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メキシコのロスカボスで開かれた世界経済主要20カ国会議で、スペイン政府に銀行救済をいつ、どのように要求するのか,はやく言うように要求, ラホイ大統領は、銀行救済の融資を、国家負債にしないように、欧州金融安定基金からの直接融資にして欲しい
El G-20 urge a España a aclarar el rescate
La UE plantea dar más plazo para la ayuda a la banca, que se podría pedir en breve
Rajoy reabre el debate al solicitar que el crédito se desvincule de la deuda
The G-20 urges Spain to clarify the rescue
The EU sets deadline for giving more aid to banks, which could be requested shortly
Rajoy has reopened the debate by asking that credit be separate debt
Carlos E. Cue / Alejandro Bolaños (POSTED SPECIAL) Los Cabos 19 JUN 2012 - 22:34 CET
The EU sets deadline for giving more aid to banks, which could be requested shortly
Rajoy has reopened the debate by asking that credit be separate debt
Carlos E. Cue / Alejandro Bolaños (POSTED SPECIAL) Los Cabos 19 JUN 2012 - 22:34 CET
Despite attempts to prevent it from Mariano Rajoy, Spain and the situation of its banks have been players in the G-20. At a meeting monopolized by global concerns deal with the situation in the euro zone, the leaders of the world's most powerful countries to Spain demanded "clarity" on the details of the rescue in the midst of an enormous pressure on Spanish debt. Everyone wants to know when to ask Spain these funds and especially how. And so it was told to Rajoy, as German Chancellor Angela Merkel.
The Spanish government, which avoids comment on this aspect of the global pressure and neither confirms nor denies the German version, says it is primarily interested in clarifying the terms of the bailout, arguing that most likely will ask this week, after who on Thursday made public the figure, as the two auditors hired by the Bank of Spain, banks need to recapitalize. In any case, the executive explained that the conditions are being negotiated and nothing is closed, not even the date on which to ask.
more informationThe eurozone vetoes the direct recapitalization of distressed banksRajoy, afternoon and uncomfortableThe IMF started the firewall 456,000 million for counter-crisisThe G-20 seeks a unified message for growthMerkel contradicts Rajoy on support: "There clearly has been asked to Spain"The G-20 cautioned that Spain may not meet the deficit and debt targets
Merkel, increasingly distanced from Mariano Rajoy, used a meeting with the press to put more pressure on his theoretical ally. He said it is necessary for Spain to ask and that rescue, and said Rajoy himself was committed to it in the G-20. Until the Chancellor spoke, the Spanish government claimed that no one had spoken in the G-20 specifically in Spain. "There has been talk in the G-20 is now very important to have clarity, quickly, how will be the Spanish request for help," said Merkel.
The Spanish government decided not to advance the evaluators' reports on the state of banking, which has reached the G-20 without clarifying the rescue. The announcement of the aid of up to 100,000 million euros, Rajoy sold as a great success despite the fact that Spanish debt increased to 90%, far to stop the harassment of markets has intensified. Given this evidence, the president has turned 180 degrees to your message. Rajoy presents now, and said in the plenary of the G-20, you have to "break the link between bank risk and sovereign risk, which has proved extremely harmful." Rajoy says it has been harmful the rescue 10 days ago considered a great success of the euro and Spain. "I have been me who has pushed," he said then.
The Spanish government says that Rajoy is now posing a direct injection of money to banks from bailout fund. That is out, will be through the FROB. However, it seems clear that, at this time, there are many points in the air. Spain wants to renegotiate issues, and counts with the support of the European Commission is also aware that the agreed formula is not working in the markets.
Breaking the link between debt recovery and
The European Commission President Jose Manuel Durao Barroso, was the first to admit, this Monday, we had to break the link between public debt and bank debt. That idea is so entrenched that even be in the conclusions of the G-20, and therefore backed by Germany. Does that mean that Germany accepts that Spain does not have to support, with its sovereign debt, the recapitalization of their banks? Not appear to Merkel and other Nordic countries are willing to accept that.
Barroso discussed the need to address the issue in the debate that the Commission wants to open on bank union in autumn. But we had to find formulas and debase the negative perception in the case of aid to Spanish banks. They pointed EU sources Tuesday in Los Cabos is not concerned that the aid will be supported by the Spanish debt. "It is computed as public debt or yes," said a senior official of the Commission.
The banking bailout "is counted as public debt or yes," said a senior official of the Commission
Among the formulas that drive the Commission is that of maintaining maximum credit period to prevent investors believe that Spain may have trouble refinancing debt in the short term. And Brussels wants to keep the discussion on which fund to use: If the storm, which has no priority creditor status, or permanent, which will take effect from July, and they do have that condition. For private investors the second option is worse, since relegated to the recovery order if Spain was not able to return sometime in the entire debt. A perception has been installed in the markets, although the Spanish government introduced a constitutional amendment that gives priority to the payment of this debt, a shield with little precedent in European law.
