Urgent: Hearing of Zapatero

The chairman of the Government, José Luis Rodríguez Zapatero, confirmed today that the minimum guarantee on deposits will rise from the current 20,000 euros to 100,000 euros per head and body.

On the other hand, the government will create a fund of 30,000 million, expandable to 50,000 for the financing entities in exchange for assets "healthy"

What do you think of these measures? Are they necessary? Are they enough?

Update: The American stock exchange becomes a plunge down more than 5%. The SP500 closed below 1000 points

Crash in Asia, the Nikkei collapses by 7%; Indonesia suspends trading (-10%)

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Written by Carlos Lopez on Oct. 7, 2008 with 110 points.

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110 reviews

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# 1, Kas8355

Oct. 7, 2008, at 17:51.

With that money?

A greeting to all

+11

# 2, As

Oct. 7, 2008, at 17:53.

And why can not guarantee 100%? .. Is it not said that full confidence in the Spanish banking? ..

-5

# 3 Borg Collective

Oct. 7, 2008, at 17:54.

With our money, of course. Toca raise VAT to 20%, further burdening companies, which it financed the rights of the ape is a must.
Who is the real ape with the apes to forgiveness?

-14

# 4 Skin

Oct. 7, 2008, at 17:56.

I have colleagues in various autonomous communities and are having trouble collecting the wages of staff, the state has the empty sack can not guarantee anything.

-37

# 5, kimi

Oct. 7, 2008, at 17:56.

is a good measure as if the journalist says now moves to the citizens favoring the granting of loans. if people are still unable to enter for fear of banks ....

# 6, Borg Collective

Oct. 7, 2008, at 17:58.

When does this law apply?
I Know the business of EUR 400 multiplied by 100,000. ZP has become Jesus Christ of the twenty-first century.
We will not take more hair, bunch of politicuchos.

-3

# 7, Colonel Perote

Oct. 7, 2008, at 18:03.

¿Finance entities in exchange for assets "healthy"? What are healthy assets: the makeup or without makeup?. That is no longer a financial fund that then we will not find those who finance financiers financiers. And when you speak of carrerilla I prize.

+29

# 8, kimi

Oct. 7, 2008, at 18:05.

Friday is approved by cabinet and then we can know the details of how to be articulate. it is like to use but with good credit, and as you increase the liquidity are sold to the market again, so is not dependent on handouts from anybody in the medium term

+21

# 9, Hala size!

Oct. 7, 2008, at 18:06.

And I think that that dare to guarantee that dough because they know that no bank or cash is going to make crack ...

+25

# 10, Miki

Oct. 7, 2008, at 18:12.

the truth that this money is going to ensure the liquidity of the entities for me in part because it avoided the possible fall of `financial institutions, but where will be money? of our pockets. then if you lend money to entities, at what price? I do not see so clear that service be provided at a cheap price ... this means that if you do not understand that evil will rise in rates (since banks will not want to lower their margin) and then another topic, with heavily indebted companies and individuals who are lost and Income that have suffered from unemployment, decreases in sales ... the banks approve these credits? Anyway one thing is that banks have liquidity and something very different is that now give loans to anyone just because they have it. In short he is badly ill will

-10

# 11, eltonto

Oct. 7, 2008, at 18:15.

The crisis will not end for one simple reason:
The more the Cagan banks, giving them more money without requiring that service be provided to companies or individuals (only circulates among them to speculate).
Above forcing central banks to lower rates.
If you do not give a fucking hard no matter: to increase the Euribor becoming increasingly.

So ... what to clean up the system if it is better?

+37

# 12, a dreamer?

Oct. 7, 2008, at 18:17.

What seems clear, obvious on the other hand, is that the crisis is affecting the first to Currito (difficulty paying the mortgage, unemployment, soaring basket ... the worker walk is the first q suffers), but, paradoxically, is to last a Currito to the q will provide relief. In the end, when it comes out of this, who will pay the consequences? As the first to suffer. We raise taxes, etc. and q have more difficulty in moving forward we will also endure all those (q is what is the middle class, q as many of us ....)

