Spain: the rate of low natural gas from today an average of 2.5% – ICN Journal

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The Spanish stock market closed almost flat and March appreciates 3.07 … – Univision

                                 

Madrid, Mar 31 (EFE) .- The Spanish stock market closed today’s session almost flat, with a slight fall of 0.07 percent and a variable behavior of its great values ​​and with which culminated in the month of March which has appreciated 3.07 percent.

On the first quarter, the accumulated earnings reach 12.08 percent.

With the risk premium around to 103 basis points, the IBEX 35 gauge ended the day at 11,521.10 points

In the rest of Europe, the main markets also ended down: Milan 0.44%. Paris 0.98; London and Frankfurt 1.72 0.99%.

Despite concluding red, the Spanish market started the day with gains that made him even closer to the peak it reached last week, very near 11,600 points.

A trend did not continue long time since midday trading in negative affected by banks, large values ​​and Europe.

In this way The IBEX 35, driven by profit taking, passing long by falling to 11.3% of the unemployment rate in the euro area, the lowest since May 2012.

To which themselves were attentive investors was to Greece, after yesterday the Prime Minister Alexis Tsipras, detailing in Parliament the content of the main reforms that wants to address to receive European aid, which were requested by the partners.

The European Commission has said that by the time the institutions and Greece have not reached agreement on reforms that will be applied, talks whose progress will now depend Athens.

On Friday and began the negotiations, but European partners are still waiting for further realization by the Greek government reforms that list.

Waiting for what, Wall Street opened today negatively, affected by profit taking and following the jobs data of consumer confidence, which has risen unexpectedly.

A figure even closer, the possible rise in interest rates.

Back in Spain, the main IBEX 35 posted mixed results: Repsol fell 0.63%; Telefónica 0.45; Iberdrola and BBVA 0.12 0.02; while Inditex Santander rose 0.20 to 0.49%.

Natural Gas has been the bassist value of the IBEX 35 after losing 1.97%, while DIA was the most won , 2.76%.

On this last day of March, the Spanish Stock Exchange traded almost 3,500 million euros, equivalent to about 3,780 million.

Tsipras says he will not back the reforms – Milenio.com

Tsipras had called late Sunday a debate in Parliament whose main objective was to ask the opposition a clear position on the negotiating line government.

In recent days, the conservative New Democracy, now main opposition party, had criticized the government’s strategy in the negotiations and had predicted a third rescue.

Tsipras stressed today that the reforms that proposed the Government are initiatives formulated exclusively Greece (and not creditors), because the needs of society and the economy to recover.

Prime Minister avoided going into the details of the list of reforms, but stressed that do not involve proposals that would aggravate the recession, such as wage and pension cuts or layoffs, measures the troika of the European Commission, the European Central Bank and the International Monetary Fund had demanded the previous Executive .

Among the announced reforms to boost economic recovery and improve the functioning of the state, the leader of the leftist Syriza highlighted the fight against smuggling of alcohol, snuff and oil, control of bank transactions and companies in tax havens, or special advertising tax.

Also announced increased Hacienda controls to combat high fraud in the payment of value added tax and an effective fight against labor illegal.

Tsipras said the tax amnesty that has been in place for a week to all persons and companies who repay their debts to the State Treasury has allowed raise in just seven days 100 million.

According to details leaked to the local press by the Ministry of Finance, reforms moved to Brussels called Group list will enable the State to raise additional 3,700 million euros this year.

It is basically fiscal measures and privatizations, such as the port of Piraeus and fourteen regional airports, whose partial sale will contribute, as cited leaks, income of about 1,500 million euros.

Tsipras He criticized the previous government led by the conservative Andonis Samaras have recovered only 70 million euros with a law allowing repayment in installments of tax debts, but contained numerous exceptions. The new Government has expanded the circle of people that can accommodate this law, raising all exceptions.

He also recalled that the Samarás Executive just ordered inquire about 25 Greek citizens of more than two thousand contained in the so-called “Lagarde list” of individuals with deposits in Swiss accounts suspected of evading taxes.

The now opposition leader, Samaras said that his party will support the government while negotiating seriously and exhorted him to finish quickly talks with creditors: “The longer perish but will have to pay it all,” said

The Conservative leader reminded Tsipras that the Government was elected to keep Greece in. the euro, which, he said, should not spoil. The government estimates that the above list is based are based on a primary surplus (excluding interest payments on debt) for this year of 1.5% of GDP and economic growth of 1.4%.

Greece expects green light as soon as its partners in this catalog in order to unlock at least part of the outstanding help and tackle the severe liquidity problems. In April, the State must face payments totaling 1,200 million euros in loan repayments and maturities of Treasury bills.

SAREB lost 585 million last year after making … – EntornoInteligente

Expansion / Sanitation went to cover credits transferred difficult recovery, others from bankrupt companies that were granted without legal guarantees and equity loans.

The Asset Management Company Coming from the Bank Restructuring (SAREB) lost a total of 585 million euros in 2014, seven times more than in 2013, according to data presented by its president, Jaime Echegoyen Tuesday.

This result came after a reorganization of 719 million euros, which was conducted by SAREB after consultation with the Bank of Spain. In fact, you have not performed this operation, the red of the ‘bad bank’ would have been limited to about 45 million, about half of the 80 million lost in 2013.

In this way Their losses before tax and writedowns were reduced to less than half, from 144 million in 2013-62 in 2014.

Sanitation went to cover credits transferred difficult recovery from other companies bankrupt who were granted without legal guarantees and equity loans.

Meanwhile, gross operating profit (EBITDA) was 1.103 million, “a major operational achievement,” Echegoyen said. This amount was necessary to address the financial burdens of society, which reached 1,100 million.

More revenue Regarding income, SAREB turnover by 23% over 2013, reaching 5.115 million in euros.

Of these, 78% came from retail activity, highlighting 3.129 million from interest arising from the management of loans.

The property sold by the SAREB in 2014 were approximately 15,300, which collects about 24,000 transactions of this kind in two years. By 2015, hopes to repeat the result of 2014.

