Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

BT Group plc : "It is a loan to the banks that will be repaid by the banks", says Mariano Rajoy

06/13/2012| 09:18am US/Eastern
Recommend:
0


During the Government Control Session, Mariano Rajoy explained that Spain is undertaking a reform of its financial sector that was tackled in other EU countries back in 2009 but with one difference: "what others did with their own public debt, we are going to do with help from the EU".

In response to the Member of the Lower House for Izquierda Plural, Juan Coscubiela, and the Member of the Lower House for the PSOE, Alfredo Pérez Rubalcaba, the President of the Government stressed that every country in the European Union has supported its banks. "The European Union spent one and a half trillion euros in 2009", he said, going on to add that "Spain does not have those one hundred billion euros and nor can it issue public debt. It could have in 2009, but seeing as we had the best financial system in the world we are lagging three years behind the rest".

For that reason, explained Mariano Rajoy, "the EU is going to lend us one hundred billion euros, which will be used by the banks up to a maximum and will have to be repaid when the time comes".

The President of the Government reiterated his satisfaction with the deal and insisted on the need for a commitment to Europe. In this regard, Mariano Rajoy said that he has sent a letter to Herman Van Rompuy and José Manuel Durao Barroso to be presented at the meeting "we will hold on the 22 June with the leaders of the major European countries in Rome", in which he commits to fiscal integration and banking integration. Mariano Rajoy believes that "this will only be resolved by doing one's own homework and with much more Europe and greater integration".

In response to a question asked by the Member of the Lower House for UPyD, Rosa Díez, the President of the Government stressed that "Spain has no problem of legitimacy or governability". The Government has performed a reliable diagnosis of the situation, has drawn up a plan, and what the Government needs to do now is govern, although it is willing to listen to any ideas that are put forward.

distributed by
Recommend :
0
Partner Area
React to this article
 
Latest news
Date Title
6m ago AMERICAN WATER WORKS COMPANY INC: Michigan American Water Increases Water Rates
7m ago CAPITAL BANK FINANCIAL CORP.: Capital Bank Names Christopher "Chris" McDougal Consumer Market Executive for East Tennessee
7m ago LIBERTY MINES INC.: Liberty Mines Obtains Bridge Financing and Appoints New CEO and CFO
8m ago CAYMAN ISLANDS MONETARY AUTHORITY: CIMA Promotes Gender Equality in the Workplace
10m ago FIRST NATIONAL BANK ALASKA: North Star Branch is a winner
11m ago XCEL ENERGY INC: New Xcel Energy generating plant a boost for Tucumcari
13m ago NY STATE TO PRIVATIZE LONG ISLAND UTILITY, FREEZE RATES: Governor Cuomo
13m ago MAG SILVER CORP: MAG Silver Reports Voting Results From its Annual General and Special Meeting
14m ago WAGEWORKS INC: U.S. Market Cap Guidelines Updated and Several Constituent Changes Announced for the S&P SmallCap 600
14m agoDJSANDRIDGE ENERGY INC.: SandRidge CEO Ousted Following Probe
Latest news
Advertisement
Hot News 
KERING: Share buy_back programme
ORCHARD SUPPLY HARDWARE STORES CORP: Orchard Supply Hardware Statement Regarding Its Equity Securities during Chapter 11 Bankruptcy Proceedings
INTERCEPT PHARMACEUTICALS INC: Intercept Pharmaceuticals Announces Pricing of Public Offering of Common Stock
TETRA TECH, INC.: Law Firm of Wohl & Fruchter LLP Announces Investigation of Tetra Tech Inc.
CARDIONET INC: RDInvesting Provides Investors with Free In-Depth Equity Reports on BEAT, MNKD, NOK and XRX
Most Read News
58m ago MICRON TECHNOLOGY, INC.: Micron Technology, Inc., Reports Results for the Third Quarter of Fiscal 2013
6m ago AMERICAN WATER WORKS COMPANY INC: Michigan American Water Increases Water Rates
10m ago FIRST NATIONAL BANK ALASKA: North Star Branch is a winner
6m ago CAPITAL BANK FINANCIAL CORP.: Capital Bank Names Christopher "Chris" McDougal Consumer Market Executive for East Tennessee
15m ago 3D SYSTEMS CORPORATION: 3D Systems Brings Latest 3D Content-to-Print Solutions To China’s DMC
Most recommended articles
10h ago Global shares firm, dollar steady before Fed decision
2d ago CLINUVEL PHARMACEUTICALS LIMITED: Letter from the CEO, June 2013
2d ago ULTRASIS PLC: Major 'regulatory' success for Ultrasis US joint venture
6m ago AMERICAN WATER WORKS COMPANY INC: Michigan American Water Increases Water Rates
7m ago LIBERTY MINES INC.: Liberty Mines Obtains Bridge Financing and Appoints New CEO and CFO
Dynamic quotes  
ON
| OFF
Copyright © 2013 Surperformance. All rights reserved.