+29

# 13, King Quinito

Oct. 7, 2008, at 18:17.

In this case it is best that the Bank of Spain to buy all the mortgage loans and renegotiate a price differential of + money. Solved problems of liquidity of financial institutions and arrive at the end of the month of the mortgaged

+56

# 14, Flipper

Oct. 7, 2008, at 18:23.

It seems good measure, it reminds me of the extent of Fraga when bathing in Palomares.

As the crisis of confidence, there is an exercise in trust and lend money to banks to give peace of mind.

A healthy exchange of assets, thus this is a good investment for the state, from which we benefited all (medium to long term, but worth it. In short no, because if an asset is healthy returns in the short term it logically is not selling it, even in the medium term I would say).

Only one problem: inject confidence is fine, but I think that the Spanish authorities are contaminated, such as those from around the world ... how we will know what we get in return assets are "healthy"? Who is going to evaluate what we are buying? Who is going to check that what they give us in return for this liquidity is a good investment?

If an entity known to have assets amounting to a bankruptcy secure, we will sell the whole or bankruptcy if it does not sell, or if we get tricked and moved to the State ... What will happen to them? Are you put in jail?

Perhaps this measure should be accompanied by severe economic sanctions and criminal entities and individuals to place assets in the state contaminated as a result of this measure, since those who try to take the place safe.

Can such measures as are necessary, I do not know, but I do not think that will be sufficient, because in the end the rotten assets are still there, and therefore the entities, although they may be legal and not attempt to place the state can use that cash to pay their debts rather than move to do so, to what the system will collapse.

If this measure is regulated so as to establish strong economic sanctions or criminal penalties for those who try to place the assets contaminated with this measure, or measures to prevent use that cash to pay debts rather than putting it into circulation, then I think maybe a few entities making use of this liquidity.

And those who make use of it, a healthy body, probably put in circulation, but I do not think that lower rates because those entities that did not gain entry and are suspicious of, and although Solbes is gallumbos Palomares got up in the knob, the challenge is to make these entities are also baths, which seems more difficult

I think we will have to wait to see what effect occurs far ... Let's see if ZP leaves these waters as entered or if the radiation of water makes it glow in the dark after this bath of confidence.

(Je, je, if I hear Solbes JLRZ or comparable with Fraga ...)

+31

# 15, JavierML

Oct. 7, 2008, at 18:24.

Hello everybody.

What would make sense is that what the fund would provide all financial institutions, depending on the volume of its assets, as are those who benefit from these deposits and do not forget that part of the contract we signed with them that the money is our. Somehow inclumplen when you use it and lose it. Therefore, I do not think it is the responsibility of the government.

Nor does it make sense, # 2 Given, ensuring 100%. That's lying to the end customer. If the wreck is widespread can not be returned even if all you want, so it is a "toast to the sun," a guarantee "for my co-jo-tions." But in practice, if today there are problems in obtaining funds, imagine if a widespread debacle.

Therefore, # 1 Kas8355, I hope that what "The government created ..." refers to "legislate the creation of a fund whose contributions will come from various financial institutions covered by this agreement," or something like that.

Finally end up coming out of our pockets alike, because new tensions will lead to hikes in the interbank Euribor. But where should not go out of our taxes.

Nor do I agree with # 3, Borg Collective, I do not think you have to climb on IVA. The thing to do is to pursue disappointed that your payment. If there is established, what we have to pay all, if not me and you because you know how ingeniartelas pounds.

+21

# 16, Anarelion

Oct. 7, 2008, at 18:28.

# 14, and as the interest banks pay for money that you have placed in them?

-5

# 17, Flipper

Oct. 7, 2008, at 18:30.

Certainly a question: Will it be borrowing money secured by assets, or it will be a purchase of such assets?

What if a loan is how many days?

