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Germany Makes Last Pitch Before Vote
Keywords:
The Merkel government's effort to convince a skeptical German public about the need to aid Spain's banks. This includes a video on YouTube. The German parliament will vote shortly on the loans to Spain's savings banks.
A detailed account of the unfolding crisis at Bankia bank in Spain during 2011-2014
04/01/2009
An account of the key players and the ufolding of critical events in the IPO offering for Bankia, and the unraveling of the bank in the months that followed, as the Spanish regulators and government failed to get a handle on problems and instead put their hope on an improving economy. On May 3, Mario Draghi warned about the problems at Bankia in Barcelona. On May 4, the heads of Spain's largest banks BBVA, Banco Santander and Caixa, told the government it had to takeover Bankia, setting in process the events leading upto the acceptance of $125 billion in EU aid to recapitalize Spain's banking system. Bankia was put together from seven failing cajas savings banks. The problems related to the housing bubble are seen throughout the cajas savings banks.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Wall Street Journal 09/28/2011
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Economist 05/29/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Rescue of Spain's banks with a $125 billion committment from the European Financial Stability Facility (EFSF)
02/25/2010
EU finance ministers persuaded Spain to borrow from the EFSF and place the money in a special fund intended to recapitalize its banks. The IMF will provide some oversight over the banks but no conditions or oversight will be imposed on Spain only on its banking system as a compromise. Problems in the banking system arise from a housing bubble in Spain and failing cajas savings banks. Spain has already committed to adhering to fiscal deficit targets on a longer term basis with the EU. This makes it a rescue of the banks more than a bailout of the kind deisgned for Greece, Ireland and Portugal.
Grouped Articles
Wall Street Journal 08/08/2011
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Economist 05/29/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Spain requests bailout help - The Washington Post
Washington Post 06/10/2012
Spain's Bankia bank
10/02/2010
The consolidation of a number of Spanish savings banks under government direction led to the creation of Bankia, Spain's third largest bank. Efforts to recapitalize these banks which have large accumulated large debt from the real estate boom is part of the Spanish government's effort to tackle the debt crisis facing Spain. Rodrigo Rato, a former finance minister and managing director of the IMF, heads Bankia and the effort to restore confidence in Spain's banking system.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Spain Launches Privatization of Bankia
Wall Street Journal 02/28/2014
A Former IMF Leader Tackles IPO Challenge
Wall Street Journal 06/08/2011
Spain's banks
07/09/2010
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Loan Growth Suffers at Spanish Banks
Wall Street Journal 11/13/2015
Spain to Approve Cajas Regulatory Overhaul
Wall Street Journal 07/09/2010
Crisis Awaits Worldâs Banks as Trillions Come Due
New York Times 07/11/2010
Spain's Cajas savings banks
02/25/2010
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
New York Times 05/17/2013
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Economist 05/29/2010
Spain's cajas: Thinking outside the box
Economist 07/31/2010
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
Gerhard Schroeder, former chancellor of Germany, Agenda 2010, and Angela Merkel's handling of the eurozone crisis
09/20/2011
Gerhard Schroeder describes his approach to a new Agenda 2020 for Europe. Schroeder implemented Agenda 2010 for Germany with changes to the welfare state in Germany starting in 2003. He talks about how this was done and important decisions that were made at the time for implementing it without losing public confidence, which bear directly on the situation today.
Grouped Articles
Germany reaps rewards of entitlement cuts - The Washington Post
Washington Post 09/20/2011
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
Germanyâs Neighbors Admonish It Over Surplus
New York Times 11/13/2013
Germany’s flagging economy: Build some bridges and roads, Mrs Merkel
Economist 10/17/2014
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Germany's Constitutional Court and the EU bailouts
09/07/2011
Germany's Constitutional Court and EU bailouts of Greece, Portugal, Ireland and other countries in the EU. The Court ruled that the bailouts were legal under German law. It also required that future bailouts would have to be approved by a parliamentary committee. This does not preclude bailout loans as the Merkel government has support for its moderate position in the parliamentary committees.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Greek Bailout Cost Hampers Prospects of Deal
Wall Street Journal 07/11/2015
Washington Post 09/07/2011
New York Times 12/01/2011
Deepening Crisis Over Euro Pits Leader Against Leader
Wall Street Journal 12/30/2011
An American History Lesson for Europe
Wall Street Journal 02/03/2012
What does Germany want from the Euro and the European Union? The Euro issue facing Germany in 2011-2015
03/03/2010
German political leaders do not want a "transfer union." At the same time they want to keep the European Union, just as much as Chancellor Kohl and Chancellor Adenauer. Merkel, Schroeder, Schauble and other leaders agree on the need for the European Union. The question is how to bring fiscal discipline to the EU, even if this means redesigning the structure of the EU. The vision of a united Europe persists.
Grouped Articles
Wall Street Journal 03/03/2010
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
New York Times 05/22/2014
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Economist 08/08/2015
Charlemagne: Germany’s euro question
Economist 09/10/2011
Reports by consulting firms Oliver Wyman and Roland Berger, and a separate report by audit firms looking into the books of Spanish banks
03/11/2011
Consulting firms estimated 62 billion euros will be needed to recapitalize Spain's banks. This is similiar to figures of Fitch Ratings and the IMF. The consulting firms of Oliver Wyman and Roland Berger used informaton provided by the Bank of Spain and did not look directly into the books of individual banks because of time constraints. The Spanish government is doing a separate detailed audit using audit firms which will examine the books of the 14 largest banks and report by the end of July. Disagreement between Mr. Alumnia, Spain's representative at the EC and the Spanish government about whether some banks should be closed.
