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Some in Spain Blame Germany for Bailoutâs Delay
Keywords:
Public sentiment in Spain towards the eurozone in 2012-2013
10/15/2012
Shifting sentiment in Spain towards the eurozone as 57% of Spaniards say the eurozone is not good for Spain in a October 2012 poll. This happens as prime minister Rajoy has to make a decision to ask for aid from the EU with conditions attached. A request for aid was made a condition for funds approved for Spain which would come with conditions and sovereign responsibility for funds going to Spanish banks. The feeling in Spain is that the aid restrictions are a result of party politics in Germany ahead of elections for chancellor.
Grouped Articles
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
Greek Crisis Shows How Germany’s Power Polarizes Europe
Wall Street Journal 07/07/2015
Some in Spain Blame Germany for Bailoutâs Delay
New York Times 10/15/2012
Venezuela Casts a Long Shadow on Elections in Spain
The New York Times 06/19/2016
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
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
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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