# 18, juanjo

Oct. 7, 2008, at 18:32.

that if the state directly outside the bank realmete companies that need it and so at a rate of interest (reasonable) again tried to put the Spanish movie industry and lower unemployment rates that the wound is infested with the economy. sumamete is an outlandish idea but maybe that great evils great remedies. (And thus passage of more than one corbatitas director of the bank will probably change the tone in which they speak when you are the customer)

# 19, danika

Oct. 7, 2008, at 18:35.

I have not yet returned the statement of income in 2000 and believe that I am going to guarantee 100 thousand euros if my bank is not for me.

Mira is what I see and what I see is that every morning I go to work and the C-40 exit from Barcelona there is not a zero car traffic jams and four cats at 8 o'clock in the morning.

I come to work and see it as canceling orders on a daily basis and as there were four of the 100 cats that we were.

My ccomo if I guaranteed the earthly paradise. I think the thing is getting very ugly and no bank, nor any government can guarantee that amount of money in case of problems.

A greeting, Santi.

+27

# 20, Flipper

Oct. 7, 2008, at 18:36.

# 16 Anarelion

Do you're asking?

I do not know, I do not understand very well the question, but the banks you religiously pay the interest on the account you have contracted with them in any case, the cash you give to the cashier (as the joke today from Forges), or When removing the money from your deposits

In any case, they are always the commissions to offset interest and in the end you're where you ought to, our total charge for everything ...

# 21, Anonymous

Oct. 7, 2008, at 18:37.

"# 18, juanjo
Oct. 7, 2008, at 18:32.

SEE YA THERE. It's called ICO.

+11

# 22, Anonymous

Oct. 7, 2008, at 18:48.

I do not understand because he seems so bad that the minimum guarantee. Already it's a little unbelievable but it is a logical step to bring trust, which makes most needed now.
in Ireland can assure the funds opened Pandora's box for all countries that had not. Remember that GBretaña started to protest because he was fugaba capital to Ireland. It is logical, people are afraid of losing their money and time that banks are bankrupt and no one knows what may happen me where we could guarantee me 100%.
Or perhaps it is logical to save your life, goals and no money in a bag or any product if not a speculator ccorriente and the bank does not guarantee that you can lose that money?
Besides what would have consequences if that happened? The financial system as we know it would disappear. People draw the dienro of banks - you parecera exaggeration but I think that would happen, and I keep in their homes, or what would invest mainly in property type gold or diamonds, or compraria debt of state banks are descapitalizarian ... ....

# 23, shocked

Oct. 7, 2008, at 18:52.

Well, I do not think anybody knows, neither of them where would that money, but after yesterday's talk with the banks, among all agreed that it would be shocking that we were all the bank to get our money, then are taken out of his sleeve this initiative in order to reassure citizens, we do not go to the bank to withdraw our savings (that would be ACE TO MBE)

# 24, oreidubic

Oct. 7, 2008, at 19:03.

Because they have been slow to say that what castañazo of the bag ... today it has recovered a bit and tomorrow, even that of God, a drop of poqutín above ....

Instead of being positive news will be interpreted as negative, while four days ago anyone who had a conversation with any pringaillo of any bank aocnsejaba draw money from banks as that ... when you are petar be unexpected .... if not life would be very easy ...

Coming evil and should be a little bit of knowledge, a sliver of luck and a lot of patience ...

and if you do not like who sends you presentáis, ganáis and solucionáis ... it is easy to go against ...

# 25, stealing public is more distrust

Oct. 7, 2008, at 19:04.

what is yours as to guarantee the savings especially among lower and middle classes, but "steal" the money to buy public debts toxic I do not give any confidence, sure that the trust was given to them for thieves to continue making your own.

If the state is going to take these debts and rubbish and is fast becoming sluggish in many administrations to private companies and citizens because they do not pay this debt is going to be even more what this is going to give confidence?
IROS to be taken by c. the confidence of more debt to the club.