Grouped Articles
For Spain, Accusations of Lagging on Reforms
New York Times 06/20/2012
Spanish Aid Plan Is Flawed, Says IMF
Wall Street Journal 06/22/2012
Euro Zone Eases Budget Demand on Spain
Wall Street Journal 07/10/2012
Spanish Official: Slow Reaction to Crisis
Wall Street Journal 07/18/2012
Germany Makes Last Pitch Before Vote
Wall Street Journal 07/18/2012
Auditors Prepare for Spain's 'Bad Bank' Plan
Wall Street Journal 08/02/2012
Initial public offering planned for Spain's Bankia bank
03/11/2011
Efforts to recapitalize Spain's savings banks.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Spain Launches Privatization of Bankia
Wall Street Journal 02/28/2014
A Former IMF Leader Tackles IPO Challenge
Wall Street Journal 06/08/2011
In Spanish, Bankia Starts Wooing IPO Investors
Wall Street Journal 07/01/2011
Spain's banking officials, lack of prudent oversight over the banks and bad loans from the real estate bubble
02/22/2011
Jaime Caruana, Rodrigo Rato and Vinals are senior Spanish banking officials who worked for the central bank and at the IMF. Caruana is head of the Bank of International Settlements in Bases (BIS), and Vinal heads a department at the IMF. Rato resigned from Bankia bank after its takeover by the government. Experts say they failed to exercize proper oversight of Spain's banking system and in their positions at the IMF failed to draw early attention to the problems.
Grouped Articles
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Wall Street Journal 09/28/2011
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Rodrigo Rato Resigns as Executive Chairman of Bankia
New York Times 05/07/2012
Spanish Officials Hailed Banks as the Crisis Built
New York Times 06/26/2012
Spanish Woes Cast Rescue in New Light
Wall Street Journal 06/20/2012
Short term actions to save the euro taken at the Brussels negotiations on June 28, 2012
01/11/2012
Short term steps Germany agreed to when pushed hard by Italy, Spain and France, include the critical actions to let the European rescue funds to directly buy Italian and Spanish bonds on private markets to drive down bond yields, and provide direct aid to Italian and Spanish banks. The two steps were vital to restore market confidence and necessary if the European project was to be saved. The marathon negotiation stetched for 14 hours with brinksmanship, and were described by prime minister Monti of Italy as "hard and tense" but worth it.
Grouped Articles
Italy's Monti Hopes Summit Win Plays at Home
Wall Street Journal 06/29/2012
Global Markets Soar on European Breakthrough
New York Times 06/29/2012
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Angela Merkel's handling of the financial crises in eurozone countries
04/29/2010
The German response to the debt crisis in the eurozone and the events in 2011-2012.
Grouped Articles
As Greek Drama Plays Out, Where Is Europe?
New York Times 04/29/2010
Germany Clears Rescue for Greece
New York Times 05/03/2010
Economist 05/13/2010
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
Merkel Wins Big in German Election
Wall Street Journal 09/23/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
German chancellor Merkel's coalition government with the Free Democrats (FDP) in 2010-2013
06/28/2010
Grouped Articles
Germans Respond to Merkel's 'Motherly' Side
Wall Street Journal 08/23/2013
Presidential Vote Will Test Merkel
Wall Street Journal 06/28/2010
Merkel Looks to Recharge Her Ratings
New York Times 07/21/2010
German Industries Rebuke Chancellor
Wall Street Journal 08/21/2010
BusinessWeek 09/30/2010
Crises Shake German Trust in Euro Zone
New York Times 11/26/2010
The 2011 Christian Democratic Union Party Convention in Leipzig, Germany
07/13/2011
It was at the 2003 CDU convention in Leipzig that Angela Merkel told delegates that the CDU would return Germany to it position of economic leadership in Europe.
Grouped Articles
Wall Street Journal 07/13/2011
Merkel Offers Her Election Manifesto
New York Times 06/24/2013
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Merkel Party Seeks Euro Exit Policy
Wall Street Journal 11/15/2011
Merkel Urges Party to Help Save Euro
Wall Street Journal 11/14/2011
European Bank Chief Pushes Back
Wall Street Journal 11/19/2011
The German parliament's vote in July 2012 on the $125 billion loan committment to Spain's banks
03/11/2011
The need for opposition support to pass the legislation required to provide loans to Spain's savings banks. A committment of $125 billion in loans to Spain's banks was made by the EU. The efforts of the Merkel government to win popular support from a skeptical German public includes videos on YouTube in July 2012. The opposition SPD says it will look at the loan arrangements carefully to make sure this leads to a healthy Spanish banking system with the required changes being made at the banks.
Grouped Articles
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
German Parliament Approves Greek Bailout Negotiations
Wall Street Journal 07/17/2015
Germany Makes Last Pitch Before Vote
Wall Street Journal 07/18/2012
German Parliament Backs Spanish Bank Plan
New York Times 07/19/2012
Spanish Bank's Ex-Leader Defends His Record There
New York Times 07/26/2012
France Raises Taxes in Tough Budget
Wall Street Journal 09/28/2012
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