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スペインのバレンシア地方政府は、破産寸前のために、国の地方政府流動資金救済基金からの融資を頼む、
La Comunidad Valenciana pide la adhesión al fondo de rescate autonómico
El Gobierno valenciano se niega a precisar la cuantía de la ayuda solicitada y las contrapartidas
Una autonomía asfixiada por la falta de financiación de los mercados desde hace un año
The Valencia demand adherence to regional rescue fund
The Valencian Government refused to specify the amount of assistance requested and counterparts
A self-stifled by the lack of market financing for a year
Joaquin Valencia Ferrandis 20 JUL 2012 - 17:08 CET
The Valencian Government refused to specify the amount of assistance requested and counterparts
A self-stifled by the lack of market financing for a year
Joaquin Valencia Ferrandis 20 JUL 2012 - 17:08 CET
Adherence to the Liquidity Fund by the Autonomous Community of Valencia is the recognition of impotence. The impotence of the executive who heads the popular Alberto Fabra rein runaway accounts which have a long time. The Joy of major events policy and easy money of the housing bubble finally have ended up becoming a nightmare, now puts the Valencia the edge of the intervention.
Alberto Fabra inherited now just a year ago the last Cabinet appointed by Francisco Camps before resigning and being judged by the case of suits donated by the plot Gürtel. And what hidden folders Camps left in the office of the Palau de la Generalitat unveiled soon. The brightness of the great events and extraordinary income of an economy based on the construction sector was over. And with it, the end of the financial system Valencian-Bankia with Bancaja, Banco de Valencia and the CAM part; numerous corruption scandals, and a Valencian Administration on the brink financially.
In fact, Valencia was one of the hardest hit by the closure of financial markets in the last year. Since last December had to ask for help from central government to deal with a maturity of a loan of 123 million euros from Deutsche Bank, the Generalitat Valenciana has become the first autonomy that has received all funds provided by Mariano Rajoy of the executive to prevent regions from falling into a state of technical bankruptcy.
The lack of liquidity to meet credit of Deutsche Bank in December, declining to renew the loan, forced the Government to bring forward part of the planned transfers for the first quarter of this year. Following this, all the alarms were fired at the Ministry of Finance, who had to devise a line of credit with which to cover the maturities of loans to those who could not cope with autonomy.
more informationTreasury initiated the "Health Check" of the accounts of autonomy admonishedThe reduction of income left to the autonomous state of precariousness (published last Wednesday)Environment in the Government Emergencysmothered by debt, used to the new rescue fund created by the executive "Montoro will have its 'black men'
The Consell, chaired by Alberto Fabra, was one of the first Executive autonomic qualify this plan and in January asked 1,022 million euros at the Official Credit Institute (ICO) to meet deadlines. An amount that soon proved that the Government insuficiente.Tanto even offered interest rates of 7% to place a bond issue of 500 million euros to six months to foreign institutional investors. A rate higher than that paid rescued countries like Greece and Portugal.
With the markets closed, the public debt of the Generalitat Valenciana to junk bond level, by major rating agencies, the directors of Finance, Jose Manuel Vela, and Economics, Max Buch, they were forced to seek an extension to the Government of the line opened by the Government and asked for another 1,678 million euros to relieve pressure from the banks.
To release the ball from the outstanding debts to suppliers accumulated in regional governments, the Government also refereed a special plan last April. And the Valencia again demonstrate the extent of its liquidity problems. The Valencia submitted invoices in the amount of 4,069 million euros, of which 1,850 million included unbudgeted expenditure on health. In total, 23.6% of the asked the Government for all the Spanish regions, and almost twice as Andalusia.
This second plan, arbitrated last spring, was greeted with optimism by the Executive Alberto Fabra, that was released and unpaid bills for more than two years. However, the Generalitat Valenciana, as has always said the Minister of Finance, the hispanobonos needed to normalize their situation, as he still has outstanding debt owed to the municipalities of Valencia and grants to groups that receive grants or payments services through agreements.
The refusal of the Ministry of Finance has to opt for the path of hispanobonos and instead of them, putting an Autonomous Liquidity Fund (FLA) has put Valencia in the disparadero, will accept the additional conditions imposed by the Government after submitting a hard cut plan that includes the privatization of all non-management public health care and a plan for restructuring the public sector which provides for the dismissal of thousands of workers before the end of the year. Only on Radio Television Valenciana has performed an ERE affects 76% of staff and 1,295 workers.
