Spain In Order to Stabilize Market Continue Implementation Reform Measures
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Spanish Prime Minister Jose Luis Rodriguez Zapatero on December 1, said in Parliament, the Government will introduce 3 new package of economic policies to ease market panic. This is the fourth time this year the Spanish government introduced a similar policy.
Jose Luis Rodriguez Zapatero announced a package of the large part of economic policy is "familiar faces", which is still in the consideration or scattered among other reform measures, or has been reviewed and approved but not yet implemented. For example, the standardization of the private employment agency owned by the original reform program in the labor market, and help people quickly build the company's measures is the sustainable economic law are now stranded.
These measures, the most attention is to promote aviation and lottery privatization policy. According to the Spanish Government's plan, private capital will be allowed to master the Spanish Airport and Aviation Authority, 49% of the shares. In addition, the two major airports of Spain - Madrid Barajas Airport and Barcelona airport will also be handed over to private companies. In the lottery industry, the private sale of the Spanish National Lottery, will be a 30% stake. In these two sectors through the privatization move, the government is expected to receive 14 billion euros in revenue.
2, Jose Luis Rodriguez Zapatero said in an interview, the Spanish "do not need any assistance the European Union", with the gradual implementation of reform measures, he believed that Spain's economic growth next year, and may even become the strongest growth in the European Union countries one. Zapatero also said the government is now worldwide with a number of fund companies and large investors to negotiate, hoping to get more private capital investment necessary to expand exports of Spain, welcomed the Asian sovereign funds.
Analysts here pointed out that the debt crisis in Ireland, the market's confidence in the euro zone economy suffered heavy losses again, Spain, Portugal and other countries in the secondary bond market risk premium rising to the two governments and the enormous pressure on the financial system. Reflected in the stock market, and in November the Spanish stock market cumulative drop of 14.29%, since September 2008 bankruptcy of Lehman Brothers the largest decline since. Throughout November, the Spanish stock market capitalization loss of 47.875 billion euros. And on Tuesday, the Spanish government bonds risk premium is still high at 4.3%, but the market is expected to hold the European Central Bank will increase the threat of being a member of the debt crisis, debt, so this figure is a drop in the past two days .
2, succeeded to the Spanish government issued the total market value of 24.68 billion euros of three-year bonds, expected to yield 3.717 percent, the highest since the September 2008 a new high.
2 German economics minister, said the EU could not start for Spain and Portugal for assistance. Before the industry also believe that the overall financial situation in Spain is much better than Ireland. |
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By :
Jessie Stone
Submitted
2010-12-12 10:15:27 |
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