Posts Tagged ‘Government’

The Government Spain needed to allay the distrust of markets in the Spanish banking sector, has decided to increase to 8% core capital (equity plus reserves) to be kept on their balance sheet entities, compared to 6% today.The Government’s financial vice president, Elena Salgado, said yesterday afternoon the new measures. “This is to restore market confidence and eliminate any doubts about the solidity of our bank.”

One of the most controversial decisions of the announced is that the Bank Restructuring Fund (FROB) may enter the capital of those institutions that do not meet the new criteria established credit. The financial vice president made an estimate of capital needs that have domestic financial institutions to meet the new standards. He estimates that the sector will need more than 20,000 million to reach 8% of core capital ratio. In September 2010, the average core capital ratio was 8.5%.

The big banks play very well with the new criteria for creditworthiness. Santander and BBVA 8.5% 8.2%, respectively. People, after the merger with Crédit Mutual, slashing 9.4%. In contrast, medium banks have more difficulties. Sabadell is at 7.8%, while Bankinter only 6.5% (6.76% at end-2010).

Another of the peculiarities of the new regulation, to be adopted by royal decree during the month of February, is that it imposes additional capital requirements to those more traditional boxes. According to Economy Minister explained, those non-listed financial groups (banks and credit unions) have no significant private investor and who have a dependency on wholesale funding markets over 20%, must have a ratio fall of core capital to be “in any case” more than 8%. Although Salgado declined to detail how much it would raise the bar for these entities, some sources suggest it could reach 10%.

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There is no failure on the day you get the mail distributing the wealth of Bill Gates, Africa trying to transfer millions of dollars because the government of a country have a problem with wealthy families (who are trying to provide an account number to complete the transaction), which shows that there are children with physical problems who need our financial support, we will fall a curse or sexual spiritual if not forward mail messages and thousands of other more but note that not all the little (or not) is a great example of productive sent me the program director of the entrepreneur in the URL.

In an email message we share is true (and for some pessimists) are very positive and hope that I would like to share with you the entrepreneurs, and to make it to the wisdom of spreading. The message reads as follows:

“Do not pretend that everything will change if we keep doing the same thing. This crisis is the greatest blessing that can happen to people and countries, because of the crisis to bring progress.

Creativity is born of anxiety as the day comes from a dark night. This is a crisis born of invention, discovery and key strategies. He is overcoming the crisis beyond itself without resolved.

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New breakthrough in the form of National Identity Document (DNI) issued by the Directorate General of Police (Home Office) is the document that endorsed, for more than 50 years, identity, personal information appears in it and nationality to their owners, such as countries that have long been used Spain.

Throughout his life, national identity has evolved to incorporate advances in technology available at that time, in order to increase both the scope and document security.

With the advent of the Information Society and Internet use is widely need to adjust the mechanism of accreditation of the personality with the new reality and have an effective instrument that transfers the digital world the same certainty with which we operate every day in the physical world and, basically, is:

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Apart from the urgent measures for job retention and protection of the unemployed that to date are pending parliamentary executive initiative, the Government still seems alien to the real problem that threatens, which is none other to overcome the lasting success guarantees a crisis are profoundly as we are living, in terms of unemployment and destruction of business network, we will still live over the coming half, if not years.

If we look at projects and bills which are currently being processed at the Congress of Deputies, we notice immediately how the legislative action is still far from the set of actions that can guide our country to overcome this crisis.

Suffice it to name it that are currently pending legislative initiatives: urgent action on telecommunications, the creation of the Civil Institute for Peace, measures to support businesses and the self, by the recovery of arrears, tax incentives savings in the economy, temporary suspension of the excise tax on certain means of transport, fiscal support to people with disabilities and older; tax incentives for the purchase of passenger cars and commercial vehicles, tax incentives and self-employed small and medium enterprises, measures to assist families to purchase a home.

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Experts anticipate an economic slowdown over the past two or three years into the future, with a decrease in activity growth to 3.1 percent in 2008, almost half the number is less than anticipated for this exercise. The report “Economic Consensus” in the third quarter of 2007, prepared by Pricewaterhouse Coopers from the panel of 346 experts and entrepreneurs, described as “very good situation” the economy is currently in Spain, but saw a decline, which would be “more or less pronounced depending on the situation internationally.”

Some analysts even expect the decline in productive activities “without the economic behavior in the European Union.” Warning that growing among experts about the evolution of an expanding economy in Europe such as Spain, while improving your attitude toward the United States.

Consensus indicates, in the context of rising interest rates, greater pessimism over the economic and financial situation of families in the rest of the year the expenditures stop “suddenly, and vice versa, maintaining a moderate optimism about the economic and financial situation of companies in this semester.

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Wage cuts for civil servants a necessary measure in 2010. The lowering of salaries of officials is the “star as crisis” has approved the government: A 5% drop in average salary, which will be greater for higher paid staff and lowest for the base. True that officials are to blame for the crisis, but no money to pay all, there are only two ways: either lower wages or fire officials. Not because it is considered fair or better, but because there is simply no alternative … Well, there is, the Greeks have taught us: we can not do anything in 2010, just wait … and then we need a cut of 15% in 2013.

Is it just the drop in salary of staff?

Well, honestly, I think so, officials say they do not deserve the lower pay, and better, that’s true, but the wage decreases have also occurred in the private sector (directly, or dismissals to new contracts + low, or just firing), and neither were to blame hard worker, so … well, the officials also deserve a privilege with respect to the hard worker, right? Because the only alternative to the drop in salary of staff (cost cutting) was higher taxes (increased revenue). Increases which would have had to eat too hard worker and whose status has deteriorated significantly by the crisis!

That is not a question of punishing the officials for vague, much less, a professor who spends his time lecturing to 25 students certainly has much less room for “shirking” that many private sector hard workers. It’s just that we can not maintain the level of current deficit, that would be the worst by far, and therefore need more revenue or less spending, what is commonly called “belt-tightening.” It is in this context that the question “Is it just the lower salaries of officials?” can be stated as “Is it fair that the entire burden of the crisis falls on workers in the private sector?”. It is very easy to reply that it is not just the drop in salary of staff (I also think that it is not), but if we think that someone should need to tighten their belts, it does not seem fair that now are officials who do.

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