Post by account_disabled on Feb 21, 2024 21:50:00 GMT -8
It has allocated 6.7 billion so far. Only if the Greek country declares bankruptcy or leaves the EU will the guarantees given by the State to the European Rescue Fund be executedSummit of economic ministers in La Moncloa. Not even hearing about Greece's exit from the euro at the table of the Delegated Commission chaired this Monday by Mariano Rajoy. This scenario would mean a disbursement of around 18 billion euros, which Spain has so far been able to avoid. As El Confidencial Digital has learned from sources in the Government's economic leadership, Moncloa radically distances itself from Greece's exit from the euro . He positions himself against other countries such as Germany or France, which have not been so opposed to an expulsion from the country in recent days. There is an underlying reason for this resistance from Spain: it has contributed 6,650 million to the Greek rescue from a bilateral loan at an interest rate of 5%. It's the only thing he's really spent so far.
On the other hand, it has provided guarantees through the EFSF for a value of million, of which it has not had to make a single payment so far . Disbursement so far of 6.7 billion In , the first rescue package for Greece was concluded, worth 110,000 million euros , of which 80,000 corresponded to bilateral credits granted by the Member States and 30,000 to the IMF. They were loans granted through an agreement signed between Greece, the IMF, and the creditor member states, including Spain. Of the 80,000 million, as of January 1, 2015, 52,900 had been disbursed . Spain contributes the equivalent of its Denmark Mobile Number List subscription in the capital of the European Central Bank, that is, 8.3%. Therefore, of the 52.9 billion euros, Spain has so far allocated 6,650 . The interest rate applied to Greece for these loans was between 5% and 7%, a much higher rate than what governments were paying then for financing in the markets. Spain has provided guarantees for the second rescue Then, on March a second bailout for Greece was decided and 130 billion were added to the program. This time, however, the scheme was not bilateral credits , but rather a mechanism was used, the EFSF (European Financial Stability Facility) created in . Thus, the EFSF takes money in the financial markets with guarantees from the Member States, and lends it in turn. In the Greek case, as of .
Billion euros of this second package have been disbursed. The EFSF can issue bonds or other debt instruments on the market with the support of the German Debt Management Office to raise funds needed to provide loans to financially troubled eurozone countries , recapitalize banks or purchase sovereign debt. Bond issues are backed by guarantees granted by the member states of the euro zone , but there is no disbursement if these guarantees are not executed. Spain has to endorse the mechanism by 12.8% . This means that it has provided guarantees for this second bailout for Greece worth 18.15 billion euros. But they are guarantees: you have not had to pay out a single cent of this amount. 18,000 million if he declares bankruptcy But the Greek bailout could end up costing Spain more than 18 billion euros if Greece heads toward bankruptcy and exit from the euro. If that happens, it would default on its financial obligations by declaring itself in suspension of payments , Spain would lose a large part of the 6,650 million lent and the guarantees given to the EFSF would be executed, so it would have to disburse those other 18,000 million.
On the other hand, it has provided guarantees through the EFSF for a value of million, of which it has not had to make a single payment so far . Disbursement so far of 6.7 billion In , the first rescue package for Greece was concluded, worth 110,000 million euros , of which 80,000 corresponded to bilateral credits granted by the Member States and 30,000 to the IMF. They were loans granted through an agreement signed between Greece, the IMF, and the creditor member states, including Spain. Of the 80,000 million, as of January 1, 2015, 52,900 had been disbursed . Spain contributes the equivalent of its Denmark Mobile Number List subscription in the capital of the European Central Bank, that is, 8.3%. Therefore, of the 52.9 billion euros, Spain has so far allocated 6,650 . The interest rate applied to Greece for these loans was between 5% and 7%, a much higher rate than what governments were paying then for financing in the markets. Spain has provided guarantees for the second rescue Then, on March a second bailout for Greece was decided and 130 billion were added to the program. This time, however, the scheme was not bilateral credits , but rather a mechanism was used, the EFSF (European Financial Stability Facility) created in . Thus, the EFSF takes money in the financial markets with guarantees from the Member States, and lends it in turn. In the Greek case, as of .
Billion euros of this second package have been disbursed. The EFSF can issue bonds or other debt instruments on the market with the support of the German Debt Management Office to raise funds needed to provide loans to financially troubled eurozone countries , recapitalize banks or purchase sovereign debt. Bond issues are backed by guarantees granted by the member states of the euro zone , but there is no disbursement if these guarantees are not executed. Spain has to endorse the mechanism by 12.8% . This means that it has provided guarantees for this second bailout for Greece worth 18.15 billion euros. But they are guarantees: you have not had to pay out a single cent of this amount. 18,000 million if he declares bankruptcy But the Greek bailout could end up costing Spain more than 18 billion euros if Greece heads toward bankruptcy and exit from the euro. If that happens, it would default on its financial obligations by declaring itself in suspension of payments , Spain would lose a large part of the 6,650 million lent and the guarantees given to the EFSF would be executed, so it would have to disburse those other 18,000 million.