{"id":37052,"date":"2009-02-02T00:00:00","date_gmt":"2009-02-01T23:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/te-interesa\/aeb-informa\/international-financial-crisis-we-said-yesterday-we-say-today\/"},"modified":"2026-04-09T09:54:07","modified_gmt":"2026-04-09T07:54:07","slug":"international-financial-crisis-we-said-yesterday-we-say-today","status":"publish","type":"blog-aeb","link":"https:\/\/aebanca.es\/en\/actualidad\/te-interesa\/aeb-informa\/international-financial-crisis-we-said-yesterday-we-say-today\/","title":{"rendered":"International Financial Crisis. We said yesterday… We say today…"},"content":{"rendered":"

The crisis has its roots, in essence, in the combination of two forms of conducting credit activity:<\/p>\n

\u2022 The granting of low-quality mortgages to borrowers with little or no creditworthiness, for subsequent sale.<\/p>\n

\u2022 The abusive use of securitization to develop the model of both practices were combined in an environment of excess liquidity, low real interest rates, search for higher returns by investors and Lax Regulation, to originate the current crisis<\/p>\n

Once the underlying causes of the crisis are known, several initial conclusions can be drawn:<\/p>\n

\u2022 The crisis was predictable and, in fact, was anticipated, both by the Authorities and by the banks themselves involved.<\/p>\n

\u2022 It is perfectly typical and even traditional in its ultimate foundations.<\/p>\n

\u2022 The crisis is foreign and unrelated to the Spanish banking model and its way of doing business.<\/p>\n

View the President’s full address<\/a><\/h6>\n","protected":false},"excerpt":{"rendered":"

The crisis was predictable, was typical and unrelated to the Spanish banking model. Today the banking sector is one of the main assets of the Spanish economy. The Spanish economy is bound to reduce: its overall debt level and its external financing needs. The banking sector is the instrument through which this objective will be achieved. <\/p>\n","protected":false},"featured_media":0,"parent":0,"template":"","etiquetas":[294,310,617,390],"categorias-blog":[783],"class_list":["post-37052","blog-aeb","type-blog-aeb","status-publish","hentry","etiquetas-banca-espanola","etiquetas-crisis","etiquetas-cuentas","etiquetas-macroeconomia","categorias-blog-presidency"],"yoast_head":"\nBlog AEB - Asociaci\u00f3n Espa\u00f1ola de Banca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aebanca.es\/en\/actualidad\/te-interesa\/aeb-informa\/international-financial-crisis-we-said-yesterday-we-say-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blog AEB - Asociaci\u00f3n Espa\u00f1ola de Banca\" \/>\n<meta property=\"og:description\" content=\"The crisis was predictable, was typical and unrelated to the Spanish banking model. 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