Despite the doubts around Arbeloa's appointment, Camacho says Real president Florentino Perez made the right decision to promote him from the Castilla set up.
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Camacho told Marca: "He's doing fantastically well.
"He's a man of the club, you can see he's a coach, and there's nothing to criticise."
On Real Madrid's controversial derby win against Atletico Madrid, Camacho also said: “That's in the past, the result stands. In football, sometimes things go your way and sometimes they go against you.”