BBVA sit-in ends peacefully

Around 300 protesters who camped out inside BBVA headquarters in Granada city centre last night in protest at the government's bank bailout scheme for banks and real estate companies, have now left the building after local MP Antonio Cruz agreed to a meeting at 9am this morning.

Among other demands, protest organisers are calling for two billion euros to be set aside out of next year's budget to guarantee "at least four months basic wages" for those most directly affected by the current economic crisis.

Bank and real estate firm stormed in bailout protest
By: thinkSPAIN
Thursday, November 20, 2008

Around three hundred members of the Andalucía Workers Union (SAT), including United Left (IU) MP, Juan Manuel Sánchez Gordillo, occupied BBVA offices and the headquarters of the Osuna property firm in Granada city centre yesterday lunchtime in protest at the government's bank bailout scheme.

Speaking inside the BBVA building, where some protesters camped out overnight, Mr Sánchez said that "now that the myth of the free market has fallen," the government should nationalise the banking sector, and demanded a "more social and sustainable" approach to urban development.

Accusing the government of "robbing from the poor to give to the rich," Mr Sánchez said that it was a "political scandal" that it "has spent 150 billion euros rescuing the banks, another three billion on major construction and real estate firms, and that it is now time to save the poor and weak who are being made to suffer the consequences of the crisis."

Among SAT's demands is that when "rural land is reclassified as buildable for this to be publicly owned and free from speculation, which would reduce the cost of building new homes by 62%."

They also argue that the government should set aside around €1.5 billion euros out of next year's budget to rescue bankrupt town councils, and vow to continue protesting until their demands are heard by "a valid regional or national governmnent representative."