Economics does not rule out selling advance Catalunya Banc and NCG
The Government shall include residence permits to foreigners who buy property in Entrepreneurship Act
FINANCIERA
Economía no descarta adelantar la venta de Catalunya Banc y NCG
El Gobierno incluirá los permisos de residencia a los extranjeros que compren vivienda en la Ley de Emprendedores
EP Madrid 21 MAY 2013 - 11:09 CET
FINANCIAL
Economics does not rule out selling advance Catalunya Banc and NCG
The Government shall include residence permits to foreigners who buy property in Entrepreneurship Act
Madrid EP 21 MAY 2013 - 11:09 CET
The Secretary of State for Economic and Business Support, Fernando Jiménez Latorre, said Tuesday that the government did not rule out selling advance Catalunya Banc and Bank Novagalicia if market conditions improve and more investor appetite. "It is not ruled out that, if you change the state of the markets, not wait for five years and before that disinvestment can be made," said Latorre in statements to the media after attending a breakfast organized by Executive Forum Spain. The Secretary of State also confirmed that the Government is considering granting residence permits to aliens who invest in Spain and those who purchase a residence.
The purpose of the sale of both companies nationalized by Latorre, is to recover as much as possible for taxpayers, so if the situation improves it is logical that the resale of these two entities. The Secretary of State has said that the important thing is "play time" in the best possible way to repay taxpayers contributions made, both through the FROB as special credit line to the Treasury must open to finance both entities.
Latorre Apparently, when "ideal", we must combine market appetite with the offers received, and coming, but now we must make the best management of the entities. In this regard, he highlighted the need for compliance with restructuring plans and that it is used "maximum" synergies to get the best deals for these two entities.
Regarding the granting of residency to foreigners who buy properties, a project that examines executive since November, Latorre not wanted to detail the extent and has only said that will go inside Entrepreneurs Act the government wants to approve an "imminent". "I can not say if it will be this week or next, but it will go fast," he said.
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