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欧州中央銀行の無策がスペインを破綻に追い込む
Guindos niega el rescate y pide actuar contra la “irracionalidad” de los mercados
El ministro cree que la solución a la crisis requiere actuaciones "más allá de los gobiernos"
"No tenemos ni el tiempo ni la financiación" necesarias para reducir el endeudamiento
Sobre la falta de transparencia afirma que "si vas a dar el sablazo", es mejor ser discreto
Guindos denies the rescue and urges action against the "irrationality" of markets
The minister believes that the solution to the crisis requires action "beyond the governments'
"We have neither the time nor the funding" necessary to reduce debt
On the lack of transparency states that "if you give the saber" is better to be discreet
Carcar Madrid Santiago 23 JUL 2012 - 19:35 CET
The minister believes that the solution to the crisis requires action "beyond the governments'
"We have neither the time nor the funding" necessary to reduce debt
On the lack of transparency states that "if you give the saber" is better to be discreet
Carcar Madrid Santiago 23 JUL 2012 - 19:35 CET
The economy is creative destruction. The sentence, the economist Joseph Alois Schumpeter, has put forward this lune in Congress, Economy Minister Luis de Guindos, to defend the creation, will be operational in November-the so-called bad bank or Asset Management Company who will take over impaired assets from banks. But the truth is that the sentence fit like a glove on a dark day for the Spanish economy.
Cherry trees, which appeared before the Committee of Finance to explain the loan terms of up to 100,000 million agreed with the Eurogroup, had to leave to pass expectations darkest just inside the Congress. Can you rule out the rescue of Spain? They asked. "Of course," replied the minister. And immediately afterwards blamed the sharp rise in the risk premium to the "situation of enormous uncertainty" approach that leads to "irrational" and situations of "extreme nervousness" that can only be overcome with performances that go "beyond the Governments ".
Although the allusion to the European Central Bank was clear, at any time Guindos mentioned it directly. Spain, clinched before getting down to the deputies, "has done everything he had to do" reforms addressing "important" and cleaning up the financial system.
more informationThe minister travels to Germany to meet with SchäubleThe risk premium touches record highsBrussels stressed the "clear link" between the loan and the reforms requiredAlmunia urged to ask the rescue fund to buy debt
Already before the Commission, Guindos left for the Journal of the House session why he considers that Spain will join the club rescued the EU-Greece, Ireland and Portugal, despite persistent pressure from the markets. He explained that Spain is "a country solvent" because the solvency "is measured by the ability of medium-term growth, and Spain, which is a competitive country, can grow." "So it will not be saved" clinched. But the country that registered a significant improvement in the external sector through exports and tourism, needs "time and funding," said the minister. That is also purchased. How? With sacrifices derived from a process of deleveraging - "painful", he admitted to be accelerating to pass "as soon as possible," said Minister of Economy.
A fundamental part of that process is the consolidation of the banking system with the loan agreed with the Eurogroup ward putting the Spanish banking system. That loan, detailed Guindos, has been achieved under favorable conditions and serve to "clean hit most of the mistakes of the past." For the first tranche of EUR 30,000 million will be available later this month, the interest rate variable, will be around 1.5%, with a grace period of 10 years, during which only interest will be paid and a repayment period of 15 years. Be summed up at the hearing, three times less expensive than average supposed to feed the Bank Restructuring Fund (FROB).
Explanations of Guindos, in an atmosphere of concern, but without fanfare or excessive stress, not convinced the main opposition party, the PSOE. His spokesman, Valeriano Gomez explained that his party will not support the memorandum of understanding (MOU, as its acronym in English) with the Eurogroup agreed to bail out the banks because it is not clear, among other things, the treatment given to the actions preferred and the transfer of private debt to public sector.
The PSOE, like other groups (CIU), questions the opacity with which it has negotiated aid to the bench. At this point, Guindos took two steps toward explaining colloquial phrase came out as unequivocal as fraught with controversy, "If you give the saber" he said, should not publicly disclose the reasons. "Be careful with the cards you have and how the show" he said.
In the complex game in which you move the entire economy, there are some things that are clear. For example, there are financial products, such as preferred stock, has become an inflammatory topic to hurt savers who were briefed numerous dubious about what they got. That will change from August.