Echegoyen emphasized that the company has generated in those two years some 9,300 million in revenue than 5,700 have been allocated to repay debt principal and other 2,400 to pay interest on bonds issued to fund his business.

Finally, the value of the assets of the SAREB has been reduced by two years of about 51,000 million to about 44,200 after a 2014 Echegoyen He called it “a year marked by a more buoyant economic activity”

Information Expansion .

Anticipate war powers by creating the AIIb – The Economist

The ADB Investment and Infrastructure is the Chinese government’s response to a new global economic, political and financial.

The Asian bank aims to finance the infrastructure of developing countries in that area . File Photo: Reuters

Since China announced the creation of ADB Investment and Infrastructure (AIIb, for its acronym in English) economic analysts and politicians have warned could be the start of an economic war between the two powers. China and the US, not to mention that this new bank could be used for political purposes

The truth is that in recent years China You searched more prominence in the global economic scene and has now taken an important step in the creation of AIIb.

“China is openly proposing a group of global institutions own different characteristics to existing (the Bank World and International Monetary Fund), “said Enrique Dussel, director of the Center for China-Mexico Studies, Faculty of Economics of the National Autonomous University of Mexico.

For Ambía Oliver, director of the Department of Finance Tecnológico de Monterrey, Campus Santa Fe, the new international institution is the Chinese government’s response to a new global economic, political and financial.

In addition, the new international bank already has the support important both European governments (Germany, UK, France, Italy) and some Asian countries, most notably Japan and others already analyzed your income.

With 100,000 million dollars in the bag

First of all, this bank has an authorized 100,000 million capital, of which 50,000 million will be provided by the Chinese government.

On the risk of creating this bank involves a war between powers, Ambía replied: “It will be an additional option, the IMF and the WB, but do not know exactly if it will be an opponent or an opponent. The importance is that it would give those to be investors or bidders maybe a little more attractive yields that might already exist for those who will place their resources with this bank and who will apply for a loan; requirements may be able to sue the new bank can be more lax and that could be a major advantage or attribute value “.

The specialist emphasized that this is an attractive and interesting alternative option that will New to finance renewable energy projects and major infrastructure for different countries, not only in Asia.

In this regard, Dussel agreed stating that “institutions are not competing, but focus on parallel and different “markets.

Ambía added that countries have no choice to compare with the traditional, but eventually ruled that if the government of China, as already demonstrated many shares, begins to prioritize visions of a political nature on economic court decisions within the bank is politicized.

Threat to the United States

So far, the US has said it will not join the project and, according to experts, will doubt any data to show the Chinese government on the new financial institution, this country has faced several cases makeup of numbers.

The United States “what interests strengthen the institutions that have under their charge, which is the case of the World Bank and IMF, and go to AIIb as a threat, as a new competitor who would taking away market share or subtracting some predominance who He had in recent decades “‘he said.

On the questions surrounding the creation of the new bank, Ambía stated that the main point of criticism has to do with many of the data that the Chinese control Statistical court are disrupted or made-up by the Chinese Communist Party.

He reprized the case of the Internet portal Alibaba, which caused a furore last year with its IPO, which looked attractive, but when reports growth it showed “fizzled because they realized that several of the metrics that had the Chinese in the end were not credible or real data but were makeup,” he said.

Japan would add in June: FT

The ADB Investment and Infrastructure might have to Japan as a member since June, said Masato Kitera, ambassador from Japan in China, the Financial Times (FT) <. / p>

Kitera said that has the same confidence that Japanese business leaders, who despite “reacted late” now advocate the development bank, which they see great potential to support infrastructure development plans in the region.

The diplomat warned that this move would leave the United States as the only power that would be outside the AIIb. It would also be a “reversal of rhetoric” about the troubled relationship between Japan and China.

However, the strong presence that the Japanese country remains at Asian Development Bank, which has questioned the need for a new bank, has created tensions.

A couple of weeks ago, Taro Aso, Minister of Finance, was cautious about joining the AIIb, since Japan would have to weigh tensions with the United States.

Tsipras delivery to Parliament of Greece – The Economist

Tsipras presented before Congress dots signed between Athens and its creditors on February 20 agreement and the prospects for meeting the demands of its partners to extend four months receiving international rescue Greece.

Alexis Tsipras, Prime Minister of Greece, faced a difficult debate in the Greek Parliament, around reform plan to be adopted this week for the country to get their creditors some financial oxygen.

“We seek an honest commitment to our partners. But do not expect us to sign an unconditional surrender. This is the reason why we are attacked mercilessly and is the reason why we support the society, “said Tsipras before Parliament.

Tsipras presented to Congress the points of agreement between Athens and its creditors on February 20 and prospects to meet the demands of its partners to extend four months international rescue receives Greece.

The Greek plan has been analyzed throughout the weekend by the so-called Group Brussels, composed of the International Monetary Fund (IMF), the European Central Bank (ECB), European Union (EU), the European Stability Mechanism (Mede) and Greece itself.

Tsipras said which he presented to his creditors a list of real reforms that will make Greece is a modern country and cited the fight against smuggling of cigarettes and petrol and tax fraud, but also explained the need to renegotiate the country’s debt, which reaches 177 % of Gross Domestic Product (GDP). Tsipras said that without a new covenant, the refund will be impossible.

The Greek prime minister had declared that relies on a happy negotiations on reform by the government for financial assistance end.

But the European Commission said the EU and Greece continue a “constructive negotiations” that are not yet closed.

The list of reforms proposed by Athens to receive a final tranche of 7,200 million euro loan includes an increase in the tax burden to higher salaries and measures against tax evasion and the smuggling of fuel and cigarettes, plus privatization, but maintains its public sector involvement in the companies concerned.

