 2001 he has worked for the newspaper El País as Financial Correspondent, where he has covered with rigour and analysis the crisis that has demolished a large part of the Spanish banking system. In 2003 he received the First ING Financial Journalism Award for the best professional career and, in 2009, the Schroders Award for the best economic article on the crisis. He is the author of El hundimiento de la banca, published by Catarata.

The Rafael del Pino Foundation is not responsible for the comments, opinions or statements made by the people who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their sole responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio González, are the result of the debates held at the meeting held for this purpose at the Foundation and are the responsibility of the authors.

The Rafael del Pino Foundation is not responsible for any comments, opinions or statements made by third parties. In this respect, the FRP is not obliged to monitor the views expressed by such third parties who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their own responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio J. González, are the result of the discussions that took place during the conference organised for this purpose at the Foundation and are the sole responsibility of its authors.

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