The Valencian Community is, for years, most indebted autonomy in relative terms 20.5% of GDP and the second in absolute terms after Catalonia. Today, Valencia has become the first autonomous rescue requesting the Government. The Consell has launched today the request to formally approve its accession to the Autonomous Liquidity Fund (SSF) provided by the government for autonomy to meet its financial commitments in the absence of market liquidity.
This was communicated vice president and spokesman Consell Jose Ciscar, following the weekly meeting of the government headed by Alberto Fabra. Ciscar did not specify the amount, although in the last week has been speculation that speak to 3,000 million euros, although it is recognized that the amount requested to the Ministry of Finance will be to deal with outstanding payments, and the invoice pharmaceutical, as well as loans coming due.
After the press conference Consell Jose Ciscar said in a tweet: "The Valencian Community has had no rescue. It hosts a funding mechanism which will be attended more regions in the coming days, without further adjustments."
The finance minister, Cristobal Montoro, has denied initially this afternoon. "I do not know where it comes from that," he said. A few minutes later, acknowledged that it is the application to join the approved liquidity mechanism to facilitate the autonomous communities and funding "will require new conditions" to Valencia.
The Government insists that it is not a bailout because it maintains its autonomy over economic decisions of the administration of Valencia, though he admits that the Ministry of Finance asked the fulfillment of the conditions provided for in this fund membership. In a later note, insists that, given "false information published today" in some media, the Valencia "has not asked any ransom."
The executive Valencia, adds the note, "laments the interest of some sectors of society by constantly disparaging the Valencia, still working to further reduce the deficit and thus contribute to Spain to fulfill its objective."
The decision to join the Autonomous Liquidity Fund is prior to the Valencia can be rescued by the government which, in turn, increase supervision over the accounts of the Government and is expected to force the Consell to adopt new sacrifices.
Ciscar has admitted that the Valencian Government will have to report monthly to the Ministry of Finance of its financial operations. The Minister of Finance, Jose Manuel Vela, has not appeared after the meeting of Consell and has been the spokesperson for the one who has been subjected to questions.
Císcar has said that accession does not mean "further adjustments in 2012" and explained that what is planned is "strict compliance" stability plan approved by the Valencian Government last April, and guaranteed not to exceed limit of 1.5 percent of the deficit.
The Council of Ministers set up last July 13 this fund, with an amount of 18,000 million euros and it is a temporary mechanism and voluntary to those eligible autonomy requiring liquidity or additional quantities to finance its debt.
Alberto Fabra inherited now just a year ago the last Cabinet appointed by Francisco Camps before resigning and being judged by the case of suits donated by the plot Gürtel. And what hidden folders Camps left in the office of the Palau de la Generalitat unveiled soon. The brightness of the great events and extraordinary income of an economy based on the construction sector was over. And with it, the end of the financial system Valencian-Bankia with Bancaja, Banco de Valencia and the CAM part; numerous corruption scandals, and a Valencian Administration on the brink financially.
In fact, Valencia was one of the hardest hit by the closure of financial markets in the last year. Since last December had to ask for help from central government to deal with a maturity of a loan of 123 million euros from Deutsche Bank, the Generalitat Valenciana has become the first autonomy that has received all funds provided by Mariano Rajoy of the executive to prevent regions from falling into a state of technical bankruptcy.
The lack of liquidity to meet credit of Deutsche Bank in December, declining to renew the loan, forced the Government to bring forward part of the planned transfers for the first quarter of this year. Following this, all the alarms were fired at the Ministry of Finance, who had to devise a line of credit with which to cover the maturities of loans to those who could not cope with autonomy.
more informationTreasury initiated the "Health Check" of the accounts of autonomy admonishedThe reduction of income left to the autonomous state of precariousness (published last Wednesday)Environment in the Government Emergencysmothered by debt, used to the new rescue fund created by the executive "Montoro will have its 'black men'
The Consell, chaired by Alberto Fabra, was one of the first Executive autonomic qualify this plan and in January asked 1,022 million euros at the Official Credit Institute (ICO) to meet deadlines. An amount that soon proved that the Government insuficiente.Tanto even offered interest rates of 7% to place a bond issue of 500 million euros to six months to foreign institutional investors. A rate higher than that paid rescued countries like Greece and Portugal.
