Barcelona 10/10/1915. My boss in banking for 60 after refusing credit to small council had agreed to be paying a few million of bonds of the Generalist. Twice the normal interest for private subscribers, and more than a sweet 3% commission for the bank in a one-year term issue, when 1% at five years is not common.
Now moved to say that if the issue was authorized, as is required by the Bank of Spain, Ministry of Finance and the CNMV, that if in addition the Government is a State, are bonds of the State, and although not understand the nuance of not funded by state channels, as “good, do not care! Another state formula to raise money, albeit expensive!
An approach unthinkable today, there is no freedom of choice in the financial market, so small that strictly speaking no market exists in the hands of the Bank of Spain poster and Savings Banks, and less in large state operations. In fact, it seems, or makes it appear that La Caiman would have some option to accept or reject the rest, Caiman Catalonia and others are under the command of the Bank of Spain-government. Another nuance would be the one who governs.
I wonder if La Caiman could have refused the operation, or by order of the Government serve to regularize the accounts of the Socialist Government to the possibility of losing the election. Too many accounts in red, or public and Semi-public Corporation, grantee organizations, agencies without budgetary control and cost incurred and paid with credit, or similar. A set of possible criminal actions.
A la Caiman, will not cost depositors convincing customers to buy those high-paying bonds as safe as the Treasury, and 30, 60 or 90 million euros to commit themselves justify the operation? In addition, we just have to use with their clients claim Catalan ensures a market sector that may never buy Spanish public debt, and for which the Government, even socialist, is another matter. Dominating more than 30% in Catalonia seems to have no difficulty in this issue beyond his rarefied existence complicated, and more looking to the ceiling of issuance by the Government is infinite. Very thin and the Catalan help grasp.
If the financial heights with the story think that Catalan could even attract black money, they Avocados, unless someone invents a pseudo fiscal adjustment. Perhaps more than twenty years ago, when the “single premium” or La Caiman “credit transfers” of Blanco de Scamander, were possible, but today the black money holders, whether or not Stalinists, it is almost impossible trick.
Presumably, although the Socialist Government would appreciate your cooperation to La Caiman, thanks I never meant very much from such institutions, the Europeans will not like it too. At this point, it is destabilizing operations more productive, another Spanish genius!
La Caiman will perhaps generate cash cost less endorsing these titles by the wider world, can greatly reduced at a time that the ECB OPEN BAR is restricted and the interbrain almost closed. Also on the international market is already talked of junk bonds for its high interest and fees, and the comparison sounds of Catalonia and Spain but with Argentina in 2001.