Govt.: “Spain won’t need more public cash for nationalised banks”

In a live interview on national radio Cadena Ser on Tuesday, Economy minister Luis de Guindos also said there is interest from domestic and international investors in the sale of one of those nationalised entities, NCG Banco. The government hoped to receive offers before the end of September for an October auction.

Mr. de Guindos showed optimism about the last jobless rate, which has gone down in August for the first time since 2000. “There is less employment destruction than before, although there is still a lot to do,” he stated. As for the lack of stable contracts, which stands at 6%, he reckoned that “the temporality is a major problem that exists in Spain” and insisted his government is fighting against it.

Barcenas case
Asked about the Barcenas case, the last corruption scandal that has put the Popular Party on an extremely delicate position for allegations of illegal funding, Mr. de Guindos didn’t want to give any details. “I am more concerned about how the Bárcenas case is affectiong Spanish workers than a foreign investment fund”, he said.

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The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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