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The Catalan Finance Minister affirms that the savings bank reform will not affect their social work

Andreu Mas-Colell, the Catalan Minister for Economy, reflected on the issue at a ceremony, where savings bank La Caixa and Catalan universities were giving away up to new 20 grants for research projects. The objective is to prevent a possible brain drain in Catalonia. Mas-Colell said that once the sector reforms were accomplished, the financial entities would get more freedom.

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21 February 2011 10:41 PM

by

ACN / María Belmez

Barcelona (ACN).- The reform of the savings bank sector will not harm the social work that these particular financial entities have been carrying out for decades. This statement was made by the microeconomics professor Andreu Mas-Colell, who is the Catalan Minister for Economy and Knowledge, also in charge of universities. Mas-Colell made this statement at the ceremony in which the savings bank La Caixa and the Catalan Association of Public Universities gave 20 grants for research projects. In fact, Mas-Colell said that, once all the sector changes will be made, the financial entities\u2019 social work would be even strengthened. \u201CI want to tell you that you should not worry, the deep streams go in the direction of the social work\u201D, he stated. According to Mas-Colell, once the current savings banks are transformed into regular banks, the issuing social works \u201Cwill not compete to re-invest\u201D into financial institutions and thus they will have \u201Cgreater degrees of freedom\u201D. Therefore, once the adjustment will be digested, the social work could even be increased.


Mas-Colell made this statement at an event at the CosmoCaixa, where La Caixa and the Association of Catalan Public Universities gave 20 grants to research projects to avoid a brain drain during the current crisis. The Catalan Minister thanked the support of the private sector now that the public institutions are \u201Cobject of more limitations\u201D. Through the RecerCaixa programme, the Catalan savings bank funded 20 projects with a total of 1.4 million euros. A total of 461 projects applied to receive this grant but only 20 were awarded. It is the first year of this project, which aims at fostering research and avoids the need to go abroad looking for funding or research opportunities. Most of the awarded projects are on social sciences, but there are also on life sciences. For instance, one deals with factors leading to child obesity.

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  • Andreu Mas-Colell at the ceremony to award the grants by La Caixa's social work (by M. Belmez)

  • Andreu Mas-Colell at the ceremony to award the grants by La Caixa's social work (by M. Belmez)