In addition, the settlement of the debt crisis in Europe is still facing deep-seated problems World Pipe network informed, stakeholders hope that eurozone governments on the establishment of a unified Ministry of Finance to reach a binding agreement to raise funds for the entire euro area, while ensuring that Member States comply with the financial disciplines. The euro zone trying to implement the common monetary policy, but did not establish a unified financial sector, has been highly criticized for the EU member states worry about the common Treasury would infringe on the sovereignty of member states.
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France yesterday also announced its own similar bank bailout plan, the French government spokesman said that once the agreement reached by European leaders on July 21 approved the EFSF will be able to recapitalize the domestic banking system in some countries funding, but the French will not use the EFSF. The spokesman added that the shareholders of the private sector should contribute to the banking sector recapitalization, the Government will carry out the intervention only when necessary.
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Barroso also said that the recapitalization plan should consider all systemically important banks. European stability mechanism (ESM) initiated must advance from the mid-2013 to mid-2012, and called for the introduction of the ESM and the European Union budget rules with an integrated system of governance. He said that such an integrated system of governance to allow intervention to impose on a country's budget preparation and monitoring.
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affected the speech of the relevant officials in Europe also boosted market optimism, risk currencies rebounded across the board.
French cabinet approved a bill on the 12th, agreed to provide $ 45 billion bailout for Dexia. A French Ministry of Finance within the informed sources, the bill calls for France, Dexia and metropolitan France Deke Xia branch lending and bonds to buy 33 billion euros (45 billion U.S. dollars) to ensure that the funds, the interest rate will be market The interest rate shall prevail. The source also said the deposit will be mainly focused on the potential risk of structured loans, 70% borne by the French Government, and the rest borne by Deke Xia, can cover more than 500 million euros loss.
After
the European Commission on Wednesday issued a series of European bank capital restructuring proposal, the French also introduced its own detailed plan, agreed to the involvement of Greece and Southern debt crisis of the French bank to increase its reserves by the income of the state's tax and financial markets. The government aid is the last straw.
Barroso also pointed out to Greece to provide appropriate financing, must be issued in the country's sixth aid funds. The EU should agree with sufficient public and private financing of the second round of assistance programs in Greece.
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although it must be mentioned is that the prospects of the bank rescue plans, the New York Times quoted the words of French Foreign Minister Alain Juppe said, this measure means that the bank's core tier one capital, from 7% to 2013 9% or higher. The funds are funds from the euro-zone emergency assistance funds, or the French government, is still unknown. Reported that the matter is extremely sensitive in France if the French billions of euros into the bank, resulting in people worry that the country will lose the AAA credit rating, thus impeding the French President Nicolas Sarkozy successfully re-elected next year World steel pipe network editing .
Jose Manuel Barroso said as soon as possible to strengthen the banking sector level, must be completely transparent to the sovereign debt exposures taking into account the assessment of the banking sector capital; the banking sector should be the first to use private capital, if necessary, when seeking government help. If you can not get government support, recapitalization should be a European Financial Stability Fund (EFSF) loans to provide funds. During the recapitalization, the banks should not be to the payment of dividends and bonuses.
Jose Manuel Barroso said the European banking sector recapitalization should be based on the regulatory bodies for the revaluation of capital requirements, and require higher capital ratios on the basis of the assessment of bank health status.
overseas financial reports, according to Xinhua, the European Commission President Jose Manuel Barroso last night on how the European banking sector restructuring announced the proposal.
recent Greek to clear the obstacles one may lead to disorderly breach, measures to consolidate the major banks in Europe began to take shape.