Protests broke out in front of the Central Bank of Spain in reaction to the repeated abuse by banks and the fraud at the heart of the financial system. At the core of the protests is the Bankia case. In 2011, 347.000small investors bought Bankia shares for pension investment purposes. When about a year later a capital increase obliterated the value of those shares held by these small investors, legal undertakings against those responsible, including the Central Bank of Spain, started.
The Spanish EuroFinUse member, ADICAE, is the initiator of the ‘Toque La Banca’ campaign, encouraging citizens, consumers and all victims of banks and corporate monopolies to stand up against abuses and fraud stemming from the financial industry and institutions.
On that same day a meeting was held at the Central Bank of Spain on the future and relevance of EU Central Banks which was also attended by several shareholder associations and members of EuroFinUse who had also gathered in Madrid to attend the Annual Meeting of the World Federation of Investors. One of them is another Spanish EuroFinUse member , AEMEC , which is also fighting for the rights of the abused Bankia shareholders: its law firm brought a legal action against the Central Bank, because of fraud against small shareholders, for which Spanish State Bank Bankia is also held responsible.