At this occasion, Mr. Fernando de Alcázar (Director of Economic Studies of Málaga’s Economists Association) and Ms. Paloma Moreno Marín (managing partner of Daniel Pastor y Asociados) have shared a desk at the “Cadena Cope Economists’ Cabinet” with the following guests: Mr. Daniel Pastor Vega, Ph.D., lawyer, economist, auditor and President of the Chair in Business Viability and the Business Leadership’s Hall, and Mr. Miguel Ruiz Montañez, Ph.D. economist, engineer, writer and Manager of the Malagueña Transport Company.
 

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The European Justice forces the Spanish banks to return all the money charged for the Floor Clauses
This morning, the ruling of the Court of Justice of the European Union has been declared. As ruled by the Supreme Court, the new ruling states that banks are required to return the amounts collected by the so-called floor clause, with retroactivity from the beginning of the mortgage’s signing and not just since the 9th of May, 2013.
 

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The Supreme Court has to submit to the dictation of the Court of Justice’s Judgement of the European Union and the mandatory application of the state regulations’ provisions. More specifically in the Civil Code, in respect to the effects of the floor clause’s nullity.
 
Thus, it has been recently condemned a financial institution, BBVA, to return the amount charged for one of these clauses, considered abusive throughout the loan’s life.
 

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