Bankia was solvent and faithful accounts in its debut, according to a … – euronews

Reuters, 30/03 20:15 CET

All financial information included in the prospectus Bankia its IPO reflected fairly the group, which met the solvency requirements to “almost final” in 2011, according to a new report by Ruben Manso, former inspector of the Bank of Spain. EFE / File

Madrid, March 30 ( EFE ) .- All financial information included in the prospectus Bankia its IPO reflected the true picture the group, which met the solvency requirements to “almost final” in 2011, according to a new report by Ruben Manso, former inspector of the Bank of Spain.

This expert, one of the two contracted by the Current team Bankia to clarify what happened, reaches these conclusions in a report submitted to the judge of the Audiencia Nacional Fernando Andreu and has had Efe access.

The work done, he says, can not but conclude that the financial statements of the BFA Group / Bankia should be regarded as consistent with the true picture of the economic subjects they represented.

“There is no evidence to show that the same during the period analyzed, contained errors or accounting materials in its formulation, as administrators have kept the Group endorse their auditors and supervisory authorities, “he adds.

In addition, the company founder Mansolivar stresses that the accounts that appeared in the prospectus of the IPO can be considered correct because they were either audited or reviewed by Deloitte.

The key to the market debut of the then entity chaired by Rodrigo Rato document met all the formal requirements information required by law at the time of the initial public offering ( OPS ), says this expert reputed, contrary to what is stated in court for the experts assigned by the Bank of Spain.

So much so, says the new report, the brochure IPO especially warned of the risks to which the issue of shares of the group was submitted.

However, the transaction was subject “strictly formal aspects legally required for this type of operation, paying particular attention to the characteristics and content of the prospectus and related documents to it.”

As for the participation of professional investors in the formation of the price of the IPO of Bankia, the expert recalls that was established as a guarantor of fixing a value of the company through a model concurrency.

Moreover, stresses that no limitations to the type of investor and its relationship with the issuer, nor the creation of corporate or long-term economic links were established.

For example, after studying the various purchases undertaken by investors, the new report concludes that the participation of companies refinanced loans represent “a low percentage in the order book.”

That will lets say “the existence of independence of all officers involved in the formation of prices” incident.

Manso recalls that display controller recommended that emissions of capital reconverted to collect boxes least a total of 200 qualified investors representing at least 40% of the capital.

In the IPO of Bankia such figure rose to 317 investors, of which 298 participated in the process of fixing price, and, according to the switchboards presented in the settlement of the offer, this requirement is amply fulfilled. The percentage of shares allocated to institutional investors was 45.52%

Regarding the issue price of 3.75 euros per share finally fixed, explains that was determined by “the existence of a complex economic moment for the country that determined the presence of risks arising from their economic situation as well as by pressure exerted by investors institutional “.

In its report, the expert also analyzes the post-IPO months and in no time, doubt the solvency of the group until the end of 2011.

Moreover, emphasizes that the Bank of Spain considered that Bankia would face “smooth” the maturities of 2012 and that actions contribute to a substantial improvement in liquidity in the coming years.

Finally, on the reformulation of the 2011 accounts held after the arrival of José Ignacio Goirigolzarri the group, Manso ensures that you can say they were correct because they had a favorable opinion of the board, the general meeting and endorsed by Deloitte, besides not have opposed the FROB .

euronews published from Reuters as, but not involved in the published articles.

Copyright 2015 EFE.

Bankia was solvent and faithful accounts in its debut, according to a … – Yahoo Finance Spain

Madrid, March 30 (EFE) .- All Bankia financial information included in the prospectus for its IPO reflected fairly the group, which met the solvency requirements to “almost final” in 2011, according to a new report by Ruben Manso, former inspector of the Bank of Spain.

This expert, one of the two contracted by the current team of Bankia to clarify what happened, reaches these conclusions in a report submitted to the judge of the Audiencia Nacional Fernando Andreu and has had Efe access.

The work done, he says, more can not conclude that the financial statements of Group BFA / Bankia should be regarded as consistent with the true picture of the economic subjects they represented.

“There is no evidence to show that the same during the period analyzed, containing materials or accounting errors in its formulation as managers have maintained the Group endorse their auditors and supervisory authorities, “he adds.

In addition, the company founder Mansolivar stresses that the accounts that appeared in the brochure output bag can be considered correct because they were either audited or reviewed by Deloitte.

The key to the market debut of the then entity chaired by Rodrigo Rato document met all the formal requirements of information required by law at the time of the initial public offering (PAHO), says this expert reputed, contrary to what is stated in court for the experts assigned by the Bank of Spain.

So much so, says the new report that in the brochure IPO especially warned of the risks to which the issue of shares of the group was submitted.

However, the transaction was subject “to strictly formal aspects legally required for this type of operation, paying particular attention to the characteristics and content of the prospectus and related documents to it. “

As for the participation of professional investors in the formation of price of the IPO of Bankia, the expert recalls that establishing as guarantor of fixing a value of the company through a concurrency model.

Moreover, stresses that no limitations were established the type of investor and its relationship with the issuer, nor the creation of corporate or long-term economic ties.

For example, after studying the various purchases undertaken by investors, the new report concludes that the participation of companies refinanced loans represent “a low percentage in the order book.”

This allows you to say “the existence of independence of all officers involved in the formation of price “incident.

Manso recalls that display controller recommended that capital issues of the converted boxes collect at least a total of 200 qualified investors representing at least 40% of the capital.

In the IPO of Bankia such figure rose to 317 investors, of which 298 participated in the process of pricing, and, according to the switchboards presented in the settlement of the offer This shall be achieved perfectly. the percentage of shares allocated to institutional investors was 45.52%

With regard to the issue price of 3.75 euros per share finally fixed, explains that was determined by “the existence of a complex economic moment for the country that determined the presence of risks arising from their economic situation as well as by pressure exerted by institutional investors.”

In its report, the expert also analyzes post-IPO months and in no time, doubt the solvency of the group until the end of 2011.

Moreover, emphasizes that the Bank of Spain considered that Bankia would face “smooth” the maturities of 2012 and that actions contribute to a substantial improvement in liquidity in the coming years.

