Professional Documents
Culture Documents
12 de mayo de 2013
La experiencia israelí
POR QUÉ KUTXABANK
NO PUEDE PRIVATIZARSE
The Israeli case Israelen eredua
WHY KUTXABANK ZERGATIK EZIN DAITEKE
CANNOT BE PRIVATIZED KUTXABANK PRIBATIZATU
As a Working Paper, it does not reflect any institutional position or opinion neither of EKAI Center,
nor of its sponsors or supporting entities.
EKAI Center seeks to do business with companies or governments covered in its reports. Readers should be aware that we may have a
conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making
their investment decision.
GARAIA INNOVATION CENTER, GOIRU 1,A2 MONDRAGON
TEL: 943250104 VITORIA-GASTEIZ 639641457
LEKEITIO 675701785 DURANGO 688819520
E-MAIL: info@ekaicenter.eu
facebook.com/EKAICentre scribd.com/EKAICenter
La experiencia israelí
POR QUÉ KUTXABANK
NO PUEDE PRIVATIZARSE
As a Working Paper, it does not reflect any institutional position or opinion neither of EKAI Center,
nor of its sponsors or supporting entities.
EKAI Center seeks to do business with companies or governments covered in its reports. Readers should be aware that we may have a
conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making
their investment decision.
GARAIA INNOVATION CENTER, GOIRU 1,A2 MONDRAGON
TEL: 943250104 VITORIA-GASTEIZ 639641457
LEKEITIO 675701785 DURANGO 688819520
E-MAIL: info@ekaicenter.eu
facebook.com/EKAICentre scribd.com/EKAICenter
La experiencia israelí
POR QUÉ KUTXABANK
NO PUEDE PRIVATIZARSE
HAARETZ
By Ari Shavit, Sep. 08, 2011
“Israel's new oligarchy "La nueva oligarquía de Israel
castrated the government, castró el gobierno, evisceró la
eviscerated politics and turned política y convirtió en títeres a
heads of state into puppets. los jefes de estado.
…Benjamin Netanyahu made the worst economic ... Benjamin Netanyahu cometió el peor error
mistake of his life on October 26, 1997. That was económico de su vida el 26 de octubre de 1997. Ese fue
the day Prime Minister Netanyahu sold a bank to el día en que el primer ministro Netanyahu vendió un
shipping magnate Ted Arison - Bank Hapoalim. The banco al magnate naviero Ted Arison – el Banco
State of Israel received a hefty $1.37 billion; but the Hapoalim. El Estado de Israel recibió sus buenos $ 1.37
price the state paid for this sale turned out to far mil millones; pero el precio que el Estado pagó por esta
exceed this sum. Power over the bank that controls venta resultó superar con creces esa cantidad. El poder
the state was turned over to a small group sobre el banco que controla el Estado se entregó a un
dominated by one family, establishing in Israel a pequeño grupo dominado por una familia,
new socioeconomic order. An oligarchic regime. estableciendo en Israel un nuevo orden
socioeconómico. Un régimen oligárquico.
… Bank Hapoalim was … different. It was, and
remains, Israel's financial giant. Thus, Netanyahu ... El Banco Hapoalim era ... diferente. Fue, y sigue
made a historic blunder by not reducing the giant's siendo, el gigante financiero de Israel. De esta forma,
dimensions before it was privatized. Netanyahu cometió un error histórico al no reducir las
dimensiones del gigante antes de que fuera
Transferring the monstrous entity from the state's privatizado.
control to a family institutionalized the
circumstance of duopoly that prevails in two-thirds La transferencia de la gigantesca entidad del control
of Israel's banking sector. It made permanent a estatal a una familia institucionalizó la situación de
situation in which there is no genuine competition duopolio que impera en las dos terceras partes del
between banks. It calcified a situation in which the sector bancario de Israel. Convirtió en permanente una
banks erode households through strangling interest situación en la que no existe una verdadera
rates for wage earners and cheap credit for tycoons. competencia entre los bancos. Calcificó una situación
en la que los bancos erosionan los hogares a través de
The Netanyahu-Arison deal took power over the estrangular las tasas de interés para los asalariados y a
economy out of the hands of the state and delivered través del crédito barato para los magnates.
it to a cartel of capitalists. This was the pinnacle of
oligarchic privatization; the process created a bank El acuerdo Netanyahu-Arison arrebató el poder sobre
oligarchy here and an oligarchic elite who nourish la economía de las manos del Estado y lo entregó a un
one another. Free market capitalism did not replace cártel de capitalistas. Este fue el pináculo de la
the old Israeli socialist state. Instead, a new system privatización oligárquica; el proceso creó una
of consolidated power, featuring bankers and oligarquía bancaria y una élite oligárquica que se
oligarchs, capitalists and media moguls, took shape. nutren mutuamente. El antiguo estado socialista israelí
As a Working Paper, it does not reflect any institutional position or opinion neither of EKAI Center,
nor of its sponsors or supporting entities.
EKAI Center seeks to do business with companies or governments covered in its reports. Readers should be aware that we may have a
conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making
their investment decision.
GARAIA INNOVATION CENTER, GOIRU 1,A2 MONDRAGON
TEL: 943250104 VITORIA-GASTEIZ 639641457
LEKEITIO 675701785 DURANGO 688819520
E-MAIL: info@ekaicenter.eu
facebook.com/EKAICentre scribd.com/EKAICenter
La experiencia israelí
POR QUÉ KUTXABANK
NO PUEDE PRIVATIZARSE
As a Working Paper, it does not reflect any institutional position or opinion neither of EKAI Center,
nor of its sponsors or supporting entities.
EKAI Center seeks to do business with companies or governments covered in its reports. Readers should be aware that we may have a
conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making
their investment decision.
GARAIA INNOVATION CENTER, GOIRU 1,A2 MONDRAGON
TEL: 943250104 VITORIA-GASTEIZ 639641457
LEKEITIO 675701785 DURANGO 688819520
E-MAIL: info@ekaicenter.eu
facebook.com/EKAICentre scribd.com/EKAICenter
La experiencia israelí
POR QUÉ KUTXABANK
NO PUEDE PRIVATIZARSE
As a Working Paper, it does not reflect any institutional position or opinion neither of EKAI Center,
nor of its sponsors or supporting entities.
EKAI Center seeks to do business with companies or governments covered in its reports. Readers should be aware that we may have a
conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making
their investment decision.
GARAIA INNOVATION CENTER, GOIRU 1,A2 MONDRAGON
TEL: 943250104 VITORIA-GASTEIZ 639641457
LEKEITIO 675701785 DURANGO 688819520
E-MAIL: info@ekaicenter.eu
facebook.com/EKAICentre scribd.com/EKAICenter