THE BANK REFORMATION SOUNDS ME TO FINANCIAL LID

Today has been given officialdom by the council of Ministers of the plan I "renovated" for the Spanish financial system, its ideologist is as all you know the former boss of Lehman Brothers in Spain and Portugal and as such he has carried out an exercise of financial engineering that if it is sustained well until the end and if not, other or other Lemhan brothers in view of his curriculum experience at least in this he doesn't lack. The last objective of all the changes that has foreseen is that the Spanish banking recovers the credibility in the markets. That is to say that sell debt among institutional investors again, what will allow them to reopen the credit to families and small companies.

 

This I don't see it so clear neither so quick I fear myself that we are another time before an exercise of financial balance that is of selling smoke to see of what is if somebody buys time the actions exposed in the plan to me they are fancied in contradictory and mainly so dispersed many cases that what they look for is the so much success percent he gives me the impression that is as playing many we say different in the lottery raffle some prize will play and if I plunder the fantastic one. 

The minister of Economy has confirmed the figure of 50.000 million Eurus, well-known for weeks; the novelty is in the breakdown of the sections of where all that money will come out. And because if the debt of promoters is calculated here in 175.000 million Eurus they begin to play the tenth of the lottery because and if you doesn't charge any credit of the manufacturers of where the thousands of millions that they lack, will come out good the sector provisioned has gone about 60 thousand millions so we would lack 65 thousand millions. 

 

I don't know if these simple ones supreme and subtractions give enough trust so that he recovers the solvency of the Spanish banking. De Guindos just in case, he intends that the entities cover all the risks of the sector of the brick better and it squares them the bills and it asks them that they separate other 25 thousand millions of Eurus of their benefits to cover the problematic credits, with this quantity, the money to avoid bigger wrongs would increase until the 85.mil millions (60.000+25.000). I Eat there are still more credits than the banks they say that it is good, but that that is not known until you charges them it demands that they keep, also, other 10.mil additional millions that it would fill the box until locating it with 95 thousand million Eurus (85.000+10.000). Well if we keep these numbers in mind we will see that when adding the 50.000 millions of the state the provision for the box of the credits garbage of the construction it is of 145.000 million Eurus. I lack 30.000 millions but good it can be another unexpected tenth. 

 

That that if I have clearing it is that with so much provision and so much financial speculation because in any case it is said of where they took out the banks all the money to provision that that less it happened it is that the banks open the faucet of the credits, neither to matters, neither to companies, neither among them, so with these perspectives you will already tell me to the one who the banks and the promoters that are even in foot will sell the stocks of housings that are to sell of first but those that leave adding for the surrender of payment of mortgages. 

 

Undoubtedly the solution to assure the plan "renovated" this the tactics of regrouping debts, pardon says Banks, this that is certain should be made it is not a solution but a peremptory necessity and a trap to my he gives me the sensation that is sought to make the trick of hiding the dirt under the carpet, so that it is more difficult to find it, and they will see you the biggest quantity in dirt this in Bankia entity that the previous one already governs he made like carpet to hide doesn't know how many untenable entities, and under her I place that there been and to have of the false jewels of the socialist crown, and I believe a monster with the feet of mud to give him an image of greatness and solvency that never nobody and less now it was believed. 

 

This new plan of coalitions has as objective two ends one to hide but the dirt that there is in Bankia and for he is organized it a second moved and they are added but thousands of millions of the FROB and the other objective is to make believe to the Spanish society that this won't cost anything to the taxpayer, let us see the FROB it is the state, and the state in Spain, we are you and me or at least he looks like each other this way it. In short I told it yesterday and I certify it today, the government of the PP by means of his financial engineer has designed a tangle of much care, so much that it is very probable that don't deceive anybody I save them time at the time.