Finally, on the reformulation of the 2011 accounts held after the arrival of José Ignacio Goirigolzarri to group, Manso ensures that you can say they were correct because they had a favorable opinion of the board, the general meeting and endorsed by Deloitte, besides not having opposition FROB

.

European shares rising – Strategy

EUROPEAN OPEN TOTE

6:59

bags Spain, Paris, Milan, London and Frankfurt opened the day with gains, with the German’s headed.

The Spanish stock market began the session with gains and its main indicator, the IBEX 35, rose 0.27% and stood at 11,458 units.

Moreover, the Paris Bourse opened higher today and its main indicator, the CAC-40 rose 0.26% and stood at 5046.98 points.

Likewise, the Milan Stock Exchange opened higher today and selective index, FTSE MIB, was up 0.15% and stood at 23,019.40 points.

The overall index , FTSE Italia All-Share, also gained 0.18% and stood at 24,576.37 points.

In the same line, the London Stock Exchange also rose in opening today and its main index, the FTSE-100, rose 34.07 points, or 0.50%, and stood at 6889.09 integers.

Finally, the Frankfurt Stock Exchange (Germany) opened today rise and DAX 30 index moved in the early stages of negotiation 0.70% to 11,951.62 points.

Spanish economy will grow 2.5% over five years – AnsaLatina.com

MADRID, 30 (ANSA) – The Spanish government expects the country’s average growth of 2.5% for five years, said Today’s Economy Minister Luis de Guindos.
“They put the bases and if not make mistakes, Spain can return to the levels of prosperity before the crisis, and grow in the coming years around 2 5% annual growth ensured a period of five years “,” Guindos, who confirmed said. “
The minister said that the economy will grow by 0.8% in the first quarter and expects throughout the year progress is between 2.5% and 3%, in line with forecasts of Spanish and international institutions.
The minister said Spain is an example of how a European country in 2012 was ” Rescue edge “can turn completely around its economy. Guindos also estimated that unemployment figures for the first quarter, currently the unemployment rate is 24% – will be “positive”. It would, he said, “a very positive indicator of the Spanish economy.” (ANSA). UR-FM / MRZ
03/30/2015 16:58

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The Spanish inflation reduces its fall in March – Investing.com Spain

MADRID (Reuters) – The Index of Consumer Prices (IPC) Spanish advance recorded its ninth consecutive decline in March, but the decline was reduced by four tenths at an annual rate of – 0.7 by the rise in fuel prices, according to data released Monday by the National Statistics Institute.

“This indicator provides a preview of IPC which, if confirmed, would imply an increase four tenths in the annual rate, since in February this change was -1.1%, “said INE.

Meanwhile, the EU harmonized inflation stood at one five tenths better than the -1.2 percent recorded in February annual rate of -0.7 percent year in March, and two tenths better than expected data for March (-0.9 percent) by economists polled by Reuters

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De Guindos expects the GDP to grow by around 0.8% in the first … – Terra Colombia

The Spanish Economy Minister Luis de Guindos said Monday that the country’s Gross Domestic Product would have grown around 0.8 percent in the first quarter, and for the whole of 2015 the Spanish economy would increase from 2.5 to 3 percent.

The Spanish Economy Minister Luis de Guindos said Monday that the country’s Gross Domestic Product would have grown around 0.8 percent in the first quarter, and for all 2015 the Spanish economy would increase from 2.5 to 3 percent. In the picture, the minister during an interview with Reuters on March 4 in Madrid.

Photo: Andrea Comas / Reuters

De Guindos said the Government submitted in late April to Brussels economic projections, and that the March unemployment data – that the minister expects positive – would be a key factor to adjust the projections.

In the economic forum Five Days in Madrid, the economy minister said that policy of the European Central Bank will have a positive impact is already noticeable in inflation expectations in the eurozone.

De Guindos anticipates that employment data in March will be … – euronews

Reuters, 30/03 10:57 CET

The Minister of Economy and Competitiveness, Luis de Guindos. EFE / File

Madrid, March 30 ( EFE ) .- The Economy Minister Luis de Guindos, said today he expects both data unemployment and Social Security affiliation of March as the whole quarter will be “positive”.

De Guindos has made this estimate during his speech at the Forum Five Days, which explained that the government will present in late April stability program, which will include economic growth forecast, a figure that until then will “refine”.

It reiterated that the growth of the Spanish economy for 2015, It will be between 2.5% and 3%, in line with forecasts already made by the various Spanish and international institutions.

euronews from Reuters as published, but is not involved in the published articles.

Copyright 2015 EFE.

Wolf: “Reject the Asian investment bank is foolish” – The Trade

Martin Wolf / chief economic commentator of the Financial Times

Britain has angered US choosing a founding member of an institution which some see as the Chinese equivalent of the World Bank. But this does not mean that the decision is wrong. On the contrary, it is sensible – but not without risks.

The Asian Infrastructure Investment (AIIb, for its acronym in English) will finance infrastructure in developing countries of Asia. AIIb have an initial capital of US $ 50 billion, which may increase to US $ 100 billion. Although China is the largest shareholder, many other Asian countries are entering. (The participation of non-Asian members is limited to 25 percent of the shares).

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Other European countries such as Germany and Italy, have decided to submit his application; Australia, Japan and South Korea are still undecided.

The new institution is potentially valuable. The developing countries of Asia, as in many other places, have an urgent need for investment in the field of infrastructure. Private financing of risky projects and long-term is too expensive or unavailable. The resources of the World Bank and the Asian Development Bank (ADB, for its acronym in English) are very deficient in relation to need.

Therefore, the fact that China want to invest a small portion of its $ 3.8 trillion in foreign exchange reserves in the AIIb is good news. That wants to do through multilateral institutions, in which his voice, though loud, be one among many, is even better. A multilateral institution will have a global staff, which would be less politicized if China provide the money directly.

USA. DECIDES NOT

For all these reasons, USA should also be part of AIIb. Maybe the White House responds that although you love to do, has no chance of getting approval of the current Congress. That may be true. But it’s not a valid argument against the participation of other countries.

