The British newspaper The Telegraph has today on the cover of its website an article in which he analyzes the financial situation of Spain, saying it is "officially insolvent" and that it is best to "get the money while you can."
The article, written by his associate editor Jeremy Warner on a daily finance blog, is based on the report of the International Monetary Fund (IMF) published last month concluded that the debt restructuring in Spain is "inevitable".
Although the IMF noted that, because it is an institution "too diplomatic" Spain has qualified directly as insolvent, samsung tablet price in pakistan understands that its latest forecasts "with air instead of the usual unrealistic optimism" put the country at this point .
The British newspaper recalls that Europe and said that Greece would be the first and last country to suffer a financial restructuring, but then Cyprus was involved in a similar situation. Thus, stresses that Spain is holding a recapitalization of their banks more waiting for the completion of the European banking union, hoping to "do the job instead."
However, this will lead to The Telegraph "pay the price" if you consider the precedent of Cyprus. In this regard, stresses that bank creditors will be "largely recovered" and the confiscation of their deposits seems "very likely".
"I do not advise taking money lightly. In fact, a board of this type is usually considered irresponsible, because it runs the risk of inducing panic, but looking at the projections of the IMF is the only rational decision, "says British journalist.