The regulation of the preferred will harden said Guindos: they require that a significant proportion of the issue is placed in the wholesale channel, will test the suitability for investors, which do not pass, you must explicitly recognize that it is aware that buys a product for which there is suitable and will impose a high minimum subscription. There will be a record that sets the ratio of securities purchased by these investors are not suitable, which will facilitate the supervision of the CNMV. It is, one might conclude, to prevent the collapse of capitalism can reach, even for its success. As the economist Schumpeter predicted.
Cherry trees, which appeared before the Committee of Finance to explain the loan terms of up to 100,000 million agreed with the Eurogroup, had to leave to pass expectations darkest just inside the Congress. Can you rule out the rescue of Spain? They asked. "Of course," replied the minister. And immediately afterwards blamed the sharp rise in the risk premium to the "situation of enormous uncertainty" approach that leads to "irrational" and situations of "extreme nervousness" that can only be overcome with performances that go "beyond the Governments ".
Although the allusion to the European Central Bank was clear, at any time Guindos mentioned it directly. Spain, clinched before getting down to the deputies, "has done everything he had to do" reforms addressing "important" and cleaning up the financial system.
more informationThe minister travels to Germany to meet with SchäubleThe risk premium touches record highsBrussels stressed the "clear link" between the loan and the reforms requiredAlmunia urged to ask the rescue fund to buy debt
Already before the Commission, Guindos left for the Journal of the House session why he considers that Spain will join the club rescued the EU-Greece, Ireland and Portugal, despite persistent pressure from the markets. He explained that Spain is "a country solvent" because the solvency "is measured by the ability of medium-term growth, and Spain, which is a competitive country, can grow." "So it will not be saved" clinched. But the country that registered a significant improvement in the external sector through exports and tourism, needs "time and funding," said the minister. That is also purchased. How? With sacrifices derived from a process of deleveraging - "painful", he admitted to be accelerating to pass "as soon as possible," said Minister of Economy.
A fundamental part of that process is the consolidation of the banking system with the loan agreed with the Eurogroup ward putting the Spanish banking system. That loan, detailed Guindos, has been achieved under favorable conditions and serve to "clean hit most of the mistakes of the past." For the first tranche of EUR 30,000 million will be available later this month, the interest rate variable, will be around 1.5%, with a grace period of 10 years, during which only interest will be paid and a repayment period of 15 years. Be summed up at the hearing, three times less expensive than average supposed to feed the Bank Restructuring Fund (FROB).
Explanations of Guindos, in an atmosphere of concern, but without fanfare or excessive stress, not convinced the main opposition party, the PSOE. His spokesman, Valeriano Gomez explained that his party will not support the memorandum of understanding (MOU, as its acronym in English) with the Eurogroup agreed to bail out the banks because it is not clear, among other things, the treatment given to the actions preferred and the transfer of private debt to public sector.
The PSOE, like other groups (CIU), questions the opacity with which it has negotiated aid to the bench. At this point, Guindos took two steps toward explaining colloquial phrase came out as unequivocal as fraught with controversy, "If you give the saber" he said, should not publicly disclose the reasons. "Be careful with the cards you have and how the show" he said.
In the complex game in which you move the entire economy, there are some things that are clear. For example, there are financial products, such as preferred stock, has become an inflammatory topic to hurt savers who were briefed numerous dubious about what they got. That will change from August.
The regulation of the preferred will harden said Guindos: they require that a significant proportion of the issue is placed in the wholesale channel, will test the suitability for investors, which do not pass, you must explicitly recognize that it is aware that buys a product for which there is suitable and will impose a high minimum subscription. There will be a record that sets the ratio of securities purchased by these investors are not suitable, which will facilitate the supervision of the CNMV. It is, one might conclude, to prevent the collapse of capitalism can reach, even for its success. As the economist Schumpeter predicted.
Guindosは救助を拒否し、市場の"非合理性"に対して行動を促す
大臣は危機の解決策は、政府を超えた行動"が必要と考えている"
借金を減らすために必要な"我々は時間も資金もいない"
"あなたはサーベルを与える場合は、"控えめであることが優れていることが透明状態の欠如に
Carcarマドリードサンティアゴ23 JUL 2012 - 午後七時35分CET
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