Less credit and savings with more work, things fall at prices that people have in their pocket or can save and you can not go to Cancun that hold up to save, and the good of vividores indebted to the ears.

# 26, Raul_VLC

Oct. 7, 2008, at 19:06.

info

http://www.invertia.com/noticias/noticia.asp?idNoticia=2029577

The ECB will double the volume of refinancing to auction 182 days

http://www.invertia.com/noticias/noticia.asp?idnoticia=2029655

Quaden, the ECB said it is no longer possible to lower rates excluded

Down the Euribor, is not it? we'll see! and suerteeeeeeeeeeee!

# 27, Antonio.

Oct. 7, 2008, at 19:12.

The money, better house, coleguitas. If they do not guarantee 100% wrong.

-13

# 28, Jose

Oct. 7, 2008, at 19:17.

Quiet, that ZP fulfill his word. And if there is no money in the coffers nothing happens. The calls for a prestamillo of 700,000,000 euros to the Euribor +1 and everything settled.

-12

# 29, J.

Oct. 7, 2008, at 19:20.

To my far, as I said before, I feel bad. Probably necessary, but bad because you forget people and the drowning of their loans, mortgages ...

That is, the saving banks ECB, companies, the Treasury megafondo ... and who saves people? I am not asking for - even - a policy change, but auctions of liquidity to 12M (I think that tomorrow there is a 6M) by the ECB to "relax" the Euribor 12M to 4,75-5%.

By the way: from where you're going to get the Treasury 30 billion? You vote:

a) issuing that debt, which would rise almost 10% of the state debt (up 360Millardos, more or less), putting the AAA in question ...
b) to "another place"

... someone else knows a site where there are 30 billion sleeping (and almost to 50Millardos) ... are you familiar?

And if I say 'Guarantee Fund of Social Security "... are you familiar?

If you touch this fund to remove the mud to companies (and see what and how) is to put barricades in the streets and beating them with fire ... Pepel Spanish politicians ..

let's see where this is ...

+11

# 30, XYZ

Oct. 7, 2008, at 19:20.

1 .- Well, I guess that € 100,000 to cover a percentage most of the HOLDERS. Well, I think it gives some peace of mind. Needed.

In any case it is clear that a measure satisfies the possibility that a financial institution goes bankrupt.

Obviously if you bankrupt the entire financial system even if the guarantee is 20,000 or 100,000 because obviously there is no money to insure all the deposits of all entities simultaneously.

2 .- As owner and entity. Sorry for my ignorance. Does that cover banks and savings banks or single?

3 .- The finance entities in exchange for assets "healthy" what does it mean? He understood that what they bought U.S. assets were "toxic". God that mess. I do not understand anything

Thank you and greetings

# 31, Philip

Oct. 7, 2008, at 19:21.

It is good news because it was time to move ficha.La bad news is that only 80% of deposits and accounts do not exceed those 20,000 Euros. We are stiff

# 32, J.

Oct. 7, 2008, at 19:22.

Indeed, exercise of memory:

Which country has increased the deposit insurance fund to reassure people that did not queue in front of banks to get their money?

Argentina

¿Remember what happened then?

Now it is going to be global. If you want, sacadlos, if you're going to give equal.

Fade to black
The End.

-10

# 33, XYZ

Oct. 7, 2008, at 19:24.

# 29, J.

To fund Social Security would have missed the eye for some time. As they do not have to smell to know where they are to exploit seams!.

Ayyyy my future pension! I make it a pension "deleted". Who is the place? When San Quirce?

+10

# 34, Justiciero

Oct. 7, 2008, at 19:27.

Well, I think it is perfect that everyone remove the pasta from the bank for lack of guarantees, because if you have a mortgage of 200,000 € and the value of your floor down to € 180,000 the bank will ask you additional guarantees valued at 20,000 € and espavilate either with a guarantee to pay the amount or whatever, but you enbargan, so if I have € 30,000 in the bank and bankruptcy give me 20,000, but in this case I have to be calm and tell me that because fiarme it is very difficult and such and such ... .. Is fiarian them from my apartment if my low-value and tell them that I am reassured that worker and good people and such and such?

