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スペインの不良債権で破綻寸前の銀行を救済するための資本増強の直接融資は、2014年に?、損失の場合は、融資の保障はスペイン国家が責任を持つ
Europa enfría las expectativas de ayuda directa a la banca española
Habrá recapitalización directa, pero tardará en llegar y posiblemente no lo haga a tiempo
Alemania advierte de que el Estado tendrá que ser el garante de los fondos
Luis Doncel Bruselas6 JUL 2012 - 16:54 CET
Europe cools the expectations of direct aid to Spanish banks
Recapitalization will direct, but may be long in coming and not done on time
Germany warns that the state will have to be the guarantor of the funds
Luis Doncel Brussels 6 JUL 2012 - 16:54 CET
Recapitalization will direct, but may be long in coming and not done on time
Germany warns that the state will have to be the guarantor of the funds
Luis Doncel Brussels 6 JUL 2012 - 16:54 CET
The summit ended Thursday with a pleasant taste for Spanish interests: European leaders allow, once the European Central Bank (ECB) to take charge of financial supervision in the euro zone, the aid is given directly to the entities, bypassing the state, with the relief that that meant for the public finances. But three days of the meeting of finance ministers of the euro area to be examined by the draft memorandum to be signed by the Spanish Government, both from Brussels and from Berlin out messages to cool the euphoria of Madrid. There will be direct recapitalization, yes, but long in coming and may not do so in time for the Spanish case.
"I doubt that this variant will benefit the Spanish banks because before 2014 will not come," said a senior European official, who subsequently has clarified this calendar. "What I am extremely sure of is that the single banking supervisor will not be ready during the first half of 2013," he added.
The Spanish state will have to answer for any loss
These statements are in addition to various German government officials, which suggest that the Spanish state is the guarantor of aid to the bench, that "the State shall" and not directly to lenders. The German government spokesman Steffen Seibert also said the two European bailout funds (the FSF temporary and permanent stability mechanism, which has not yet entered into force) must follow the "guidelines" agreed in Brussels . "There are no shortcuts," added the spokesman for Chancellor Angela Merkel.
But bad news for Spain does not end there. Because, as noted by a senior European official, even when the ECB has taken charge of banking supervision and to allow direct recapitalization, the Spanish state will be answerable for any loss.
"The European Stability Mechanism (Mede) may purchase shares of a bank, but only with full guarantees of the state concerned," said the senior official, who explained that the purpose of this measure is to prevent the public debt triggered loan but not to the likelihood of the country to Mede. "Circle mystification whereby the fund may end up being the owner of Bankia, with all the risks on its balance sheet. That's not the case at all, "he concluded.
"I doubt that this variant will benefit the Spanish banks because before 2014 will not come," said a senior European official, who subsequently has clarified this calendar. "What I am extremely sure of is that the single banking supervisor will not be ready during the first half of 2013," he added.
The Spanish state will have to answer for any loss
These statements are in addition to various German government officials, which suggest that the Spanish state is the guarantor of aid to the bench, that "the State shall" and not directly to lenders. The German government spokesman Steffen Seibert also said the two European bailout funds (the FSF temporary and permanent stability mechanism, which has not yet entered into force) must follow the "guidelines" agreed in Brussels . "There are no shortcuts," added the spokesman for Chancellor Angela Merkel.
But bad news for Spain does not end there. Because, as noted by a senior European official, even when the ECB has taken charge of banking supervision and to allow direct recapitalization, the Spanish state will be answerable for any loss.
"The European Stability Mechanism (Mede) may purchase shares of a bank, but only with full guarantees of the state concerned," said the senior official, who explained that the purpose of this measure is to prevent the public debt triggered loan but not to the likelihood of the country to Mede. "Circle mystification whereby the fund may end up being the owner of Bankia, with all the risks on its balance sheet. That's not the case at all, "he concluded.
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