La Rioja issues two new issues of public debt to refinance loans at better conditions

 

 The Government of La Rioja to refinance and lengthen the public 

&nbsp;The Government of La Rioja to refinance and lengthen the public&nbsp;<br /><br />

The Official Gazette of La Rioja today publishes the resolutions of the director of the Office of Budgetary Control in which the characteristics of two public debt issuance operations are defined for a global amount of 45 million euros with the placement companies CaixaBank and BBVA, directed to refinance loans “with the aim of lowering financial costs and lengthening the terms of the debt portfolio”.

The closed operation with the placing entity CaixaBank amounts to fifteen million euros, while the operation with the BBVA is thirty million; in both cases, it has been issued with an interest rate of 2.9% and the maturity date of the issue is December 1, 2017.

These two new operations are part of the strategy of the Government of La Rioja to refinance and lengthen the public debt portfolio in order to find conditions in the markets that improve the characteristics of the loans that were subscribed since 2011 when the economic scenario was conditioned for a very high risk premium and for difficulties in accessing credit as well as very limited maturities. Specifically, with these financing lines the loan of 70.8 million euros will be amortized, which in 2011 was subscribed in the framework of the Supplier Payment Plan and for which interest rates of 5 are currently being paid, 5% in order to save 1.4 million euros.

The Fitch agency has improved the outlook for the long-term debt of the Autonomous 

The Fitch agency has improved the outlook for the long-term debt of the Autonomous&nbsp;

These operations, which in no case will increase the levels of indebtedness in the region, confirm how financial markets value the solvency, credibility and rigor in the management of regional public accounts by the regional executive.

Recently, the Fitch agency has improved the outlook for the long-term debt of the Autonomous Community of La Rioja with a rating of triple BBB stable in long-term issues and F2 in short issues. This rating “ratifies the solvency of the community given that triple stable BBB means high solvency and F2, very high security and very low risk of default”.

Also, according to the latest data published by the Bank of Spain, the debt to GDP ratio of La Rioja stood at 14.3% in the third quarter of 2013, a percentage lower than that registered by the Autonomous Communities as a whole. , which represents 19.3% of its GDP.

Thus, the debt of La Rioja in the third quarter of 2013 is 1,128 million euros, below the limit authorized by the Ministry of Finance set at 1,150 million euros, 14.5% of GDP.

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This post is the continuation of this previous one in which

This post is the continuation of this previous one in which

as a summary, the effect on health (mortality) attributable to the consumption of sugary drinks was exposed. By way of summary, the aim is to explain and value the data provided by this study, which highlighted that it can be attributed to the consumption of sugar-sweetened beverages around 184,000 deaths per year … Can we trust these studies? that leave such an alarming message on the table?

 

The problem of the reliability of this type of data

The problem of the reliability of this type of data

Suppose someone dies from lung cancer. Following the example suppose at the same time that the deceased was an active smoker, who lived with other smokers (was therefore also a passive smoker) and also worked in mining, specifically in obtaining asbestos … another element clearly identified to the time to significantly increase the risk of lung cancer. And now imagine that there are a significant number of people who meet these same characteristics. Well … the million questions are several: what element of the aforementioned caused your cancer? Was there any kind of synergy between all the risks cited ? To what extent the genetics of each person could influence taking into account the exposure to these risk factors? Etc. It is not at all easy to attribute a specific magnitude of risk to pathological situations that have multiple irrigation factors … let’s not say at the same time, protective and risk elements coincide, with certain genetic predispositions . What is usually usual.

Going back to the dietary issue

The quantification of the impact of diet on the genesis of diseases and the risk of death has the same difficulties as the example described above. However, the type of studies that would give us that type of information so useful and that we crave would be very easy to design … Let’s see them.

These would be intervention trials to which part of the sample under study would be subjected to specific dietary conditions and the other part to different conditions modifying a single variable. In the case that occupies us a group would be forced to drink 12 cans of sugary soda a day compared to another part of the sample in which the same conditions would be maintained as in the first group except that in this second would be replaced those soft drinks by water. Moreover, there could be another subsample (s) to which 6, 3, etc. will be contributed … cans of soda a day. Then we would try to compare the results of all the groups, detailing in each case the impact on health of the only variable among all the groups considered . These studies as I say are easy to design and could be done with all the food, from gin or beer, to bacon, to prune plums or Soria butter … All. But, Houston, we have a problem. And fat: for reasons more than obvious this type of studies are ethically reprehensible and therefore, at least to this day, it is impossible to carry them out (at least publicly).

