SAN FRANCISCO (MarketWatch)
The European Central Bank has rejected Spain's
proposed plan to recapitalize Bankia SA with
government bonds, the Financial Times reported late Tuesday in its online
edition, citing European officials
Spain had proposed putting 19 billion euros
($24 billion) in sovereign bonds into Bankia's parent company, which would then
get swapped out for cash at the ECB's three-month refinancing window, FT
reported
The ECB reportedly rejected the plan on the grounds it violated E.U.
rules against central bank funding of governments
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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