MADRID, 20 Oct. (EUROPA PRESS) -

The Second Vice President of the Government and Minister of Labor and Social Economy, Yolanda Díaz, has considered the bank's proposal "insufficient" to help families whose variable mortgages rise by more than 30% due to the escalation of rates of interest.

"What the Spanish bank is defending right now is not enough, it is not enough, and I think it has to be at the level of its country and be aware that we can have very complicated situations. I ask them to go further," said the Vice President speaking to the press during her attendance at a conference organized by Judges for Democracy.

Díaz has described as "very unfortunate" the policy of the central banks to raise interest rates intensely by causing, once again, a transfer of income from families to financial institutions, "which are getting richer" thanks to it.

"It is impossible for Spanish families to pay a mortgage," stressed the vice president, who added that the rise in rates is also making the financing costs of companies more expensive, for which she has asked the bank to "advance more" in its proposals to alleviate the effects of the rise in rates on families and companies.

Díaz has defended that, given the current price crisis and the impact of the war in Ukraine on energy costs, it is necessary both to protect the productive fabric and to raise workers' wages.

In this sense, he has assured that the vice president of the European Central Bank (ECB), Luis de Guindos, has asked that salaries "raise 5%" to face the costs derived from inflation and avoid defaults on mortgages and loans.