The solution: cohort observation

Therefore, when establishing causalities in this field, it is necessary to resort to what are called cohort studies in which a population is observed during a certain time. Certain variables are measured and then it is observed if there is some kind of relationship (direct or inverse) in the parameters of these variables. For example, a direct relationship would be: “while we have been watching, those who drink more soft drinks die more”. And if it were the reverse, the other way around: “while we have been watching, those who drink more soft drinks die less”. Although a series of elements must be taken into account, in the first case it could be said that the consumption of soft drinks increases the risk of death and; in the second that its consumption is a protective element.

In both cases the power of the conclusions of this type of studies will be established by multiple characteristics, but among the most relevant are the number of people observed (the number of the sample) and the time they have been under observation .

The main problems

The main problems

The first one is to establish causality . Although two variables evolve at the same pace (changes in one direction of a variable imply changes in the same sense of the other) … or inversely (the increase or decrease of the first variable is associated with changes of the opposite sign in the other variable ) does not mean a priori that the changes of one of them is the cause of the changes in the second … or yes. Remember this entry about chocolate and its effect on weight loss in what was a disastrous journalistic dissemination exercise of a scientific article at the same time also questionable.

Related to the first problem is the second when it comes to eliminating or at least identifying the confounders . An especially complicated aspect in studies of this type. The confounders are those elements that either have not been taken into account or that have not been weighted in an appropriate way and that have a significant influence on the magnitude of the observed variable (the most typical being death or suffering from a certain disease.

The classic example with which I usually highlight a classic confusion is the consumption of watermelon and the number of deaths by drowning: Did you know that the more watermelon is consumed, the more the number of drowning increases ? So, do you think that prohibiting the consumption of watermelon will help to avoid or reduce the number of drowning? The answer, you know, is no. The correlation between both variables exists (they increase at the same rate, direct association) but does not imply causality . The population takes more watermelon when it is warmer (the true confusing element) because in these latitudes the watermelon season is summer and then more people are bathed, so the probability of more drowning increases.

Sugar-sweetened beverages and death have the confounders been taken into account?

Well, for the regret of the soft drink industry, I’m afraid I congratulate myself. Precisely the study itself devotes a few lines to explain the difficulty of convincingly demonstrate that this type of studies offer reliable data or what is the same, that in this case the number of deaths mentioned (184,000, do not forget) can be attribute to the consumption of sugary drinks.

To convince of this we must start from the knowledge that the main authorship of the article rests on one of the people who currently enjoy the greatest prestige when it comes to researching these topics, Dariush Mozaffarian . And the article also states that everything possible has been done to control the confounding elements , and thus not overestimate in the final conclusions the impact of sugar-sweetened beverages on health versus other dietary elements.

Why did Dilma Rousseff fall?

Why did Dilma Rousseff fall?

The two towers that house the headquarters of the BNDES, a black glass skyscraper, and Petrobras, one next to another in the center of Rio, around the corner from the Lapa samba clubs, can hide the secrets of the boom and fall of Dilma Rousseff .

These two public entities were the main vehicles of the state-run economy strategy employed by the workers’ party (PT). It was the collapse of Petrobras’ investment, due to the collapse of the price of oil and the judicial investigation known as Lava Jato over a network of bribes channeled through the iconic state oil company, which set in motion a debacle. “Without Petrobras’ investment, the economy went into recession,” said Otaviano Canuto of the IMF. The collapse of the price of other raw materials such as iron and soy further complicated the situation.

Likewise, it was Rousseff’s bold decision to use BNDES and other public banks to force a drop in the very high interest rates in Brazil, which unleashed the wrath of private banks and financial markets, the beginning of the prolonged harassment of government that ended with the almost final destitution of Rousseff on Wednesday night ..

A pretext was invented from the so-called fiscal “pedals”, the use of loans from public banks to provisionally reduce the budget deficit, something usual in Brazil – and legal, according to Rousseff’s interpretation. But the real reasons were others. The economic crisis and the measures that Dilma adopted to face it raised blisters in the establishment. “This all began when Dilma tried to reduce bank spreads (the difference between the interest paid by banks and the ones they charge), which were gigantic; the private banks did not forgive him, “said a BNDES technician.