However, USA has an argument, even disconcerting. Western countries, he argues, may have more influence on the institution to not be part of it. That says a US official, would be better than “incorporated at a time during which they can not rely on China not retain the powers of veto”. But who are ‘out’ will have no influence on the institution not need your money. The only hope of having influence is from the inside. True, it would have been better if the Europeans had agreed to the entry requirements. But it’s too late for that.

Jack Lew, secretary of the US Treasury has expressed concerns from the American perspective of the Asian bank not give the size in terms of the “highest global standards” regarding the governance or loans. As a former staff member of the World Bank, I smile. Lew would be interesting to study the role of the bank in financing Mobutu Sese Seko of Zaire, a gruesome example among many.

US. Nor can submit any credible arguments about competition with existing institutions. Yes, there is a risk of observing a race to the bottom in terms of standards. But there is also a possibility that unnecessary bureaucracy is removed. The real American concern is that China establish institutions that undermine their influence in the global economy. In this regard, I offer four answers.

First, the US, Europe and Japan hoard have a degree of influence in global financial institutions is increasingly out of line with his position in the world. Moreover, they have not handled such influence as they should have. And besides, they have insisted on the right to appoint leaders who have been far from excellent.

Second, five years have passed since the leading countries of the Group of 20 (G-20) agreed new quotas that would moderate his enormous influence in the International Monetary Fund (IMF). The world is waiting for the US Congress to ratify the changes. This is an abdication of responsibility.

 Thirdly, the world economy would benefit from increased flows of long-term capital to developing countries.

It also benefit from a fund from which larger sure the IMF can provide prone countries “sudden stops” in capital flows. Foreign exchange reserves have increased to nearly US $ 12 billion, from less than US $ 2 billion at the beginning of the millennium, dwarfing IMF resources of less than US $ 1 trillion. This indicates the magnitude of the deficit. The capital from China could put the world in the right direction. That would be an excellent achievement.

Lastly, USA criticizes the UK for its “constant accommodation” of the emerging superpower. But the alternative accommodation is conflict. Economic growth in China is beneficial and inevitable. What is needed, therefore, is an ideal accommodation. When China offers proposals that make sense for their country and for the world, participating is more sensible to criticize from the outside. A former US official once asked China to be a “responsible citizen”. With the creation of AIIb, this is precisely what you are doing.

Therefore, the focus of the UK and other European allies is to be applauded. Moreover, the decision of the UK joining the AIIb could even represent a beneficial shock to US

Yes, it is desirable that countries with similar interests and values, such as Britain and the US , May make statements and act in unison. And yes, the UK is risking follow a different from its main international partner address. But support should not be subservient. That has proven not to be beneficial to anyone.

On the other hand, if the choice of Britain made clear to lawmakers US leadership is not a right but an honor that has to be earned, the decision could prove beneficial. In the years after World War II, in a moment of lucidity, USA created the institutions of the modern world. But the world has changed.

new institutions are needed. The world must accommodate growth of new powers. It will not stop just because the US can no longer participate. If the results are not like US, you can only blame yourself.

SPAIN: The Euribor at historic lows, reduce mortgages … – EntornoInteligente

ABC of Spain 2 / pumping liquidity from the European Central Bank begins to have its impact on the pocket. The twelve-month Euribor, the most used for calculating mortgages, March indicator closed at a record low 0.2% to turnover, which will lower the mortgage agreed in one year to be reviewed in April at about 200 euros a year ago.

With two days to the end of the month, and after setting a record low on Friday diary below 0.2% (0.199%), this indicator makes a provisional monthly average of 0.214%, the lowest in its just under fifteen years of history.

And as a year ago, in March 2014 the Euribor stood at 0.577%, three tenths above its current rate, an average mortgage of about 100,000 euros with a repayment term of 25 years would pay 358.03 to 341.76 euros per month, representing a discount of 16.27 euros per month, nearly 200 a year.

In February Euribor fell to 0.256% and until then the lowest rate in its history and for the second consecutive month below 0.3%, while in March now will stay on the edge of drill 0.2%.

Back in February rebate for mortgages underwritten previous year was around 200 euros, albeit with significant differences between regions, since the average amount of mortgages varies from one region to another.

So, mortgages increased level rises Euribor suffer greater extent than the smallest, but also benefit from greater discounts when low indicator.

Benefits autonomy Specifically, February were families with mortgages in Madrid and Balearic benefit most from the fall of Euribor, with discounts of around 200 per year, while the Canaries and Murcia noticed discount of just over 100 per year.

The Euribor, calculated by the European Banking Federation with the data of the main entities of the euro area, actually shows the price of money to a year in the European interbank market, but it is the principal reference variable rate mortgage.

The evolution of the indicator depends on the ups and downs of types approved by the European Central Bank (ECB), which at its meeting last September reduced interest rates to record low of 0.05% something that has not changed since.

You have to go back to July 2008 to find the record high of Euribor, which was 5.393%, and from that moment took a downward trajectory that stopped in 2010 and resumed in mid-2011

Information ABC of Spain 2

The milk enters the free market in Eurozone – EntornoInteligente

Portfolio / The objective of the change, according to the European Commission is allowing producers to meet growing global demand for dairy products and compete against third countries, particularly in Asian markets, where it is estimated that over consumption will increase in the coming years.

“For the first time in thirty years, producers will respond only to market forces,” he said this week the European Commissioner for Agriculture, Phil Hogan, who explained that the liberalization of the system is both “a challenge and an opportunity for the EU”.

The Commissioner has indicated that sees the change with “optimism” by the possibilities “in terms of growth and employment “at a time when global demand for dairy products is growing by an average of 2% a year.

For European producers, represented by the Committee of Agricultural Organisations and Community Cooperatives ( Copa-Cogeca), in this new phase the EU should provide them the tools to respond to price volatility tools.

“Although the European regulatory framework already includes market measures that can help protect producers against volatility, such as public intervention and private storage, these are no longer a real safety net (…) in times of great market imbalances, “the secretary general of Copa-Cogeca, Pekka said in a statement Pesonen.

