In the discussion of savings banks, one only hears the noise of political parties about their use for political control. However, this week, the General Assemblies of the Four Coffers of the Basque Country will begin. The first one will be held on the 11th, the BBK, the most important of all. Each Fund needs not only to explain the results of the financial year 2010 affected by the crisis, but also to explain some of its operations and, above all, to clarify its doubts with regard to the future.

It is necessary that the technical managers tell us if they favor cold fusion (BBK + Vital) or hot fusion (BBK + Vital + Caja) in the UAE. The merging of the three boxes with the CAN of Navarre would be the most logical and natural, since they are all located in the same territorial context. However, CAN is united with other boxes, and the possible and desirable merger of CAN with the rest of the Basque boxes does not seem to find support at present. CAN is conditioned mainly by the problems and interests generated by territorial policy.

It is necessary that these technical managers, from the national and economic point of view of the country, tell us what are the best options in terms of financial technique. BBK will have to explain why it has joined the Andalusian box, Cajasur, when it suffers heavy losses. In this way, it has reduced its solvency, since its core capital has gone from 16.8%, the highest in Spain, to 10.35%. The CAN will have to explain why it has skipped the possibility of merging with boxes in the Basque Country, betting on boxes outside the Basque Country. The four savings banks will have to clarify what will happen with Social Actions: will they be privatized? Will they be reduced?