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National Bank of Spain reported that a "bad bank" for the construction of huge bad loans in banks in the country is considering the purchase, is the European Union and the possibility of a rescue package from the International Monetary Fund Fund.The movement day Portugal 78000000000 European Union and International Monetary Fund after sharp € asked for a ransom.will be forced. However, it is to blame and try to seek more capital from the private sector have failed. In March, the Bank of Spain, to eight cases that were not enough to attract private investors.
But now it appears that CAM, Civic Banking, Bank talks with mare nostrum, and possibly others. Agency's creation, "good" Spanish, bank restructuring fund, banks and long-term loans from the bank to ask for help from the alleged sale. But get this money this.Ultimately, Irish working class living standards was the bad loans have fallen to the responsibility that comes after the question begs. Many jobs were lost, sending the unemployment rate rose to 14.7 percent, was too large and it has not been increased emigration of the country will be.
As Spain is part of the euro currency union, Katsoras and Fournier, the British against the euro appreciated 25 percent in the last two years the pounds have not seen the first option suggested is impossible. Spain to devalue their currency to reduce its exports, the European Central Bank to print money (quantitative easing in the UK) can not make it or buy their bonds. When the crisis erupted in 2008, massive deficit spending by the Government of Spain, in 2009, 11.2 percent of GDP and with estimates of 9.24 percent last year to try to stimulate the economy.
High external debt (100 percent of GDP compared with 35 percent five years ago) is difficult to serve in international financial markets. At present, loans up to 10 years for Spain to 5.2 percent, a modest cost, Greece, Ireland, Portugal's share of 10.4 percent and 9.5 to 15.5 percent, but almost twice as high in Germany as in other countries such as the European Union. Higher borrowing costs are still in Spain, whose banks, central and regional governments to expensive 36 percent of public spending, the need for some 290,000,000,000 € € loan, including extensions to increase the 2011.To, folk, Transportation and Housing Minister had visited, a leading real estate is to convince investors to invest in "Spain remains an attractive destination," said Jose Blanco and Housing Minister Beatriz Corredor European capitals to try.
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