Rato has just presented his resignation as president of Bankia, the day thathas transcended the Bank of Spain and the Government prepared a plan to reorganize the entity imminent.

“I decided to go decided to pass the baton to a new manager on the ground that is most suitable for this disease,” said Rato in a community in the which in turn proposes to Jose Ignacio Gorigolzarri-ex-CEO of BBVA as president BFAexecutive and Bankia.

Rato has taken this decision just as the pressure on the body has become unbearable. Thus, his titles have come on the stock market to fall about 5%after news that the Bank of Spain and the Government no longer take it anymore and have nearly completed a plan to clean up the balance of the entity, which carries a burden of 37,517 housing million.

Of the total amount of exposure to real estate and construction, had dubious10.564 million, 36.5% more than in 2010, while substandard were reduced by 18.6% to EUR 7.283 million

Thus, under the terms of this plan, Bankia receive public support for between 7,000 and 10,000 million euros through the Bank Restructuring Fund (FROB), an agency of the Bank of Spain, Europa Press reported financial sources.

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