El Estado afronta el rebrote de las dudas con fondos suficientes hasta el verano
España debe devolver en abril 28.000 millones en el que será el segundo peor mes del año
スペインは、2012年04月には、280億1000万0000ユーロの債務の返済をしなければいけない
The State faces the resurgence of doubt sufficient funds until the summer
Spain should return 28,000 million in April in what will be the second worst month of the year
Alvaro Romero Madrid 10 ABR 2012 - 00:10 CET
Spain should return 28,000 million in April in what will be the second worst month of the year
Alvaro Romero Madrid 10 ABR 2012 - 00:10 CET
The Spanish State has enough cash on hand to pay all maturities that are pending between now and summer, according to Treasury data. Specifically: 58 600 million from the surplus for debt issued since January and payments (28,100 million) and the remaining had at the end of 2011 in the account of the Bank of Spain (30,500 million) deal to allow some margin the increasing market turbulence triggered by rising doubts about Spain.
Proof of this, the premium required to Spanish debt against the German reference for its stability, is at its highest in the legislature. Today, after remaining closed markets yesterday by Easter, this spread, known as risk premium, has continued to rise. In the Exchange, the Dow is also in red, which deepens their annual minimum. Against this background, little has influenced the minds of investors to the announcement by the Government that provides additional cuts 10,000 million in Education and Health, the area has the largest share of expenditure and, until now, had not suffered the scissors with the strength expected by markets.
"I am encouraged that the Prime Minister (Mariano Rajoy) considers that there is some way to go," valued Jose Luis Martinez Campuzano, a strategist at Citigroup Spain. "What the market is asking for are measured, and short-term enough," he added.
Like him, a majority of analysts cautioned that it was a mistake to think that the ECB liquidity support to banks, which was watered with a billion euros in easy credit and which ended ultimately lead to a better public debt Spain or Italy, announcing the end of the crisis. Now, "are going to set foot on earth," said Luca Jellinek, Crédit Agricole, which provides a second quarter worse.
Thanks to the ECB and stimulated demand to local banks, the Treasury chained a roll until last week when issue settled for less than expected. Also for the first time in recent months, the central bank, which must return to the market three more times in the remainder of the month, had to raise yields. To worsen the outlook, foreigners are moderating their investment in Spanish debt and reduced its exposure by 19,000 million between January and February.
Spain faces in April the second month of the year with longer maturities 23,894,000, while the payments referred to June totaled 40,380 million. Immediately after the next test will exercise special, with 17.851 million in July. The worst month of the year, however, will be in October, when it should return 26006800. In total, 140,000 million which must be added 28.848 million in interest that have made this game in the most important budgets behind pensions.
Proof of this, the premium required to Spanish debt against the German reference for its stability, is at its highest in the legislature. Today, after remaining closed markets yesterday by Easter, this spread, known as risk premium, has continued to rise. In the Exchange, the Dow is also in red, which deepens their annual minimum. Against this background, little has influenced the minds of investors to the announcement by the Government that provides additional cuts 10,000 million in Education and Health, the area has the largest share of expenditure and, until now, had not suffered the scissors with the strength expected by markets.
"I am encouraged that the Prime Minister (Mariano Rajoy) considers that there is some way to go," valued Jose Luis Martinez Campuzano, a strategist at Citigroup Spain. "What the market is asking for are measured, and short-term enough," he added.
Like him, a majority of analysts cautioned that it was a mistake to think that the ECB liquidity support to banks, which was watered with a billion euros in easy credit and which ended ultimately lead to a better public debt Spain or Italy, announcing the end of the crisis. Now, "are going to set foot on earth," said Luca Jellinek, Crédit Agricole, which provides a second quarter worse.
Thanks to the ECB and stimulated demand to local banks, the Treasury chained a roll until last week when issue settled for less than expected. Also for the first time in recent months, the central bank, which must return to the market three more times in the remainder of the month, had to raise yields. To worsen the outlook, foreigners are moderating their investment in Spanish debt and reduced its exposure by 19,000 million between January and February.
Spain faces in April the second month of the year with longer maturities 23,894,000, while the payments referred to June totaled 40,380 million. Immediately after the next test will exercise special, with 17.851 million in July. The worst month of the year, however, will be in October, when it should return 26006800. In total, 140,000 million which must be added 28.848 million in interest that have made this game in the most important budgets behind pensions.
夏までには、債務を返済する金があるが、それからは、たぶん、ギリシアと同じように、破産するだろう??
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