European Union Is Preparing For A New Round of banks Test The European Union’s 27 heads of state succeeded in reaching an agreement includes the creation of an amendment to the Lisbon Treaty of European unity, would allow establishing a permanent mechanism for crisis management within the euro zone began in 2013.
The leaders agreed to create a permanent financial safety net from 2013 and move the European Central Bank to increase funding for the network to cope with the debt crisis that has engulfed the euro zone. But after the insistence of Germany heads of state said the 27 members of the Union, it will not be activated Phoenix Trading Review solution to a long-term crisis that will be added to the EU treaty mechanism, but «if this is something inevitable to protect the stability of the euro area as a whole», also did not see the leaders need to increase the financing of the current temporary rescue fund, which some analysts say it may not be enough if Spain and Portugal needed a rescue from the European Union programs, and the International Monetary Fund after Greece and Ireland, also did not discuss the use of the fund more flexible. Phoenix Trading Scam Capital markets may be seen as a decision not to increase the size of the temporary fund or even to discuss the matter a sign of the split, which could raise further doubts in the markets.
He said the Prime Minister of Luxembourg, Jean-Claude Juncker: «the decision is not to expand or increase the size of the funds at the disposal of the European Financial Stability Fund».
The European Central Bank said it will double its capital to almost doubled to 10.76 billion euros to deal with the biggest credit risks and to deal with market volatility, the euro countries will bear the increase. He said Bank President Jean-Claude, that the Board of Governors of the Bank believes that it is appropriate to set aside «additional provisions» in reference to potential losses in sovereign bonds from the euro zone had been bought by the bank. On the sidelines of the summit that the two-day work, and concluded yesterday, Friday, in Brussels, known as «the autumn summit», said President of the European Union, Herman Van: «We have agreed to enter required from Member States to the treaty to create a permanent Phoenix Trading Scam mechanism to safeguard the financial stability limited amendments Per euro zone ». He added that the aim is to activate the amendments in early 2013 at the latest, then it can be permanent mechanism itself to enter into force in June 2013.
For his part, President of the European Commission, Jose Manuel Barroso, said that this fundamental economic decision, it is important that the response given by EU leaders, is that they are ready to do whatever is necessary to achieve Phoenix Trading Scam financial stability in the euro area. He Jersey, President of the European Parliament: «The adoption of a permanent mechanism to support the stability of the euro is an important message to European citizens and the Member States» in the unified bloc.
The President of the European legislative body is convinced that the participation of non-Member States in the euro zone in the permanent mechanism, is considered a good thing in the eyes of the European Parliament, and considered that determine how to participate and mechanisms and conditions is up to the Member States of the Union and the Bank of the European Central primarily, then displays after that Parliament, like other initiatives. In response to a question about the euro bonds and restructuring of the public debt or bank debt, Citidel LTD Scam noted that all these things are in the framework of strengthening European economic governance, «but we must discuss all the ideas together, as they are indivisible.» He stressed the welcome Parliament to open a comprehensive debate on all the ideas put forward to strengthen economic governance in Europe.
The EU is organizing a new round of stress tests for banks Member States in the consolidated bloc. And it began the European institutions involved in preparing the new round of tests, scheduled for next February, the European Commission in Brussels and briefed by Commissioner of Economic and Monetary Affairs, ministers of finance and economy during their last meeting in Brussels on the date of the Citidel Investment APP Scam tests.
Said Rehn, at the closing press conference of the meetings «We will be available for future tests of the greatest possible transparency». And according to the «Middle East» the executive branch of the Federation of sources, it will be the new tests control through bank European power, which is based in the London-based, and will begin its work in the framework of a new system of financial control in the European Union with the beginning of the new year. A spokeswoman for European Commissioner Michel Barnier, in charge of internal Einstein Method Scam markets, the pressure on the banks’ annual tests will be supervised by the European Commission to monitor the work of the banking sector. She said, «There is an agreement among everybody that the first test resulted in lessons learned, and we will try to simplify some of the procedures, so as to avoid the criticism directed to the first tests».
In August (August) the past, European events in Brussels the results announced by the organizers of the stress tests for banks yesterday welcomed, and in which he said that seven of 91 European banks, failed to pass the tests, revealed a lack of total capital of 3.5 billion euros. And various European capitals said they are correct results, and will lead to reassure the markets. The Commission said the administrators of European banks «as a result of the negative scenario after a sovereign debt shock, the seven banks would see falling capital adequacy ratios from the first level to below 6 per cent».
It was expected that about ten banks fail in the tests. And five Spanish banks are in Greece and other banks, and the last German regional bank for real estate investment.
A spokesman for the German Finance Ministry said the ministry does not expect to have to do any move after the announcement of the results of stress tests of European banks.
Said Michael Ofer, the ministry spokesman told a news conference in front of «do not expect that there will be no need for any move on our part. There is confidence in the outlook for the Einstein Method Scam tests will be correct, and it will be reassuring to the markets. » Long live the market at the time the watch for the results of stress tests he underwent 91 European banks, after the doubts markets on the banking sector led to higher cost of funds, and affected the stock prices since Greece’s debt crisis has raised fears of a breakup of the euro zone.
The financial markets fear the adoption of the Committee’s standards lack sufficient rigor or credibility or to the optimal method of communication in the announcement of the results, which could harm the reputation and the interests of banks. He said economic analyst Howard Weldon that the small banks is that you will fail in the test stand «we will deal with these results very carefully and with extreme precision. We do not expect a major bank failure in most European countries. » And withstand the test depends on the study of the ability of banks to cope with a difficult growth scenarios as a crisis or the collapse of the stock exchanges. The price of the International Monetary Fund this test, but he was busier in terms of strict standards in force.