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CRISIS MERCADOS
Un miembro del BCE dice que el fondo de rescate europeo debería ser un banco
MARKET CRISIS
A member of the ECB said that the European rescue fund should be a bank
Economy Madrid EFE 25 JUL 2012 - 13:48 CET
A member of the ECB said that the European rescue fund should be a bank
Economy Madrid EFE 25 JUL 2012 - 13:48 CET
In an interview with Bloomberg picked up by Reuters, Dow Jones, Nowotny, who is governor of Austria's central bank, explained that the proposed fund should be given permanent rescue the euro area banking license, although he said it is aware of being carried out specific discussions at this time.
If the bank receives a license MEDE, above, get access to credit of the ECB, which, in turn, would increase its capacity and dispel the doubts about whether the 500,000 million euros will be enough if countries like Spain or Italy need help.
So far, analysts believed that the only way for Spain to avoid the recovery and lower their financing costs in the market was the immediate intervention of the ECB by purchasing Spanish sovereign debt.
The body takes 19 weeks without buying sovereign debt, and its chairman, Mario Draghi, has been repeatedly against the resumption of purchases and alleviate the pressures on countries like Spain or Italy.
However, Nowotny said, the debate is not limited to the realm of monetary policy, which considers that "this is part of a broader discussion", which declined to give further details.
The member of the central bank added that the deadline expired July for the launch of MEDE is a "weakness to be overcome."
In his opinion, the ECB should wait to see how it develops the Spanish banking sector bailout before acting.
Although Nowotny has also ensured that the ECB plans to buy more short-term debt, the effect of his words in the European sovereign debt market was withering, as confirmed by the head of the table Savings Corporation debt, Javier Ferrer, who does not hesitate Nowotny attributed to the relaxation of the risk premium in Spain.
After closing yesterday at a maximum of 638 basis points, the spread between ten-year Spanish bond and the German the same period surged to almost 650 today, after the Spanish bond yield for the first time reached 7.748%.
The words of Nowotny managed the Spanish bond yields fell to 7.52% and the risk premium to 623 basis points.
If the bank receives a license MEDE, above, get access to credit of the ECB, which, in turn, would increase its capacity and dispel the doubts about whether the 500,000 million euros will be enough if countries like Spain or Italy need help.
So far, analysts believed that the only way for Spain to avoid the recovery and lower their financing costs in the market was the immediate intervention of the ECB by purchasing Spanish sovereign debt.
The body takes 19 weeks without buying sovereign debt, and its chairman, Mario Draghi, has been repeatedly against the resumption of purchases and alleviate the pressures on countries like Spain or Italy.
However, Nowotny said, the debate is not limited to the realm of monetary policy, which considers that "this is part of a broader discussion", which declined to give further details.
The member of the central bank added that the deadline expired July for the launch of MEDE is a "weakness to be overcome."
In his opinion, the ECB should wait to see how it develops the Spanish banking sector bailout before acting.
Although Nowotny has also ensured that the ECB plans to buy more short-term debt, the effect of his words in the European sovereign debt market was withering, as confirmed by the head of the table Savings Corporation debt, Javier Ferrer, who does not hesitate Nowotny attributed to the relaxation of the risk premium in Spain.
After closing yesterday at a maximum of 638 basis points, the spread between ten-year Spanish bond and the German the same period surged to almost 650 today, after the Spanish bond yield for the first time reached 7.748%.
The words of Nowotny managed the Spanish bond yields fell to 7.52% and the risk premium to 623 basis points.
市場危機
ECBのメンバーは、欧州救済基金が銀行であるべきであると述べた
経済マドリッドEFE25 JUL 2012 - 13:48 CET
ECBのメンバーは、欧州救済基金が銀行であるべきであると述べた
経済マドリッドEFE25 JUL 2012 - 13:48 CET
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