With the markets closed, the public debt of the Generalitat Valenciana to junk bond level, by major rating agencies, the directors of Finance, Jose Manuel Vela, and Economics, Max Buch, they were forced to seek an extension to the Government of the line opened by the Government and asked for another 1,678 million euros to relieve pressure from the banks.
To release the ball from the outstanding debts to suppliers accumulated in regional governments, the Government also refereed a special plan last April. And the Valencia again demonstrate the extent of its liquidity problems. The Valencia submitted invoices in the amount of 4,069 million euros, of which 1,850 million included unbudgeted expenditure on health. In total, 23.6% of the asked the Government for all the Spanish regions, and almost twice as Andalusia.
This second plan, arbitrated last spring, was greeted with optimism by the Executive Alberto Fabra, that was released and unpaid bills for more than two years. However, the Generalitat Valenciana, as has always said the Minister of Finance, the hispanobonos needed to normalize their situation, as he still has outstanding debt owed to the municipalities of Valencia and grants to groups that receive grants or payments services through agreements.
The refusal of the Ministry of Finance has to opt for the path of hispanobonos and instead of them, putting an Autonomous Liquidity Fund (FLA) has put Valencia in the disparadero, will accept the additional conditions imposed by the Government after submitting a hard cut plan that includes the privatization of all non-management public health care and a plan for restructuring the public sector which provides for the dismissal of thousands of workers before the end of the year. Only on Radio Television Valenciana has performed an ERE affects 76% of staff and 1,295 workers.
The Valencian Community is, for years, most indebted autonomy in relative terms 20.5% of GDP and the second in absolute terms after Catalonia. Today, Valencia has become the first autonomous rescue requesting the Government. The Consell has launched today the request to formally approve its accession to the Autonomous Liquidity Fund (SSF) provided by the government for autonomy to meet its financial commitments in the absence of market liquidity.
This was communicated vice president and spokesman Consell Jose Ciscar, following the weekly meeting of the government headed by Alberto Fabra. Ciscar did not specify the amount, although in the last week has been speculation that speak to 3,000 million euros, although it is recognized that the amount requested to the Ministry of Finance will be to deal with outstanding payments, and the invoice pharmaceutical, as well as loans coming due.
After the press conference Consell Jose Ciscar said in a tweet: "The Valencian Community has had no rescue. It hosts a funding mechanism which will be attended more regions in the coming days, without further adjustments."
The finance minister, Cristobal Montoro, has denied initially this afternoon. "I do not know where it comes from that," he said. A few minutes later, acknowledged that it is the application to join the approved liquidity mechanism to facilitate the autonomous communities and funding "will require new conditions" to Valencia.
The Government insists that it is not a bailout because it maintains its autonomy over economic decisions of the administration of Valencia, though he admits that the Ministry of Finance asked the fulfillment of the conditions provided for in this fund membership. In a later note, insists that, given "false information published today" in some media, the Valencia "has not asked any ransom."
The executive Valencia, adds the note, "laments the interest of some sectors of society by constantly disparaging the Valencia, still working to further reduce the deficit and thus contribute to Spain to fulfill its objective."
The decision to join the Autonomous Liquidity Fund is prior to the Valencia can be rescued by the government which, in turn, increase supervision over the accounts of the Government and is expected to force the Consell to adopt new sacrifices.
Ciscar has admitted that the Valencian Government will have to report monthly to the Ministry of Finance of its financial operations. The Minister of Finance, Jose Manuel Vela, has not appeared after the meeting of Consell and has been the spokesperson for the one who has been subjected to questions.
Císcar has said that accession does not mean "further adjustments in 2012" and explained that what is planned is "strict compliance" stability plan approved by the Valencian Government last April, and guaranteed not to exceed limit of 1.5 percent of the deficit.
The Council of Ministers set up last July 13 this fund, with an amount of 18,000 million euros and it is a temporary mechanism and voluntary to those eligible autonomy requiring liquidity or additional quantities to finance its debt.
地域の救済基金にバレンシアの要求の遵守
バレンシア州政府は、要求された援助の量との対応を指定することを拒否
年間の市場の資金の不足によって自己窒息
ホアキンバレンシアFerrandis20 JUL 2012 - 午後05時08分CET
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