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Balearic Government

Balearic Government

They ordered the withdrawal of the army emergency unit. Burned 1,400 hectares in total. It is the worst fire that has registered the Mediterranean island. The judge decrees imprisonment without bail for the alleged perpetrator of the fire. About 300 soldiers of the military unit of emergencies (UME) moved to Ibiza from Zaragoza and Valencia to combat forest fire declared this week in the island begin this same night his withdrawal. The Balearic Government, once the fire is already stabilized, has asked the General policy direction of Dnsa withdrawal this afternoon of the ctive displaced up to Ibiza.

Ctive of the EMU which have participated in the work of extinguishing fire, 200 from the III battalion of emergency intervention, with headquarters in Betera (Valencia) and 100 of the IV battalion of Zaragoza embark tomorrow at 14.00 hours bound to Denia and from this location to their respective destinations by road. The worst fire in total, according to the sources, the forces of the EMU have been used to attack the fire 6 aircraft of the 43 group of air forces, a light helicopter EC-135 for command and control and a HU-27 Cougar helicopter, equipped with helibalde (basket for water downloads). The fire has been given this morning by stabilized in the municipality of Sant Joan de Labritja-Ibiza, since the situation has substantially improved during the night, after four days since they started the fire in the Serra of Morna. From the Balearic Government is has appreciated the enormous effort of more than 500 professionals who have worked tirelessly these days in the worst fire ever registered in Ibiza with nearly 1,400 hectares burned. Source of the news: the fire of Ibiza, “stabilized”

Psychological Barriers

Psychological Barriers

The selective loses 10,000 points and the differential with the German bond exceeds 300 points. The fluctuations are due to the intervention of the CAM by the Bank of Spain and the lowering of the qualification of Moody s of Greek bonds to almost unpaid. The risk premium and the Ibex-35 have again lost their psychological barriers calls. The selective has fallen 1.92% from 10.059,30 points to the 9.886,20 and the differential with the German bond has climbed from the 293 Friday to the 326 basis points. After several sessions alzistas where came to reach 366 points on 18 July, the agreement for the Greek rescue relaxed the pressure last Friday, when it closed at 293 points. These fluctuations seem to be motivated by the intervention of the Bank of Spain to the box of the Mediterranean that same Friday and the decision on Monday by the Agency s Moody’s lowered the rating of Greek bonds on the verge of default. Day in the Park the Spanish stock market has begun the session with more than one hour late due to technical problems and the He did downward.

The decision of Moody s lower rating of Greek bonds in three levels, up to grade Ca from Caa1, sinking them until the lowest category of bonds trash and leaving them to a scale interval of non-payment, only served to discourage more investors. In addition, shortly before the close of European stock markets, Moody s announced that it is reviewing its note to eight Greek banks and warned that degradation is possible. The reduction of Moody s occurs once on Friday, another agency, Fitch make sure that the new programme of aid to Greece was a restricted default. The opening down on Wall Street in the absence of agreement in the United States to raise the ceiling of indebtedness of the country a week that limit is met only confirmed the trend of declines. In the absence of other news of relevance in Spain, since today is a holiday in almost the entire country, investors opted is for prudence and the collection of profits after several sessions upload and waiting for the battery of business results expected this week. In Europe, with the euro to 1.43 dollars, the main squares also recorded losses in a generalized manner, although minor Spanish, since Paris left 0.77%; London, 0.16% and Milan, 2.47%, while Frankfurt climbed 0.25%. Source of the news: the Ibex-35 and the risk premium on return to exceed the psychological barriers

Banco Popular

Banco Popular

Does the BBK group: for its part, the BBK group counts with a core Tier 1 capital? 8.8% (11.3% with provisions and other instruments). Banco Santander: has 8.4% (8.9%). Behind after the Bank that presides Emilio Botin would be box Spain-Caja Duero, which boasts a level of resources of the highest quality of the 7.3% (8.4% with provisions), in both EFFIBANK (formed by Cajastur and boxes of Cantabria and Extremadura), it has in 6.8% (8.3%). The solvency of Ibercaja stands at 6.7% (7.3% with provisions); that of La Caixa, at 6.4% (9.1%); of the Caixa Pollensa, at 6.2% (8%); and group BMN, at 6.1% (9.3%). Banco Sabadell, with a level of resources of the highest quality of 5.7% is situated below 6% (8% with provisions and other instruments); the Caixa Ontinyent, 5.6 % (7.2% with provisions); and Banca Civica, 5.6%, which would get 9.4% taking into account the provisions and other assets.

