The EC proposes to reduce to 3.5% the rate applied by the EFSF to Ireland and Portugal, now at 6.5% and 5.5% respectively, and Madrid’s financial City welcomes the idea. For Banco Santander, “The European Commission yesterday proposed reducing to 3.5% the interest rate charged by the EFSF to Ireland (currently over 6.5%) and Portugal (5.5%), and extend the debt maturities to 30 years. This proposal is the result of…
The EC proposes to reduce to 3.5% the rate applied by the EFSF to Ireland and Portugal, now at 6.5% and 5.5% respectively, and Madrid’s financial City welcomes the idea. For Banco Santander, “The European Commission yesterday proposed reducing to 3.5% the interest rate charged by the EFSF to Ireland (currently over 6.5%) and Portugal (5.5%), and extend the debt maturities to 30 years. This proposal is the result of…
Bankinter analysts, in Madrid | This week is to be decisive for Greece. The technical team of the so-called troika of creditors (the IMF, European Union and European Central Bank) will return next Wednesday to Athens to see if the Greek government can clarify the figures it failed to make clear the previous week (this is why the troika left abruptly) and on Saturday, the euro group is meeting probably to…
Bankinter analysts, in Madrid | This week is to be decisive for Greece. The technical team of the so-called troika of creditors (the IMF, European Union and European Central Bank) will return next Wednesday to Athens to see if the Greek government can clarify the figures it failed to make clear the previous week (this is why the troika left abruptly) and on Saturday, the euro group is meeting probably to…
In a report that analyzed the fifty largest financial groups in Europe, the risk agency Standard & Poor’s (S&P) ranking highlights credit grades awarded to each of them. In the classification, the two Spanish giants BBVA and Santander appear in the top positions. El Economista informs that “They occupy third and fourth steps respectively, based on the quality of their rating.” Of course, both still face the threat of a downgrade if the…
In a report that analyzed the fifty largest financial groups in Europe, the risk agency Standard & Poor’s (S&P) ranking highlights credit grades awarded to each of them. In the classification, the two Spanish giants BBVA and Santander appear in the top positions. El Economista informs that “They occupy third and fourth steps respectively, based on the quality of their rating.” Of course, both still face the threat of a downgrade if the…
By Antonio Arroyo, in Madrid | All around the world, rivers of ink on the Rupert Murdoch affair continue to flow, but what most articles keep on ignoring is what may prove to be the hot potato of Mr Murdoch’s problems as the public opinion is not aware of the corporate network that allows the magnate to circumvent –legally, of course– the tax charge that would be due according to…
By Miguel Navascués, in Madrid | There has always been tension between the IMF and those countries under its analysis over the numbers in the fund’s economic forecasts. But this time the battle between the IMF’s Ms Lagarde and the European authorities has been set over valuations of sovereign bonds held by the banks. According to Lagarde, were the bonds in the European banks’ portfolios to be valued at their current market price……