The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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miércoles, 13 de junio de 2012

IMF request may delay auctions of Spanish banks

The planned auctions of Spanish banks seized by the government may suffer delays due to recommendations by the International Monetary Fund on how rescued financial entities should be sold, reports Cinco Dias in its Tuesday Internet edition
The IMF says that the current EPA protection scheme, which addresses future losses generated by a failed entity being sold, will have to be revised. Currently, the Deposit Guarantee Fund, known as FGD in Spain and financed by the country's banks, will take on 80% of those losses, while the buyer will take the remaining 20%
Although the scheme has been fundamental in encouraging the sale of rescued banks, the IMF believes that, at the least, the percentages should be adjusted to increase the margin of loss and motivate the buyer to run the loss-making assets in a more efficient manner
Firm bids for nationalized Catalunya Caixa are expected to be submitted by June 27, while offers for Banco de Valencia are expected in mid-July

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Lagarde (FMI): `Hay que salvar el euro en menos de 3 meses´

La directora gerente del FMI, Christine Lagarde, ha afirmado en una entrevista concedida a la cadena CNN que hay que salvar al euro en menos de tres meses. Según CNN, la afirmación de Lagarde es una respuesta a la predicción del inversor multimillonario George Soros de que Europa tiene tres meses para salvar la moneda única.