home loan with bad credit rating By www.valenciaplaza.com | Citigroup strategist José Luis Martínez believes the importance of the delay in the Spanish request for capital to bailout the country's banking sector has been overblown by commentators. Martínez, though, worries about the cost of the short-term credit for Spain. To what extent the results of the latest audits on the banking sector have improved confidence in the Spanish banks? Confidence…
free credit help online By Julia Pastor, in Madrid | The Spanish minister for the Economy Luis de Guindos finally released Monday the letter addressed to the Eurogroup president Jean-Claude Juncker with the aim of officially requiring financial assistance to recapitalise troubled national banks. His words have taken the front pages of all the Spanish media. According to Europa Press, the letter begins with this paragraph: “I have the honour…
can you refinance mortgage with bad credit A drop of merely 10 percent in house prices between 2012 and 2014? BNP Paribas believes trends in Ireland and the US make the case for further value losses in Spain. Independent auditors of the Spanish banking sector Oliver Wyman and Roland Berger described their base scenario for the country's housing market in line with the International Monetary Fund's forecasts, and pointed at…
By Julia Pastor, in Madrid | Merkel, Hollande, Monti and Rajoy. Four names for another crucial meeting in the euro zone, the one held today at Rome to smooth the path of next June 28-29 Summit. Christine Lagarde will not participate in this conversation but her name will surely loom large in the four European leaders’ minds. The International Monetary Fund’s managing director is raising the pressure for the European…
By Luis Arroyo, in Madrid | The results of those independent audits over the Spanish banking sector have come to be summarised in one line, that banks would need up to €62 billion if the economy took a turn for the worst. Now, the published opinion in the country is terribly divided, as it was expected between the optimists and pessimists. To some extent, we cannot exactly be hopeful. There…
MADRID | As reported on Thursday by El Confidencial, Carlos Dívar, the president of the Spanish Supreme court and the Judicial Council (CGPJ) announced that he will step down from the two positions following criticism over about 30 trips to Marbella and other luxury resorts paid with public funds to a value of about €28,000. Dívar’s decision to resign, which he announced to the members of the council in a plenary…
MADRID | Estimates from consultants Oliver Wyman and Roland Berger show Spanish banks would need capital up to a maximum figure of €62 billion to offset a stressed scenario. The results of the €2-million independent evaluation of the sector were reported in a joint press conference by the deputy governor of the Bank of Spain Fernando Restoy, and secretary of State for more the Economy Fernando Jiménez Latorre. These sums derived…
By Álvaro Mohorte, in Valencia | www.valenciaplaza.com | Spanish banks have had enough of bricks and mortar, and urgently need to sell properties. Up until now, prices of many of the properties coming from developers as well as individuals have been kept over the market’s in order to protect the entitities’ balances, but requirements of further provisions have forced a strategy change. The goal is to get rid of thousands of flats, apartments…
NEW YORK | In the debate over austerity and government spending some throw the question of 'oversized administrations'. Are there too many government workers in Europe? And in the U.S.? Should the numbers be reduced? The Spanish Secretary of State for public administration Antonio Beteta has apologized to the unions for suggesting last week that workers should “forget about having their morning coffee break and reading the newspaper.” It has…
By Luis Arroyo, in Madrid | Why did the euro seem to work so splendidly after just a few years …to be about to crash now with such almighty noise? Here I suggest an explanation, which is simple and incomplete and yet, crucial. In the first graphic, we see the Spanish real GDP in red and Germany's in blue both at annual growth rates. The drop in the 1990s is…