European sources pointed out that many of the Eurogroup countries are committed to the permanent rescue fund. And they are reluctant to extend the period to 30 years, as pretenede the government, reports Claudi Perez.
The perception that the rescue of the Spanish banks are not having the expected results of the talks has starred in some of the G-20, to the point that the purpose of taking measures to ensure the sustainability of debt costs slipped into the final communiqué of the summit.
"We must find a more effective way to intervene," cried the French president, François Hollande. European sources indicated that the Italian prime minister, Mario Monti, according to Financial Times, launched the idea that the bailout fund to buy government debt of peripheral countries. Merkel said in the plenary, but his words in the halls gave rise to the interpretation that it was reconsidering its initial rejection of this option, as noted by The Guardian. An expectation that German officials lowered to ensure Reuters shortly after the matter "was not addressed in the G-20".
The Spanish government, which avoids comment on this aspect of the global pressure and neither confirms nor denies the German version, says it is primarily interested in clarifying the terms of the bailout, arguing that most likely will ask this week, after who on Thursday made public the figure, as the two auditors hired by the Bank of Spain, banks need to recapitalize. In any case, the executive explained that the conditions are being negotiated and nothing is closed, not even the date on which to ask.
more informationThe eurozone vetoes the direct recapitalization of distressed banksRajoy, afternoon and uncomfortableThe IMF started the firewall 456,000 million for counter-crisisThe G-20 seeks a unified message for growthMerkel contradicts Rajoy on support: "There clearly has been asked to Spain"The G-20 cautioned that Spain may not meet the deficit and debt targets
Merkel, increasingly distanced from Mariano Rajoy, used a meeting with the press to put more pressure on his theoretical ally. He said it is necessary for Spain to ask and that rescue, and said Rajoy himself was committed to it in the G-20. Until the Chancellor spoke, the Spanish government claimed that no one had spoken in the G-20 specifically in Spain. "There has been talk in the G-20 is now very important to have clarity, quickly, how will be the Spanish request for help," said Merkel.
The Spanish government decided not to advance the evaluators' reports on the state of banking, which has reached the G-20 without clarifying the rescue. The announcement of the aid of up to 100,000 million euros, Rajoy sold as a great success despite the fact that Spanish debt increased to 90%, far to stop the harassment of markets has intensified. Given this evidence, the president has turned 180 degrees to your message. Rajoy presents now, and said in the plenary of the G-20, you have to "break the link between bank risk and sovereign risk, which has proved extremely harmful." Rajoy says it has been harmful the rescue 10 days ago considered a great success of the euro and Spain. "I have been me who has pushed," he said then.
The Spanish government says that Rajoy is now posing a direct injection of money to banks from bailout fund. That is out, will be through the FROB. However, it seems clear that, at this time, there are many points in the air. Spain wants to renegotiate issues, and counts with the support of the European Commission is also aware that the agreed formula is not working in the markets.
Breaking the link between debt recovery and
The European Commission President Jose Manuel Durao Barroso, was the first to admit, this Monday, we had to break the link between public debt and bank debt. That idea is so entrenched that even be in the conclusions of the G-20, and therefore backed by Germany. Does that mean that Germany accepts that Spain does not have to support, with its sovereign debt, the recapitalization of their banks? Not appear to Merkel and other Nordic countries are willing to accept that.
Barroso discussed the need to address the issue in the debate that the Commission wants to open on bank union in autumn. But we had to find formulas and debase the negative perception in the case of aid to Spanish banks. They pointed EU sources Tuesday in Los Cabos is not concerned that the aid will be supported by the Spanish debt. "It is computed as public debt or yes," said a senior official of the Commission.
The banking bailout "is counted as public debt or yes," said a senior official of the Commission
Among the formulas that drive the Commission is that of maintaining maximum credit period to prevent investors believe that Spain may have trouble refinancing debt in the short term. And Brussels wants to keep the discussion on which fund to use: If the storm, which has no priority creditor status, or permanent, which will take effect from July, and they do have that condition. For private investors the second option is worse, since relegated to the recovery order if Spain was not able to return sometime in the entire debt. A perception has been installed in the markets, although the Spanish government introduced a constitutional amendment that gives priority to the payment of this debt, a shield with little precedent in European law.
European sources pointed out that many of the Eurogroup countries are committed to the permanent rescue fund. And they are reluctant to extend the period to 30 years, as pretenede the government, reports Claudi Perez.
The perception that the rescue of the Spanish banks are not having the expected results of the talks has starred in some of the G-20, to the point that the purpose of taking measures to ensure the sustainability of debt costs slipped into the final communiqué of the summit.
"We must find a more effective way to intervene," cried the French president, François Hollande. European sources indicated that the Italian prime minister, Mario Monti, according to Financial Times, launched the idea that the bailout fund to buy government debt of peripheral countries. Merkel said in the plenary, but his words in the halls gave rise to the interpretation that it was reconsidering its initial rejection of this option, as noted by The Guardian. An expectation that German officials lowered to ensure Reuters shortly after the matter "was not addressed in the G-20".
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