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欧州委員会の競争?首相の(Joaquin Almunia)氏は、スペインの不良債権で破綻寸前で資本増強の融資の救済を受けた銀行の一つは、破産させるだろうと発言、スペイン政府はこれを拒否
El Gobierno asegura que no tiene intención de liquidar ninguna entidad
Almunia asegura que el Gobierno piensa liquidar uno de los bancos nacionalizados
El comisario argumenta que a veces es mejor echar el cierre que pagar el rescate
Bruselas debe pronunciarse sobre la reestructuración de las tres entidades bajo control público
Reuters / El País Madrid13 JUN 2012 - 21:00 CET
The Government says it has no intention to liquidate any entity
Almunia said the government thinks settle one of the nationalized banks
The Commissioner argues that it is sometimes better to pay close down the rescue
Brussels to rule on the restructuring of the three entities under public control
Reuters / The Country Madrid 13 JUN 2012 - 21:00 CET
Almunia said the government thinks settle one of the nationalized banks
The Commissioner argues that it is sometimes better to pay close down the rescue
Brussels to rule on the restructuring of the three entities under public control
Reuters / The Country Madrid 13 JUN 2012 - 21:00 CET
The European Commissioner for Competition, Joaquin Almunia, said Wednesday that one of the three Spanish financial institutions that have ended in the hands of the state is "aimed at liquidation." During an interview with Reuters, Almunia has argued that closing banks or experiencing serious problems is better because it is cheaper to address rescue or restructuring it. The Ministry of Economy, however, has denied these claims. "Spain has no intention to liquidate any financial institution and reiterated that his goal is to reorganize, recapitalize and privatize that are under state care," said a spokesman.
Almunia was referring to the future of one of the three entities that are at auction, although the process has stalled due to a deterioration in the markets over the past weeks and the Government's decision to activate the rescue. That is, the Novagalicia nationalized Bank Catalunya Caixa and Banco de Valencia intervened. Spain is awaiting final approval from the European Commission for its restructuring. The Bankia nationalized also has yet to request formal approval for its recapitalization plan.
more informationAlmunia advanced that Spain will have to charge 8.5% to the bench for the helpBrussels confirms that the bank rescue will exacerbate the deficitThe FROB report serious irregularities in the Banco de Valencia
"If I'm not mistaken, one of the three, according to the intentions of the Spanish authorities is aimed toward a settlement so that it is a constant concern after the restructuring," said Almunia. "In each analysis of each financial institution always try to estimate the alternative cost of liquidation," he added before reiterating that "if the settlement costs are lower for taxpayers to the rescue and restructuring of an institution, we opted for an orderly liquidation of the state. "
In this vein, a source quoted by EP Community recalled that prompted Brussels to Spain closing the problematic entities whose failure does not destabilize the economy in exchange for the ransom of up to 100,000 million to recapitalize the sector. "We do not have to save all banks unless absolutely necessary," he assured the senior European official. "There are cases where entities have to liquidate," he added.
Feasibility plans for banks
Organizations that decide to ask for help must submit a restructuring plan to ensure its future viability without subsidies and limit distortions of competition. In addition, as reported yesterday Almunia himself, entities requesting public funds must pay interest of at least 8.5% (compared to between 3% and 4% who will pay Spain for European aid). The aim of this kind "almost prohibitive" is pushing banks to try to achieve maximum recapitalization through market mechanisms, with asset sales or mergers.
The EU wants to "avoid as much public money is used" so that "if there are entities that should fail, go bankrupt." Brussels believes could have players in the market, both domestic and international, interested in acquiring assets in the Spanish banking sector. While currently no operation can be considered risk free, "there may be promising investments" because the crisis will end and the Spanish financial system is "interesting" by its projection in other regions such as Latin America. "It may be of interest to investors who want long-term bet," said the sources.
Despite the position of Brussels, the Secretary of State for Economy, Fernando Jiménez Latorre, has ensured that its forecasts are not closing any bank. "Not a likely scenario," he assured before noting that the goal is to "very similar" to what has been done so far from the Bank Restructuring Fund (FROB). However, the fate that had also been nationalized or intervened Unnim CAM or CCM has been the solution into a larger entity.
Almunia was referring to the future of one of the three entities that are at auction, although the process has stalled due to a deterioration in the markets over the past weeks and the Government's decision to activate the rescue. That is, the Novagalicia nationalized Bank Catalunya Caixa and Banco de Valencia intervened. Spain is awaiting final approval from the European Commission for its restructuring. The Bankia nationalized also has yet to request formal approval for its recapitalization plan.
more informationAlmunia advanced that Spain will have to charge 8.5% to the bench for the helpBrussels confirms that the bank rescue will exacerbate the deficitThe FROB report serious irregularities in the Banco de Valencia
"If I'm not mistaken, one of the three, according to the intentions of the Spanish authorities is aimed toward a settlement so that it is a constant concern after the restructuring," said Almunia. "In each analysis of each financial institution always try to estimate the alternative cost of liquidation," he added before reiterating that "if the settlement costs are lower for taxpayers to the rescue and restructuring of an institution, we opted for an orderly liquidation of the state. "
In this vein, a source quoted by EP Community recalled that prompted Brussels to Spain closing the problematic entities whose failure does not destabilize the economy in exchange for the ransom of up to 100,000 million to recapitalize the sector. "We do not have to save all banks unless absolutely necessary," he assured the senior European official. "There are cases where entities have to liquidate," he added.
Feasibility plans for banks
Organizations that decide to ask for help must submit a restructuring plan to ensure its future viability without subsidies and limit distortions of competition. In addition, as reported yesterday Almunia himself, entities requesting public funds must pay interest of at least 8.5% (compared to between 3% and 4% who will pay Spain for European aid). The aim of this kind "almost prohibitive" is pushing banks to try to achieve maximum recapitalization through market mechanisms, with asset sales or mergers.
The EU wants to "avoid as much public money is used" so that "if there are entities that should fail, go bankrupt." Brussels believes could have players in the market, both domestic and international, interested in acquiring assets in the Spanish banking sector. While currently no operation can be considered risk free, "there may be promising investments" because the crisis will end and the Spanish financial system is "interesting" by its projection in other regions such as Latin America. "It may be of interest to investors who want long-term bet," said the sources.
Despite the position of Brussels, the Secretary of State for Economy, Fernando Jiménez Latorre, has ensured that its forecasts are not closing any bank. "Not a likely scenario," he assured before noting that the goal is to "very similar" to what has been done so far from the Bank Restructuring Fund (FROB). However, the fate that had also been nationalized or intervened Unnim CAM or CCM has been the solution into a larger entity.
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