+30

# 35, XYZ

Oct. 7, 2008, at 19:27.

Well, nothing. Thanks to that I had a negative for giving my opinion and make a few questions. So glad you try to learn if the first exchange was offended because someone made a few simple questions.

# 36, Another of Go

Oct. 7, 2008, at 19:36.

Surely knows that this is going?
Well, so far it seems that it has received neither the first of two classes of
Economy. and "the vice of ESOMAR," every time he says something, after some time says otherwise, (we can see the debate with Mr. Pizarro)
Luck to all who need us will

-5

# 37, Lukas

Oct. 7, 2008, at 19:36.

Working in a real estate if those few who still open
door to see how companies come to see as promoters
is the thing.
We could see this coming for more than a year, and what is happening in 90% the fault lies with the banks themselves, that I was saying get me the operation that there is no problem.
The operation was 100% of the value of all housing costs + + 30.000E of a BMW, all in a mortgage in 40 years.
The director of the entity said:
If the valuation is no problem.
And the valuer you said: how goes the valuation?
That's it, the notary to sign in 10 days.
And so one after the other. Now closed doors if you have some savings and go with good nominates and family bonds.
Go really change?
And now to worry about banks and pay all before or after the duck.
Where is the money generated during the boom Spanish, European and world?
A live which are two days. Good luck to all.

+44

# 38, danika

Oct. 7, 2008, at 19:44.

I think that is good and necessary measure, that does not deny it, maybe a common European policy would help clear this something that we are all Europeans when things go well but when there is problamas all its own.

For you I will fool I sold half my savings in mixed income and tomorrow I will draw from the bank, is not that no fie, simply prefer to wait a little escampen doubts that just in case. As the saying goes "Man prevendio voucher for two" and the money it costs a lot to win it.

The mere fact that the politicians speak of the subject and I assumed a risk that I have no reason to run and less depression in the middle, then nothing happens and it is stupid, if I am wrong I lose a 5% annual interest and if there are problems won 100% of my capital.

I hate gambling, but it is what it is.

A greeting.

-3

# 39, BUC

Oct. 7, 2008, at 19:45.

First of all Congratulations on the page Carlos, you still assiduously. Well, I have a deposit at the Deutsche Bank, with € 46,000 monthly review Euribor -0.5, where the contract on the deposit me say explicitly that only me assure (the state of course) to a maximum of € 20,000.
Therefore, I understand that when making official the new measure to secure up to 100,000 €, my bank (DB) should be free to send a clause saying that the state signed me up to make sure those 100,000 do you?, But because they can already say Zapatero Mass., if the bank did not change me even if the conditions are subsidiaries responsibilities of the state were up my deal. € 20,000.
If anyone knows more than me (which is not very difficult) and can be thankful respond.

Greetings

+10

# 40, the less you give pa brick making a favor

Oct. 7, 2008, at 19:53.

"Now closed doors if you have any savings and go with good nominates and guarantees family."

So please do not know that you are doing to the potential buyer, because in a few months will be much cheaper (law supply and demand)

The largest putada here on the sidelines of the consequences they bring the real estate bubble in the country that it is Sofres for:
- Those who advance signals without repayment by not granting the mortgage,
- Those who got into mortgages bridge speculated that better to wait to sell their own home and now if they want to sell will have to give him a good rebajon (ay! Greed greed bird in hand worth more to think in a year I sell my old house more expensive and would pay another peak of the new)
- The brick (developers, real estate, banks, pasapiseros, political) of course those responsible for the scam that have not loosened their stock in time or order of plum.

The others work with or without eating popcorn and see how great the fall pyramid scam of the century and finally changed our economic model based wafers.

# 41, ame76

Oct. 7, 2008, at 19:58.

I really do not see the benefit of the banks to buy assets "healthy", if those are not the problem .... Further, as has been pointed out there, who decides which assets are healthy?

