The cause of unemployment, the economy
Secretary of State for Economic, José Manuel Camp, considered, unlike the Bank of Spain, the Spanish financial system for the unemployed is not the problem but to find a new path that would enable the economy to grow.
According to the secretary of state, unemployment is a peculiarity of the Spanish economy and the main concern of everyone, “especially the government,” but in the case of banking, Camp believes the challenge will be the entity to finance the real economy, namely households and firms.
This will get back to the path of growth and job creation capacity, which “depends on the financial system,” so I asked for institutions to take the challenge of being able to also fund new companies, something he admitted “can be costly.” .
But for institutions to fulfill their aim will be to undertake the necessary restructuring of the sector, which may include “painful cases,” said Camp. .
However, he stressed that the starting point of the Spanish financial system is ahead of many other neighboring countries, therefore, among other things, a prudential regulation or a retail business model.
It is there that would frame the new activities initiated by the Executive through the Official Credit Institute (ICO) to counteract the difficulties they may have the institutions to finance businesses.
In addition, other initiatives could also be included as the background of public-private partnership for the creation of new infrastructure
[...] initiative, launched by the telephone company intends to finance the computer equipment of SMEs and self-starting their businesses in 2010, with the aim of [...]