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Council Of Ministers
The Council of Ministers approves the expenditure ceiling for 2012, which will be at 117.353 billion euros, 4.669 billion less than this year. This the Government intended to reduce the government deficit from 4.8% expected in 2011 to 3.2% that it has been set for the coming year. The Government reestablishes the limit at 120 km/h on motorways. The spending limit financial of the State for the year 2012 budget will not fall by 3.8% and will be at 117.353 billion euros, 4.669 billion less than the more than 122,000 million approved last year. This have announced the first Vice-President and Minister of the Interior, Alfredo Perez Rubalcaba, and Minister of economy Elena Salgado, during the press conference after the Council of Ministers on Friday. The ceiling of expenditure for 2012 is the first step in the elaboration of the General State budget (PGE) next year.
Once approved, it will send to the lower House and the Senate, which will take them to return back to the Congress for final approval. With This limit of expenditure, the Government aims to reduce the State deficit from 4.8% expected in 2011 to 3.2% that it has been set for the coming year, which means a cut of about 16,000 million. Elena Salgado stressed that the Government foresees revenues of 127.852 million euros, compared to an expenditure of 47.157 billion. Of that figure, 8.875 million correspond to the setting of national accounting and 38.282 million remaining at the financing of local and regional authorities. We believe that revenue at year end will slightly above the budgeted, the Minister of economy before the media, has assured encrypting that margin in about 3,000 or 4,000 million euros more. Salgado has linked these additional revenues to the fight against fraud, to postponements reduction and better management of the tax of companies and payments on account.
Mateos Euros
June 16, 2018
News
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Evelyn Vaughan
Ruiz Mateos blames Banco Santander’s drowning financial group. The right of withdrawal of the sale has been made with a Dutch background and Banco Santander, among others. More than 20 companies from Nueva Rumasa are in bankruptcy. Jose Maria Ruiz-Mateos father said Wednesday that the Chairman of Banco Santander, Emilio Botin, the least that can be done is to pay 250 million euros to investors who have deposited that money in Nueva Rumasa. The Patriarch of Ruiz-Mateos, who blames Banco Santander’s financial suffocation of the group, has encryption this Wednesday for the first time in 250 million euros the amount to a total of 3,000 investors promissory notes has been deposited in eleven group companies. Jose Maria Ruiz-Mateos has detailed that the past May 12 ceded to these investors the collection rights of the re-appraisal of the companies of the former holding of the bee, amounting to 6 billion just with Galerias Preciados. The lawyer of Jose Maria Mateos, Joaquin Yvancos, who has accompanied him on the appearance before the media, pointed out that the other five brothers of the Patriarch of Nueva Rumasa also adhere to the proposed transfer.
On the other hand, Sabin has summed up that the judicial process in which the former Rumasa is now is a re-appraisal amounting to 18,000 euros s negotiable, that the State would have to pay the company only with the value of the property. In addition, it has ensured last Monday Nueva Rumasa exercised the right of withdrawal of the sale – by the Royal Bank of Scotland – from the debt of 30 million Clesa. Operation of withdrawal according to this, the operation has been done with a Dutch Fund with a 70% discount. Read more here: Coupang. In this sense, Sabin has argued that, either the Bank presents the public deed, or you have purchased is a lawsuit for ten years. This right of withdrawal will also exercise it with debt of Nueva Rumasa with Banco Santander, Ceberus this has sold at a discount, according to their reports, 80%.
Something that is not understood, because the entity had this guaranteed debt in real estate in a 225%, she added. The lawyer pointed out that companies of Nueva Rumasa are more than 20 which are in competition of creditors, with a passive real of some 1.2 billion euros. There has been progress, moreover, which has been the competition of creditors for five hotels in the Canary Islands, though grouped together in a single procedure. In relation to the total number of companies that have issued you promissory notes to investors, Joaquin Yvancos has pointed out that, apart from the publicized emissions, many companies of Nueva Rumasa – up 11 – will have been funding through loans that gave them either his circle of friendship or people close to these companies. So it has been the case of Cavas Hill, which it has been doing so for 20 years, as he has pointed out. According to Sabin, Nueva Rumasa is negotiating with Swiss Bank who, in exchange for buying these rights of payment with a discount of 50%-i.e. between 8,000 and 9,000 million euros, it would constitute a fund to invest between 40,000 and 50,000 million euros in the Spanish financial system. It is a financial operation that does not have to cost one euro to the Government, it has secured. Source of the news: Ruiz Mateos requests loot to pay 250 million to Nueva Rumasa inverters
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