SAREB ENTERS INTO PUBLIC DEBT
Since last March 23rdthe European Union obliges the Spanish State to count the debt of the Spanish bad bank Sareb in the Spanish public debt1. That means that 35 billion euros will be added to the accounting of the public debt of Spain, so it raise from 117% to 120% of GDP. Sareb was created with the objective of buying all toxic and problematic assets that the banks had in order to “clean” their balance sheets. The Minister of Economy … Read more