Monday begins the fifth and last visit to Spain Troika to review the progress of the country assistance program . The
arrival of the representatives of the creditors of the rescue - the
European Commission, the European Central Bank and the International
Monetary Fund comes just a fortnight after the finance ministers of the
euro area , the Eurogroup , would support the end of Spanish banking bailout in January, a "clean" , ie , output does not need extensions.
Spain has finally used 41,300 million euros to recapitalize and restructure its banking sector, 100,000 million at his disposal in the credit line granted by their community partners in July 2012. While acknowledging that Spain does not need more aid , the Eurogroup urged the Government to maintain the reform momentum and warned that the situation in the financial sector is still fragile. The troika , meanwhile , put the emphasis on the problems to revive credit, which remains minimal and low .
The finance ministers of the euro area in a joint statement at the end of their meeting, said that they were fully supporting the decision of not to request any further financial assistance from the European Stability Mechanism.
At its next meeting , on 22 November, the Eurogroup asked Spain to concrete pending reforms and announced a "second round" of labor market reform , while the European Commission amounted to 2,500 million euros structural effort will to do the country to meet the deficit target in 2014.Opinion marketsFor the Spanish Economy Minister Luis de Guindos , the end of the aid program " is good news , not only for the Spanish banking system, but also for the Spanish and European economy , and here are the basis for recovery the Spanish economy. "
He said that after the assistance program , the markets will see much stronger , thinner and firmer than it was a year and a half ago and neither Spanish banking provides "no further need of capital."In fact , last Friday , Standard & Poor's raised the outlook for the Spanish sovereign debt from negative to stable, improved external position and the gradual resumption of economic growth , while maintaining its rating on BBB-/A-3 ' acceptable average quality within the investment grade.
Spain has finally used 41,300 million euros to recapitalize and restructure its banking sector, 100,000 million at his disposal in the credit line granted by their community partners in July 2012. While acknowledging that Spain does not need more aid , the Eurogroup urged the Government to maintain the reform momentum and warned that the situation in the financial sector is still fragile. The troika , meanwhile , put the emphasis on the problems to revive credit, which remains minimal and low .
The finance ministers of the euro area in a joint statement at the end of their meeting, said that they were fully supporting the decision of not to request any further financial assistance from the European Stability Mechanism.
At its next meeting , on 22 November, the Eurogroup asked Spain to concrete pending reforms and announced a "second round" of labor market reform , while the European Commission amounted to 2,500 million euros structural effort will to do the country to meet the deficit target in 2014.Opinion marketsFor the Spanish Economy Minister Luis de Guindos , the end of the aid program " is good news , not only for the Spanish banking system, but also for the Spanish and European economy , and here are the basis for recovery the Spanish economy. "
He said that after the assistance program , the markets will see much stronger , thinner and firmer than it was a year and a half ago and neither Spanish banking provides "no further need of capital."In fact , last Friday , Standard & Poor's raised the outlook for the Spanish sovereign debt from negative to stable, improved external position and the gradual resumption of economic growth , while maintaining its rating on BBB-/A-3 ' acceptable average quality within the investment grade.
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