The transition to the new regime, which no catches producers by surprise as it was agreed at European level in 2003, will require the sector to adapt to new circumstances and a change of mentality.

“That was a precious commodity because it is required to produce, that so much effort and investment has cost us, as of March 31 is not worth anything, which is paradoxical and dilapidated, since the Money invested in share has not allowed to do other things, “says a report Livestock responsible for the agricultural organization UPA, Román Santalla.

The same organization recognizes that exists in Spain” dairy value chain very unbalanced, often engaged in making him a hard time losing value to the lower links “and adds that” this situation has to change in the future. “

” The farmers and dairies are needed and rather than hurt us should join efforts in a bid to a national dairy farmer sector, a powerful, modern and diversified dairy industry and creating value along the chain. “

The same organization also encouraged to imitate the countries of Central Europe, where “have built factories of industrial dairy products to meet the growing demand for dairy products on world markets.”

Facing fears of farmers, Agriculture Commissioner stresses that “the circumstances are very different now to 1984″, when he began the quota system after an interventional system helps producers, especially in the late ’70s and early’ 80, shot milk surpluses and government spending.

“We are now competitive market prices globally, interventionism is at a level that discourages production surpluses and can export 11 % of our milk production without any subsidies, “said Hogan.

The initial objective of quotas, introduced in 1984, was to limit government spending and control production, thus stabilizing prices and producer incomes.

It also helped maintain activity in the less competitive regions, they now feel particularly threatened with the new regime, although it provides specific support measures, for example for producers in areas mountainous and difficult to access.

Although milk quotas would last in the top five, his removal was delayed until the final decision was made in 2003 and a period was provided until 2015 to allow farmers a “soft landing” in the new system

EFE

– & gt.; The purpose of the change, according to the European Commission, is to allow producers to respond to the growing global demand for dairy products and compete against third countries, particularly in Asian markets, where it is estimated that over consumption will increase in the coming years.

“For the first time in thirty years, producers will respond only to market forces,” he said this week the European Commissioner for Agriculture, Phil Hogan, who explained that the liberalization of the system is both ” a challenge and an opportunity for the EU “.

The Commissioner has indicated that sees the change with” optimism “by the possibilities” in terms of growth and employment “at a time when the Global demand for dairy products is growing by an average of 2% a year.

For European producers, represented by the Committee of Agricultural Organisations and Community Cooperatives (Copa-Cogeca), in this new phase the EU should facilitate the tools necessary to respond to price volatility.

“Although the European regulatory framework already includes market measures that can help protect producers against volatility, such as public intervention and private storage These are no longer a real safety net (…) in times of great market imbalances, “the secretary general of Copa-Cogeca, Pekka Pesonen.

said in a statement The transition to the new regime, which no catches producers by surprise since it was agreed at European level in 2003, will require the sector to adapt to new circumstances and a change of mentality.

“That was a precious commodity, because they are required to produce, that so much effort and investment has cost us, from March 31 is not worth anything, which is paradoxical and dilapidated, since the money invested in share has not allowed to do other things, “says a report of the head of Livestock of the agricultural organization UPA, Román Santalla.

The same organization recognizes that exists in Spain “a chain of very unbalanced dairy value, determined on many occasions lose value by making him go bad the lower links “and adds that” this situation has to change in the future. “

” The farmers and dairies are needed and instead of hurt should join efforts in a bid for national dairy farmer sector, a powerful, modern and diversified dairy industry and creating value along the chain. “

The same organization also encouraged to imitate the Central European countries where “have built factories of industrial dairy products to meet the growing demand for milk in global markets.”

Facing fears of farmers, Agriculture Commissioner stresses that “the circumstances are very different now to 1984 “, when he began the quota system after an interventional system helps producers, especially in the late 70s and early 80s, shot milk surpluses and government spending.

“We are now competitive market prices globally, interventionism is at a level that discourages production surpluses and can export 11% of our milk production without any subsidies” according to Hogan.

The initial objective of quotas, introduced in 1984, was to limit government spending and control production, thus stabilizing prices and incomes of farmers.

Also helped to maintain activity in the less competitive regions, they now feel particularly threatened by the new regime, although it provides specific support measures, eg for farmers in mountainous areas or difficult to access.

Although milk quotas would last in principle five years, its removal was delayed until the final decision was made in 2003 and a period was provided until 2015 to allow farmers a “soft landing” in the new system.

EFE

Information Portfolio

EBIT useful to complement global financial order tool – Internet Information Center of China

• Editor
• 3/30/2015 4:25:00 / agency Xinhua

http://spanish.china.org.cn/economic/txt/2015-03/30/content_35188268.htmspanish.china.org.cnLos China’s efforts to help create the Bank Asi & aacute; tico of Inversi & oacute; n Infrastructure (EBIT) symbolize the new m & uacute; financial muscle of the region & oacute; n and China itself, indic & oacute; today espa & ntilde expert; ol 30/03/2015 04: 25: 00.0 Espa & ntilde; a, EBIT. , Order, Finance agency xinhua10067032543Economía/enpproperty–>

China’s efforts to help create the Asian Infrastructure Investment (EBIT) symbolize the new financial muscle of the region and China itself, a Spanish expert said today <. / p>

The EBIT is a useful complement the global financial order tool because it provides mechanisms for the transfer of the global weight of the economies of the region to other areas, said Xulio Ríos, director of the Observatory of Chinese Politics.

The bank is a great opportunity for European companies, which helps explain why the governments of Switzerland, United Kingdom, Germany, France, Italy and Luxembourg withstood initial US pressure to boycott the initiative and instead expressed their willingness to be members of the bank, according to Rivers.

The establishment of EBIT could help reduce US influence in Asia, Rios said adding that the firm control of United States at the International Monetary Fund and the Asian Development Bank will not be enough to curb China.

Rivers believes that voting systems in some international financial organizations have become obsolete and added that the reforms remain viable because of opposition from the United States.

The next step aimed at further liberalization of the yuan and its exchange rate, according to the Spanish expert.