Financial Bank and savings account with a core capital of 5.4%, while taking into account the mattress of provisions, reaches 6.5%. For its part, Bankinter, Banco Popular and NovacaixGalicia reach a solvency of 5.3%. In the case of the Banco Popular, if taken into account the provisions and other instruments, this percentage rises to 7.4%, in the case of Bankinter, in the Galician box, to 6.5% and 6.8%. Pending after these entities are already solvency tests, which are CAM, Banco Pastor, Caja3, Unnim and CatalunyCaixa, since they get less than 5 per cent of resources of the highest quality which have been suspended. However, relying on provisions and other items, all these entities would outweigh above 5%. Source of the news: most creditworthy entities in Spain: Banca March, the Kutxa, Unicaja, BBVA, BBK and Santander.

State Secretary

State Secretary

Its first meeting has been the holder of foreign, Trinidad Jimenez, to talk about the economy, the situation in Libya and Afghanistan and the Spain-U.S. relations. On the agenda of Clinton, meetings with Zapatero, the King and Rajoy. Jose Luis Rodriguez Zapatero, the President of the Government, has undertaken this Saturday before the Secretary of State American, Hillary Clinton, to continue to promote structural reforms that will enable to consolidate the recovery, and has highlighted the importance of fiscal consolidation processes. Zapatero, who met at the Palacio de La Moncloa with the Secretary of State American, on the occasion of his official visit to Madrid, has informed Clinton of the efforts that the EU is doing to ensure the euro’s stability and improve their economic governance, according to the Government on its website. In this way, Zapatero It responds to the words of Clinton, that he has encouraged this Saturday the Spanish Government to complete the economic reform package that has underway to restructure finances and strengthen the competitiveness of the Spanish economy.

Clinton has shown understanding with that is difficult measures they take time and patience and it is important to achieve it until the end. In addition, Clinton has assured that Spain can count on friendship proyects in Europe of the Government and the people of the USA. It is the second fastest growing EE UU inverter. In addition, the Secretary of State stressed that American support for the Spanish economy is very strong. The Secretary of State has made these statements at a working breakfast with the Minister of Foreign Affairs, Trinidad Jimenez in the Viana Palace at 0900 hours on Saturday, in which both reviewed matters of mutual interest and international news, as the situation in Afghanistan and Libya.

Fund Commissioner

Fund Commissioner

Rehn stressed that the fact that both Italy and Spain have committed to undertake and implement ambitious measures to achieve fiscal consolidation and the full recovery of their economies is what should prevail in the view of the markets. It is what matters and what must be taken into account, he concluded. They ruled out a rescue for Spain and Italy do not believe that none of these two countries are going to need a special program of rescue, the foundations of its economy does not justify to be necessary, the Commissioner said, the measures already taken by their parliaments would not be needed such extraordinary measures. On the other hand, the European Commissioner has assured that the agreement on the second bailout to Greece and to ensure the stability of the eurozone will be completed in weeks, in early September. We are doing what is necessary to implement the agreement as rapidly and fully as possible, said Rehn, and he said that the European Commission’s services are working day and night to finish the technical details of the agreement and that they are moving rapidly.

The Commissioner relied on investors to tranquilizaran on the implementation of the agreement once they understand that all this work is carried out, and recalled that the President of the EC, Jose Manuel Durao Barroso, yesterday urged the EU leaders to a rapid implementation of what was agreed. Rehn also stressed that the EU must be ready to adapt its crisis management tools so that they are credible and acti, in allusion to the possibility of expanding the rescue (EFSF) Fund. To make this instrument asset’scarryingamount, it must be credible and respected by the markets, so the EFSF will need to be continuously evaluated and updated, said the Commissioner. According to Rehn, this is in line with the conclusions agreed at the end of July by leaders Europeans, who demanded better crisis management methods in the single currency area. As yesterday underlined Barroso in his letter to the js from Government, the Commission remains ready to contribute to this task of paramount importance, added Rehn. In such a missive, the EC President said that the debt crisis already not only affects the peripheral countries and noted the need to expand the bailout Fund (EFSF), something that has attracted criticism from the German Government to reopen this debate at the wrong time. Source of the news: EC says is crucial to Spain apply “offensively” reforms

European Union

European Union

Markets. Nobody knows who exactly are, but there are daily in the press, sometimes indecipherable screens of Bloomberg, in the mouth of the citizens and especially politicians, who have come to define them as herds of wolves. Markets return to lose confidence in the handling of the crisis by Europe: bailouts don’t work and the fire of the fiscal crisis does more than stoke, with Spain again near the hot zone. The causes are varied. The changes in the leadership of the ECB and the IMF open questions. The upcoming European effort tests to banking – in June – generated doubts. And, above all, the cacophony of voices on the restructuring of Greek debt, a taboo that is increasingly closer to break, has left this week to Europe compared to another moment of truth. Source of the news:: the baton as head of IMF accentuates the crisis of the European Union.