Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

Bankia protestors use disruption tactics

Thursday, May 09, 2013 - 01:40

May 9 - A year after Spain's government announced the nationalisation of Bankia, citizens used social media to organise various disruptive actions prompting the temporary closure of at least 20 branches.

▲ Hide Transcript

View Transcript

A protest with a difference. Demonstrators used social media to coordinate action at branches of Spain's Bankia bank. Their aim - to cause as much disruption as possible inside as well as outside. At least 20 branches were temporarily shut and activists disrupted services at others. Among their tactics - queuing to deposit 1 cent into numerous charity accounts and asking the bank to change one euro. (SOUNDBITE) (Spanish) CLAUDIA, PROTESTER, SAYING: "Bankia evicts people, it cheats, all you have to do is look at its record, it's a disaster. It's received money from the government, but we have to pay its debt, it's leaving more people on the streets, especially in Madrid." It's a year since the banking group was nationalised. And Spaniards are still angry about the 19 billion euro bailout it received to shore up its losses. (SOUNDBITE) (Spanish) JULIAN OLIVARES, PROTESTER, SAYING: "I have an account here I haven't used in a long time with two euros and came to close it but I couldn't get in. I wasn't going to go in there and scream but that's what I feel like doing." Anger has intensified since Spain's government began imposing harsh austerity measures. Much of the ill feeling is directed at Bankia, after thousands of small savers saw their shares wiped out in less than a year. The bank is being investigated over allegations of fraud. Its former chairman Rodrigo Rato and 32 other board members are suspected of price-fixing and falsifying accounts. But so far no formal charges have been brought.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Bankia protestors use disruption tactics

Thursday, May 09, 2013 - 01:40