The debt load threatens to overwhelm Spain, now takes Hol? President Rajoy, the euro partners accountable.Karen Millen Dresses
It needs a clear commitment to its Countries of Gemeinschaftsw currency, Rajoy said - and also brought the controversial € bonds back into the conversation ch?
Berlin / Madrid - Spain Hol president Mariano Rajoy, Europe has more support for the Euro-Krisenl asked Santander?. It needs a clear signal that the euro is not in danger, Rajoy said on Tuesday in Madrid before the Senate. He markets his best Karen Millen Dress calls for a "rapprochement" in the EU - and also brought a topic for discussion, at least in the German Federal Government to reject st t?.
In addition to a fiscal union with a common Aufsichtsbeh?Karen Millen Dresses Rde of budgetary control, the EU needs a bank union with common bonds, said Rajoy. These so-called Euro-bonds disclaim other states in the currency for the Union from but, Karen Millen above all the German federal government.
Chancellor Angela Merkel's? He prefers it to information obtained by SPIEGEL, when the Spaniards aid from the bailout fund EFSF in claim n HMEn?. Thus, the bailout would indeed go to its limits - on the other hand, k nnte Madrid expected to be significantly cheaper to get money?. The SPD parliamentary leader Frank-Walter Steinmeier warned on Tuesday in Brussels, Spain k nne? Decide "to sp t" for assistance from the EFSF.
The chairman of the Economic Experts, Wolfgang Franz advised Spain to slip under the parachute. The banks in the country would be strongly supported quickly, Franz said in the ARD "evening news".
The banking industry is preparing to Spain gr? Th difficulties. With the real estate crisis, monetary concerns of the country are sitting on a huge mountain of bad loans. Finally, the state had to step in with billions in aid, as the savings bank Bankia went into a tailspin.
High interest rates for Spanish government bonds
However, Spain has refused to take money from the EFSF to complete. Because strict are the International W? Monetary Fund (IMF) and the remaining L? Santander linked to the euro zone. So far, the Spanish Government has therefore tried to get a home-made savings program, the financial problems under control. Under the crushing debt load that has been recently more and more difficult: In the past week had investors interest rates of 6.7 percent of Spain offering to refinance its debt.
On Thursday, Spain will take up the issue of long-term government bonds back up to two billion euros. The yield on zehnj? Hrige Spanish government bonds stood at around 6.5 percent on Tuesday. For comparison: Zehnj hrige German government bonds have recently traded at yields around 1.5 percent, papers came with a term of two years, even without interest payments.
The high funding costs are as big s pressure on the land. "The risk premium means, for Spain, the door is closed to the market," Finance Minister Cristobal Montoroa said on Tuesday the radio station Onda Cero.
A helper application to the euro crisis fund EFSF concluded, however, Montoro again. It seemed the least resistance to ckeln br? "? Such a scenario w re a setback, but it must not be exclusively en" said the last au enpolitische Group spokesman of the Popular Party (PP) in the parliament in Madrid.
According to a report in the "world" is now checked whether Spain m for may have auxiliary en precautionary measures? From the rescue in claim assume k? Nnte. This is an option, will discuss those here? it, relying on unnamed multiple sources. A precautionary credit line k? Nnte represent a compromise that the Spanish completely? Ndigen jump to the rescue saves. ? Similar reports, the Spanish government had already rejected on Tuesday.
IMF chief Christine Lagarde urged, however, an overall concept for Ratings? Ltigung the euro debt crisis. "The 'Master Plan', which is professed by all, is important because it creates a vision," Lagarde said on Tuesday. Sun arises a collective resolve. "And that is lacking at the moment." The managers in the euro zone would be on a comprehensive catalog of reason? COLUMNS some who will then be implemented over time should.
The timing for this may come later than three weeks in sp: At the EU summit in Brussels.