‘Andorragate’: Spain gambles hundreds of millions on operation Catalonia

The third largest Spanish daily newspaper ABC published an article on 10 December about the collapse of Banca Privada de Andorra (BPA) and referred to it as ‘Andorragate’. This is the first time a major Spanish publication uses the term ‘Andorragate’.

The publication writes about the processes and actions taken to close BPA in 2015, highlighting the para-police operation promoted by the Spanish government and the false information that was spread about the bank ahead of its liquidation. It also shares the losses shareholders experienced as a result of the closure.

Further, the key milestones of ‘Andorragate’ are highlighted in the piece. This includes details of BPA’s collapse in March 2015, the Banco Madrid lawsuit in January 2022 and Mariano Rajoy’s investigation in June 2022. The outlet acknowledges the complexity of the issue, while also underlining the potential abuses of power that caused ‘Andorragate’.