On the FGD, I find it quite ridiculous but I also think that once gave it to Ireland by changing the rules all the other countries have to do something to prevent them pass as the English, they saw that all the money was going over there .

And I say, as much as 100% guarantee ... if a bank goes as bark, bark if I see two or three more difficult, but if there is fourth'm sure that the poor are left to two candles for a lot of collateral to pledge , Have not you?.

And even more, if a bankrupt bank and we have to dip into the egg FGD me a game to the next day that goes around the country (or Europe) to remove the pasta from their respective banks. And guess who estaréis all agree that this situation would be untenable for a lot of assurance that these brilliant politicians (starting with the Irish) have been put occurred.

# 42, JavierML

Oct. 7, 2008, at 19:59.

BUC # 39,

The law is above any such clause. Quiet about that.

What I did not have to have done was to be signed under those conditions. There are many banks, and all offer similar conditions.

# 43, JavierML

Oct. 7, 2008, at 20:00.

The drop in American stock exchanges around 2.5% at this time. So because hara you know that tomorrow the European stock exchange: to consolidate the level of support achieved in the day yesterday.

# 44, JAC

Oct. 7, 2008, at 20:11.

# 35, XYZ

I think our future pensions are walking a tightrope, on the one hand by grabbing our "des" government and on the other side held by the bank "piros."

Neither case to the negatives, "alter ego" to your yours

-2

# 45, Mary

Oct. 7, 2008, at 20:14.

And when the measure will be effective guarantee of 100,000 euros per account holder?

Hopefully not within 2 years ...

# 46, Noys

Oct. 7, 2008, at 20:14.

Has finally moved the Spanish government tab! Was lagging behind after having acted Ireland, Greece, Germany, Denmark, Austria, Sweden .... It was no longer possible to continue this absurd amount of 20,000 euros as a guarantee minimum, an implied tomadura hair and a scam to savers.

He would prefer to declare a guarantee of 100% but I doubt that the state has enough money to cover all deposits with an alleged massive fall in banks.

At the moment I have liked the measures taken and desire to not have to resort to FDG to save any entity.

Good news!

# 47, JavierML

Oct. 7, 2008, at 20:15.

Even when they go down the bags? I asked a colleague today at noon. The answer I get a little "Galician" Until we come back to go up and recover.

And when will it be? - I was stressed. Well - I have responded - continue to decline as at this rate, soon.

And as we all know that the crisis will not end soon, because one day they have to stop falling. I bet by November, to give rise to the typical rally upward every year, the prenavideño. And why not, at the beginning of the month, when Obama wins the election. I am convinced that is the favorite candidate of investors. And if that does not win come down further.

Oh, and the Nasdaq already exceeds 4%. The media continue to fall as playing cards.

# 48, Noys

Oct. 7, 2008, at 20:18.

# 45, Mary

This Friday will council of ministers. I hope you approve as soon as possible and that when re-entering the pages of FGD see clear guarantees that at least 100,000 euros per head and body.

# 49, Noys

7 de Octubre de 2008, a las 20:24.

# 47 , JavierML

Estoy viendo el Nasdaq prácticamente a tiempo real en finance.yahoo.com y está cayendo un 3,03%.

En Estados Unidos tienen un auténtico agujero negro financiero y van a necesitar más que 700.000.000.000 de dólares para conseguir taparlo (uff, cuantos ceros!!!).

Respecto a la “LotoIbex” cada vez opino menos, si no baja a 9.000 no juego, ahora me da por jugar al 7/39 de la Once y tengo la tranquilidad de que como mucho pierdo 1 euro.

Saludos!!

# 50 , Pues eso

7 de Octubre de 2008, a las 20:32.

# 12 ¿una ilusa?

A ver si nos enteramos, los curritos no somos “la clase media”, ya no existe clase media, y la poca que pueda quedar se la comeran la subida de impuestos y el euribor.

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