Brussels' conditions for Catalunya Caixa, Novagalicia and Banco de

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Valencia create a 'bad bank paralyze auctions and not sell until a price is reached to recover the capital injected Brussels is not willing to see the rescue of Spanish banks go to waste. And that condition points directly to Catalunya Caixa, Novagalicia and Banco de Valencia. He has ordered the auctions to be paralyzed until the three entities are healthy and can be sold at a price that allows most of the money injected by the Eurogroup to be recovered. As El Confidencial Digital has learned from financial sources, the community authorities do not welcome the injection of a large amount of public money into the nationalized entities , and then their sale at a bargain price , as has happened with Unimm al BBVA or CAM to Banco Sabadell.

We have to create a bad bank The Eurogroup's demand is clear. If European money is injected into the funds now in the hands of the FROB , that is, Catalunya Caixa , Novagalicia and Banco de Valencia , the toxic assets have to be off the balance sheets. And that involves the inevitable condition of creating a 'bad bank' to clean up Middle East Mobile Number List the balance sheet of these entities, which until now Minister Luis de Guindos has opposed. Brussels' mandate to the State is that it has the obligation to clean them up first if it wants to receive European aid . The threat of liquidation Government sources, consulted by ECD , insist that no entity is going to be liquidated because it is much more expensive than selling it.



The option that De Guindos defends , in the negotiation that is now open with Brussels , is to inject capital into them and leave them in the hands of the State for as long as necessary until at least part of the injected capital can be recovered .They have limited themselves to stating that the meetings are “many” , but it is not known with whom, nor when they occur, nor, of course, with what specific objectives . Even, when asked by journalists after the last Council of Ministers, the vice president, Soraya Sáenz de Santamaría , explained, without going into details, that Rajoy has public meetings but that “others” are private , either because the interlocutor prefers it, or because You may be negotiating something and “secrecy and discretion” is required .