Pedro Solbes

Born in Pinosa (Alicante) on August 31, 1942, married to Maria del Pilar Rodriguez Castro and father of three children, Pedro Solbes Mira and a doctorate degree in Political Economics and European law.

He entered the civil service career as a technical business of the State in 1968 and since then has almost always been linked to matters related to Europe.

The former president of the Government Felipe González appointed him minister of Agriculture in 1991 and two years later gave him the portfolio of Economy, a Ministry since it prepared to Spain for entry into the euro. In addition, he managed to start the recovery of the country's economy, whose reins he took Rodrigo Rato later with the arrival of the Popular Party to power.

Because of its prestige in Europe, in 1999 he was appointed Commissioner of Economic Affairs. Virtually can be said in Brussels that his only 'black spot' criticisms were received by the management of the statistical office Eurostat during the period in which he was not yet commissioner.

His mandate at the head of that office ended in November 2004, but the call from Zapatero, who already had included in his committee on Notables'-was too tempting and Solbes has accepted the portfolio of Economy and Finance, to which also Miguel Sebastian had postulated, and Jordi Sevilla. The minister faces the responsibility of fulfilling one of the main promises of the PSOE: to maintain a balanced budget during the entire legislature.

Pedro Solbes, which is defined as "an ordinary man in absolutely everything", is married to Maria del Pilar Rodriguez Castro, technique of Civil Administration of the State assets, which has one son and two daughters (Teresa, Michael and Lucia) . Polyglot, speaks French, English and German, in addition to Catalan. During his nearly five years of commissioner, was living alone in Brussels because his wife and children remained in Madrid, where he was traveling every weekend.

Written by Carlos Lopez on Jan. 23, 2008 0 comments
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Jean-Claude Trichet

Biography
Born in 1942 in Lyon, Jean-Claude Trichet was governor of the Bank of France and member of the governing council of the European Central Bank deputy governor and the International Monetary Fund. Mining engineer, the future president of the ECB is also diploma at the Institut d'Etudes Politiques de Paris and a degree in Economics.

Trichet worked as an engineer in the private sector between 1966 and 1968. After he entered the prestigious ENA (Ecole Nationale d'Administration) and was appointed inspector of Finance in 1971.
Subsequently, climbed posts in the Ministry of Finance, where
served various functions in first in the General Inspectorate of
Finance (1974), and then in the direction of the Treasury.

In 1978, he was appointed advisor economómico in the cabinet of the Minister of Economy and between 1978 and 1981, adviser to the president for Industry, Energy, Research and microeconomics.

Will continue their upward career by becoming head of the Office of Development Assistance, director of international relations in the direction of the Treasury. , Director of the Cabinet of Minister of Economy
and, in 1987, director of the Treasury. From that moment, passes
be part of the General Council of the Bank of France.

In 1992, was elected president of the European Monetary Committee. In 1993 he was appointed governor of the Bank of France. In 1994, at intregra the European Monetary Institute. In 1999, was renewed in the post of governor of the Bank of France.

Curriculum

Date of Birth: December 20, 1942
Place of birth: Lyon, France

Educational background

1964

Mines Engineer, Ecole nationale supérieure des Mines, Nancy

1966

Degree in Economics, Universite de Paris

1966

Diploma from the Institut d'etudes politiques, Paris

1969-1971

Student at the Ecole nationale d'administration
Assigned to the "Inspection générale des Finances"

Worked

1966-1968

Engineer in the private sector

1971

Deputy Inspector of Finance

1974

Representative of the General Inspectorate of Finance

1975

In charge of mission at the Treasury Department

1976

Secretary General of the Interministerial Committee for the Management of Industrial Structures (CIASI)

1978

Adviser to the Minister of Economy

1978

Adviser to the President of the Republic for Industry, Energy and Research

1981

Head of the Office of Development Aid in the Treasury Department

1981

Assistant Director of Bilateral Affairs, Directorate of the Treasury

1985

Chief of International Affairs, Directorate of the Treasury
President of the Club of Paris-Rescheduling of Public Credit (1985-1993)

1986

Director, Office of the Minister of Economy, Finance and Privatization

1987

Director of the Treasury

Deputy Governor of the International Monetary Fund (until 1993)

Deputy Governor of the World Bank

Censor of the Banque de France

1992

President of the European Monetary Committee (1992-1993)

1993

Governor of the Banque de France (first term)

Member of the Board of Directors of the Bank for International Settlements

Governor of the World Bank (until 1995)

1994

Chairman of the Monetary Policy Council of the Banque de France
Board Member of the European Monetary Institute

1995

Deputy Governor of the International Monetary Fund (until 2003)

1998

Member of the Governing Council of the European Central Bank

1999

Governor of the Banque de France (second term)

2003

Chairman of the Governors of the Group of Ten
President of the European Central Bank

Decorations

• Germany: Grand Cross, First Class Order of Merit
• France: Commander of the National Order of the Legion of Honor
• France: Journal of the National Order of Merit
• Other decorations: Commander and Grand Officer of the Order of Merit of Germany, Argentina, Austria, Belgium, Brazil, Ivory Coast, Ecuador and Yugoslavia

Awards

• Award "Policy-maker of the Year", The International Economy magazine (1991)
• Award "Zerilli Marim," Academy of Moral and Political Sciences (1999)
• International Prize "Pico della Mirandola" (2002)
• Prix Franco-allemand de la Culture (2006) - Deutsch-Französischer Kulturpreis (2006)
• Award "Policy-maker of the Year", The International Economy magazine (2007)
• Prize "Person of the Year", Financial Times (2007)
• Jean-Claude Trichet has been invested awarded an honorary doctorate from various universities

Written by Carlos Lopez on Jan. 23, 2008 0 comments
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Euribor over 3.1 percent.

Euribor continues with the bullish scaling initiated in the middle of the 2005 and in the session today it surpassed the 3.1 percent.

It did not happen almost three years ago and means, from November of 2002.The index used to calculate the more mortgages in Spain reached in the session today the 3134 percent.

A percentage point more than in the middle of year 2005, when this indicator moved around the 2.1 percent. Taking as reference the monthly payment from a mortgage of 120,000 euros to twenty years, the ascent anticipated by the Euribor in 2006 could increase in price this one in about 55 euros, when happening of 625 to 680 euros to the month.

Year to the rise The Euribor to a year broke the barrier of 3.00 percent to the first of March. The experts consider that the types of interest that fixes the ECB for the euro zone will follow the rise and, therefore, the Euribor will continue with its ascending line, finishing until 2006 between the 3.5 and 4.0 percent.

The Euribor to a year is the average interest money is lent to that the European banks Vista to 12 months, calculated daily and the average of every month is used like official reference to fix the hypothecating conditions to most of the loans to variable type in Australia . If the Prognos of the experts are fulfilled and the Euribor is located around the 3.5 percent to end of year, the monthly payment of the mortgages will raise an average of the 8 percent in 2006.

Written by Carlos Lopez on March 24, 2006 with 2 comments
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