News

Subscribe Receive Corporate Watch News via e-mail:

About Us About Corporate Watch Support our work Contacts & Links

Corporate Watch
c/o Freedom Press
Angel Alley
84b Whitechapel High Street
London, E1 7QX
t: +44 (0)207 426 0005
e: contact[at]corporatewatch.org
 
Gaddafi cluster bombs financed by Spanish banks May 10, 2011

A new report titled Banca Limpia alleges that cluster bombs (MAT-120) manufactured in Spain in 2007 by the Spanish company Instalaza and used by Gaddafi to bomb Misrata were financed by the Spanish banks Cajalón, Caja España, Caja Mediterráneo, Bankinter, Ibercaja, Banco Popular, Banco Sabadell and La Caixa.

The 4th May 2011 saw the launch in Madrid of the campaign 'Banca Limpia: Clients, not Accomplicies' by the Setem Federation ethical finance group, which exposes the links between Spanish banks and arms companies which have been responsible for countless civilian deaths around the globe.

The Banca Limpia report alleges that Cluster bombs (MAT-120) manufactured in Spain in 2007 by the Spanish company Instalaza and used by Gaddafi to bomb Misrata were financed by the Spanish banks Cajalón, Caja España, Caja Mediterráneo, Bankinter, Ibercaja, Banco Popular, Banco Sabadell and La Caixa.

Further allegations are contained within a follow up report
entitled "Dirty Business: Spanish banks that finance controversial weapons. The report shows evidence that the 14 Spanish banks, among them BBVA, Santander and Bankia, invested, from 2006 to the present, almost 2 billion euros in 19 major manufacturers of arms. Among those highlighted are chemical and biological weapons, cluster bombs and anti-personnel mines.

The English version of the report, prepared by the Dutch research company Profundo can be found here. At bancalimpia.com it is possible to find out about the dodgy investments of your bank. Things you can do are: send a letter to the banks requesting the withdrawal of this support, share this information on social networks and financially support the campaign.

 
powered by the Webbler | tincan