Spanish Central Bank History: Franco Era to European Union
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In 1936, the Republican Banco de España financed all the assistance received from Russia. 200 tons of gold were sent to France with the risk that General Franco’s troops would enter Madrid. A government decree ordered to transfer approximately 500 tons to Moscow. The directors of the Bank of Madrid transferred the gold reserves to Cartagena and then by sea to Moscow where they were used to defray the military assistance. These events were known for years as “the Moscow gold”.
1. The Banco de España during the Franco Regime (1939-1975)
After the war, the government set about the difficult task of restoring the country economically. The Banco de España and the financial system as a whole, should be subjected to its guidelines to bring... Continue reading "Spanish Central Bank History: Franco Era to European Union" »