Thursday, 03 December 2020


A Analysis

Breaking the vicious links

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
The finance ministers of the EU countries could not agree last week to the general rules of working with problematic banks. And it already becomes a habit. Since many times the solution of key issues was dilated because of the eurozone leaders. As is known, in Germany, for example, there is your opinion about it, with the circumstance that there the barrier consists in the difficult process of decisions of European officials by German lawmakers. At the same time, the Spanish Kingdom is perhaps a situation better. First, as stated yesterday the Minister of employment and social security Fátima Báñez after his meeting with President Government Mariano Rajoy and Union leaders, Spain will receive 1, 5-2 billion euros from the EU to liquidate unemployment among youth and the total amount of financial assistance would reach 6 billion euros. Second, the leader of the European Confederation of Labor Union, Bernadette Segol, said yesterday that the Spanish called before the authorities to increase unemployment benefits to the minimum wage level and proposed to discuss the question given to pan-European level. From the point of view of Mrs. Segol, this discussion should be not only an "exchange of experience" but the Spanish contribution to a possible reorientation of the economy towards austere social policy at EU level. Third, the current stage of the work of the Finance Ministers of the EU, is viewed positively by the Minister of Economy of Spain. Luis de Guindos says: - It is a common success! Agreement was reached on the sum of the European Stability Mechanism, aimed at recapitalizing banks. Is a sum of around sixty billion. Moreover, this figure may be revised. It is quite possible that the Spanish need so large sum, consider our expert Ivan Rodionov: -Because the government of Spain plan to save 37.7 billion euros at the expense of administrative reform. This statement was made by the Deputy Prime Minister Soraya Saenz de Santamaria. Among the measures proposed is possible to highlight the rationalization of state management, reform of local self-administration and structural changes to ensure employment until 2015. This year alone these measures will save more than 4.5 billion euros. This statement by the representative of the Cabinet is to the point, says Professor Rodionov. -Now, since early this year, no there is a crisis so hard, nor so rigid statements that were made last year. And the point is that people get used to the idea: "Yes. It is a crisis ... It's hard." In my view, the situation there is favorable. But, it can influence in this situation that at pan-European level cannot agree on the creation of a united banking system and formulate common principles of control, in particular on the full activity of the European Stability Mechanism? We asked at expert Rodionov. -The European Stability Mechanism is twofold action. First: to implement this mechanism Europe declared a policy, of fact calmed his "against agents" worldwide. The second: showed that it would deal with it and there are plans to solve the problem. And this is already of great importance. According to our expert, now not can postpone the EU training of a banking union, what would allow to break the " vicious links " of the critical  financial institutions and of the State, and to guarantee an active support to the economic growth in the countries of the zone of the only currency. [caption id="" align="alignnone" width="460"]Breaking the vicious links Foto: EPA[/caption] Source:
Author: ForexmanWebsite: http://www.asdforex.comEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.
ASDForex manager and professional trader since 2008. I am also manager where you can view the services that I give
Latest articles Author

Popular News


Lorem ipsum dolor sit amet, consectetur adipisicing elit.

Fans Page ASDForex