The EBIT represents a major challenge to the presence of Japan and the US in the region, as well as an imminent institutional renewal internationally.

The bank may become an important geostrategic tool, linked to other projects such as the development initiatives of the Economic Belt of the Silk Road and the Maritime Silk Road of XXI Century, Rivers said, adding that such projects will decide the rise of new economic realities that do not depend on the West said. F

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EU ends after thirty years quota system … – Yahoo Finance Spain

Brussels, Mar 29 (EFE) .- The European Union (EU) will end next March 31, after thirty years, the regime of milk quotas, giving way to a new scene that opens opportunities for the sector, but also poses threats.

The purpose of the change, according to the European Commission is allowing producers to meet growing Global demand for dairy products and compete against third countries, particularly in Asian markets, where it is estimated that over consumption will increase in the coming years.

“For the first time in thirty years, producers only respond to market forces, “he said this week the European Commissioner for Agriculture, Phil Hogan, who explained that the liberalization of the system is both” a challenge and an opportunity for the EU “.

Commissioner has indicated that sees the change with “optimism” by the possibilities “in terms of growth and employment”, at a time when global demand for dairy products is growing by an average of 2% a year.

For European producers, represented by the Committee of Agricultural Organisations and Community Cooperatives (Copa-Cogeca), in this new phase the EU should provide them the tools to respond to price volatility tools.

“Although the European regulatory framework already includes market measures that can help protect producers against volatility, such as public intervention and private storage, these are no longer a real safety net (…) in times of great market imbalances, “the secretary general of Copa-Cogeca, Pekka Pesonen said in a statement.

The transition to the new regime, which no catches producers by surprise as it was agreed at European level in 2003 will require the sector to adapt to new circumstances and a change of mentality.

“That was a precious commodity because it is required to produce, that so much effort and investment has cost us, from March 31 is not worth anything, which is paradoxical and dilapidated, since the money invested in share has not allowed to do other things, “says a report by the responsible Livestock of the agricultural organization UPA, Román Santalla, who had EFE.

access the same organization recognizes that exists in Spain “a chain of very unbalanced dairy value, determined on many occasions in value by making him a hard time losing the lower links” and adds that “this situation is to change in the future. “

” The farmers and dairies are needed and instead of hurt should join efforts in a bid for a national dairy farmer sector, a powerful dairy industry, modern diversified and value creation along the chain. “

The same organization also encouraged to imitate the countries of Central Europe, where” have built factories of industrial dairy products to meet the increasing demand for dairy products on world markets. “

Facing fears of farmers, Agriculture Commissioner stresses that” the circumstances are very different now to 1984 “, when he began regime shares, after an interventional system helps producers, especially in the late 70s and early 80s, shot milk surpluses and government spending.

“We are now competitive in Prices markets globally, interventionism is at a level that discourages production surpluses and can export 11% of our milk production without any subsidies, “said Hogan.

The goal Initial quotas, introduced in 1984, was to limit government spending and control production, thus stabilizing prices and incomes of farmers.

It also helped maintain activity in the less competitive regions, now feel particularly threatened by the new regime, although it provides specific support measures, eg for farmers in mountainous areas or difficult to access.

Although milk quotas would last in the top five, their removal was delayed until the final decision was made in 2003 and 2015 period was provided to allow farmers a “soft landing” in the new system.

HSBC warning of the risk of political fragmentation in Spain by … – Yahoo Finance Spain

The bank believes that the Spanish general election is the most important event in late 2015 in the euro area

MADRID, 29 (EUROPA PRESS)

The British bank HSBC has warned of the risks they may pose elevated parliamentary fragmentation arising in the next general elections in Spain due to the rise of “radical left” party we and the “reformist” Citizens.

In its quarterly report on the European economy, the company emphasizes that political uncertainty will be the focus in Spain in 2015, beginning with the Catalan elections of September 27 and concluding with the broad end of the year in which the surveys provide almost a tie between PP, PSOE, Citizen and able.

“This uncertainty could cause a cooling of momentum in consumption and lead to a slowdown in capital inflows from abroad and direct investment, which can be a source of concern given the high external debt of Spain “alert.

The company believes that the general elections in Spain the year end are” the most important event Eurozone “in late 2015, as it is increasingly likely that an increasingly fragmented electorate, the two major traditional parties do not form the next government.

In this sense, stresses that the main new party emerged in Spain, we, has left him a new competitor in Citizens. “High unemployment, especially among young people, and greater inequality are factors contributing to the popularity of the new parties, together with the corruption in the political system,” he added.

So says it is no surprise that new parties, especially we, have gained the support of many young people who vote for the first time or those who abstained in previous elections.

For Citizens, considered which is a less radical party led training Pablo Iglesias and stresses that it has achieved the support of the electorate in the center and, unlike Can, mainly at the expense of the Popular Party.

WITHOUT PARLIAMENTARY MAJORITY.

“Whatever the outcome of the elections, the increasing fragmentation of the electorate increases the likelihood that any party may have a majority in a new parliament,” remarks the British bank.

In his opinion, this would make it difficult for any party to address some of the most important problems facing Spain, and the need to rebalance its economy towards a model of export-led growth, reduce deficits and lower still high long-term unemployment.

As for Catalonia, notes that surveys indicate that CiU and ERC will not achieve an absolute majority in the elections of September, but uncertainty still remains high and the parties to vote for independence could force the central government to take this issue more seriously.

OUTSTANDING ISSUES.

On the other hand, HSBC remember that Spain is one of the countries where inequality has increased during the crisis and the government of Mariano Rajoy has announced measures to address this problem, including tax exemptions.

However, he adds that the lack of fiscal space limits the capacity for action of the Executive, as despite the support of revenues increased growth, Spain will default the deficit targets. “This means that after the elections the new government will have to introduce more measures to cut the deficit,” he added.

Another key challenges for the Spanish economy is to maintain the downward trend in unemployment, since there are more than three million long-term unemployed and their reduction will be more difficult than before the crisis, when it was supported by the construction and public employment.

