Spain has requested the bailout of Spanish banks, due to, among others, the crisis of Banks.

The ghost has been planando rescue after learning about Spain’s financial hole Banks and the general situation of a bank hit hard by the crisis and the bursting of the housing bubble. Finally, Spain has been forced, after pressure from European leaders to ask the bank rescue.

Bailout of Spanish banks

The situation of Spanish banks led Spain to need a bailout. After a Eurogroup meeting via teleconference, and after considering the IMF data on the financial situation of Spanish banks, several European countries have pressured Spain to solicit the ransom, but limited to the bank bailout, unlike what happened in Greece, Portugal or Ireland. The IMF has spoken to more than 40,000 million Euros in order to revive the Spanish banks, but the rescue has asked Spain may be around 100,000 million Euros.

Banks crisis

One of the keys to understanding the need to bailout banks Banks found in Spanish. The result of the union of several savings banks, including two of the most affected by the crisis of the brick: Bancaja and Caja Madrid. After the results of 2011 closed with benefits, states that there is a gaping hole that requires state intervention. Rodrigo Rato resigns, and is replaced by Jose Ignacio Goirigolzarri. Initially it speaks of a need for recapitalization of 4,000 million Euros, but finally gives a figure of about 25,000 million Euros to rescue Banks. Stocks plummet, and Spain is about the necessity of the bailout by the EU.

bailout-bank

Disagree with Perez Rubalcaba

Alfredo Perez Rubalcaba, PSOE general secretary, has expressed concern about the consequences of the bailout of the banks and the implications for Spanish citizens. So stated the following to prime minister: ” they will not pay for the sins and that public money is provided to the bank must return to the public purse. ”

Differences between Spain and previous bailouts

They wanted to establish a number of key differences between the cases of Greece, Ireland and Portugal, which was a bailout of the economy of the different countries, and the case of Spain, which is a limited rescue banks. Bear in mind that in recent weeks, the Spanish government denied the possibility of a bailout for the banks, which finally occurred.

Press conference with the Minister of Economy

The Economy Minister Luis de Guindos, has conducted a press conference to explain the manner and conditions of redemption. So, has stated: “There will be consolidation plans and restructuring entities logically be helped and divestitures. FROB The loan is the borrowing now in better condition than before and, since there is injected to the banks.” Luis de Guindos has made ​​clear that the bailout is not a bailout for the Spanish economy, but without ever using the word rescue aid for Spanish banks through the FROB. Some have criticized the media from the non-presence of the Prime Minister, Mariano Rajoy in this hearing to explain the details of the rescue to Spanish banks, while it is planned attendance at football match Spain in the European Championship in Poland .