CONFIRMS FORECASTS.

The British company has remained unchanged growth forecasts made in December, as estimated Gross Domestic Product (GDP) of Spain Product will increase by 2.1% this year, then slowed to 1, 8% in 2016.

In this regard, stressed that 2015 saw a “strong start” in line with the performance of the economy in the fourth quarter of 2014. In particular, it highlights the rise in retail sales and signs of recovery in output.

HSBC expected consumption growth to remain strong while inflation remains in negative territory and unemployment continues to fall. Also, will also contribute to the availability of credit growth and return on investment, including in the residential sector, where prices seem to have bottomed out.

However, stresses that the weak industrial production remains a source of concern, since good figure for January was mainly due to energy production by the weather. In addition, the weak global demand will continue to weigh on exports, which will be supported by a weaker euro.

In this context, expects growth to slow in 2016 to see limited potential upside by structural factors : a probable stabilization of savings ratios, high structural unemployment and foreign debt. Furthermore, the need for additional fiscal adjustments also will weigh the economy next year

.

Brazil agrees to be a member of ADB Investment – LaRepública.pe

The Brazilian government announced that it will be part of ADB investments in infrastructure (AIIb) who was invited by the Chinese government and will be one of its founding members.

“The president Dilma Rousseff announced (…) Brazil has every interest in participating in this initiative, which aims to secure financing for infrastructure projects in the Asian region, “the statement released by the Presidency of Brazil.

The brief letter does not specify, however, how much to invest Brazil in this new bank not participating in the United States.

Brazil will be part of the Asian Investment Bank … – El Nuevo Diario

The Brazilian government announced that it will be part of ADB Infrastructure Investment (AIIb, for its acronym in English) to which he was invited by the Chinese government and will be one of its founding members.

“President Dilma Rousseff announced (…) Brazil has every interest in participating in this initiative, which aims to secure financing for infrastructure projects in the Asian region,” the statement released by the Presidency .

The brief letter does not specify, however, how much to invest in this new Brazilian bank where the United States is not involved.

 The AIIb has an initial capital of US $ 50,000 million and already has the participation of 30 countries, among them Germany, France, Britain and Italy.

Blessing IMF

 The initiative of the Chinese government received this week, also the blessing of the IMF Managing Director, Christine Lagarde.

The Asian Investment, which must formally take office before the end of the year, has generated suspicion in Japan and the US, which controls the World Bank and the ADB, based in Manila.

China is since 2009 the main trading partner of Brazil, while the largest country in South America is the fourth destination of Chinese investment, which accumulated a total of US $ 78.000 billion between 2007-2013, as Brazil-China Chamber.

Faine and Garmendia enter the council Natural Gas – EntornoInteligente

ENTORNOINTELIGENTE.COM / The Public Ministry achieved deprivation of liberty for the Ecuadorian Janeth Carmen Briones, who was arrested last Wednesday March 25 by simulating the abduction of his son in exchange for money.
 
 Presentation at the hearing, prosecutors 29th, 59th and 97th (with jurisdiction in Family Protection), Carlos Medina, Francis Avila and Daniel Gomez, respectively Briones charged for alleged offenses simulation of abduction, dissemination misinformation and conspiracy.
 
 In that sense, at the request of the prosecutor, the 10th Court of the Metropolitan Area of ​​Caracas issued the order of arrest against women and set a place of detention the National Institute of Feminine Orientation, Los Teques.
 
 According to preliminary investigation, said day, the Ecuadorian reported to the Public Ministry that three people moving in a green van with no license plates, threatened with a punch and snatched her four year old son, on his way to school Lya Imber Coronil in the municipality of Chacao.
 
 Once the investigation was initiated and prosecutors, the school principal and the spouse of the complainant at school were found, they realized that it was a false fact invented by women.
 
 In view of the situation, Briones was arrested and taken to the headquarters of the Scientific, Penal and Criminal in Chacao, where after questioning he admitted that he had been paid to make a scandal at the media, schools and other spaces.
 
 Subsequently, we conducted a body search of women, procedure during which they seized 17,000 bolivars in cash, which was presumably part of the payment.

With Information ENTORNOINTELIGENTE.COM

www.entornointeligente.com

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SPAIN: The troika not believe that Greece achieved this year surplus … – EntornoInteligente

ABC of Spain 2 / The troika ruled that Greece will be able to generate this year a primary surplus in the general budgets against initially planned, so the country you may need additional aid of up to 30,000 million euros or even more, today publishes the weekly “Der Spiegel”.

It was initially planned that the surplus of income over expenditure Newco interest-apart outside the 3% of GDP Gross domestic. “Of this there will be nothing left,” cites the weekly circles of the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF).

The slowdown in reforms in Greece since the inauguration of Prime Minister Alexis Tsipras, sharpens financial situation, he adds. Experts estimate an additional hole between 10,000 and 20,000 million euros.

This sum should be compensated in a third package of financial assistance to Greece, whose volume could exceed 30,000 million euros, says “Der Spiegel”. Meanwhile, the Greek government announced in Brussels and probably can not meet its financial obligations shortly.

Reduced quality Greek debt The risk rating agency Fitch lowered the quality of Greek long-term debt from “B” to “CCC”, and short-term solvency of “B” to ” C “by the increasing difficulties of access to markets and uncertain prospects for an Early rescue. According to the agency said in a statement, assessment roof is set to “B-” from “BB”.

The downgrade also due to the narrow confines of the domestic banking sector liquidity “have been under pressure extreme “financing of the Greek state. Due to the reduction in investment and consumption and because of the outflow of deposits the nascent economic recovery has deteriorated damage that will take time to be corrected even if successfully complete the program of reforms, says Fitch.

The agency r evisó its forecast for economic growth this year to 0.5% from 1.5% still expected in January, or 2.5% in December. Fitch believes that Greece and its creditors finally achieved a compromise that will allow the disbursement of the outstanding assistance, but considers that the slow pace of negotiations forecast that the first payments will not occur before the end of April.

Information ABC of Spain 2