The new government of Michel Temer did not take anything Friday to announce a new project of privatization of “everything that is possible according to the minister of transport- in sectors such as oil, the electricity sector, ports and airports. Although the government has not expressed itself about this, the PT law that gave preference to Petrobras and local suppliers in the exploitation of oil in the Atlantic will probably be revised in a “plan that will be neoliberalism 2.0”, according to Carlos Pinkusfeld. , from the Federal University of Rio de Janeiro.

It will be part of a plan to raise the state’s income to reduce the Brazilian deficit of 10% of GDP and prevent a solvency crisis in a country that pays extremely high interest rates on its debt, equivalent to 20% of GDP, a hemorrhaging of money from the state to banks and bond investors. It was not for nothing that Dilma tried to lower the rates

Predictably, the markets have uncorked bottles of cachaça rum after the controversial change of government in Brazil. The real has risen another 1.5% since the vote in the Senate mitras that the Sao Paulo stock exchange rose from 50,000 to 54,000 while senators prepared the ouster of the president elected in October 2014. Privatized companies can ultimately be bargains The real is cheap and the prices of Brazilian assets depressed in the international market.

Meanwhile, the pressure on BNDES grows, praised during the 2008 -2010 global financial crisis as a model example of how public banks can avoid the speculative problems of private banking. Henrique Merielles , the new finance minister, said on Friday that public banks “will be valued with technical criteria.” It also tries to involve the bank in the lava jato scandal along with its president Luciano Coutinho, one of the economic brains of the Brazilian left … It was insinuated in Folha de Sao Paulo last week that the loans that BNDES channels to the companies involved in the scandal as Odebrecht they were susceptible to bribes.

There is no proof that it is so

There is no proof that it is so

But in Brazil at this moment it is enough to drop the possible crime. The minister of finance and responsible for the policy of trying to lower rates in the first government of Dilma Rousseff, Guido Mantega, vilified in the media for being the architect of the economic disaster in Brazil, was arrested last week and forced to testify before a prosecutor in Sao Paulo accused corruption. “There is a climate of persecution,” said journalist Luis Nassif

It is the price that there is to pay to stand up to the banks, the markets and the old Brazilian elite. “Brazil suffers from a disease called financing; the banks act like pimps of prostitution, live on treasury operations; asking for very high interest rates in the real economy; the profits of the banks have been colossal, “said Roberto Freitas, economist at ECLAC in Brasila. This included the international bank Santander, for example, earned almost a third of its profits in Brazil during the years before the crisis.

Mantega launched a new strategy called the New economic matrix , which aimed to lower rates, lower the exchange rate to improve the competitiveness of the Brazilian economy after the collapse of the price of raw materials, control prices and stimulate private investment by selective fiscal stimulus The error of maintaining, could be trying to do all this at the same time. ¨ “Forcing banks to lower interest rates was a great idea and lowering the exchange rate, but it also had to tighten fiscal policy,” said Freitas. Other economists like Ricardo Suma, believe that the error was to lower the exchange rate. Either way, the result was galloping inflation and recession. Then Dilma took a 180 degree turn and named the orthodox Joaquim Levy to make a hard adjustment very similar to the one he is proposing right now. After losing the support of the middle classes, that last turn to the right diminished their support in the popular classes.

According to Lula’s former advisor André Singer 

According to Lula

Rousseff calculated that if he bet on the productive economy, the large industrial companies grouped in the Federation of the powerful industry of Sao Paulo (FIESP) would protect it in its pulse against banking and the financial markets. It was a catastrophic mistake. The industrialists are no longer enemies of financiers neither in Brazil nor in any country. The huge omnipresent yellow duck in the large demonstrations pro impeachment in São Paulo’s Sao Paulo Avenue was a gift from FIESP, one of the main drivers of what Dilma describes as a coup.

Do you know the misnamed, but very rich, wild rice?

Image result for zizania aquaticaToday I will not rant, I will be good and I will focus on praising the virtues, more organoleptic than nutritional, of a relatively little known product . It is called popularly as ” wild rice “. Being purists, this nomenclature does not conform to reality because the grains that are normally sold to us under this name belong to a species that although it belongs to the Poaceae family, like rice, it does not share gender with it . As you know, rice belongs to the Oryza sativa species, however the species that are sold to us as “wild rice” belong to the Zizania genus , and more specifically to two characteristic species, Zizania palustris and Zizania aquatica .

 

As you can see it is another plant, of another species and therefore of another product although for its similarity in the form with the rice of all life we ​​refer to it as “rice”. The truth is that it receives many other names, which are “their own” although here in Spain they are almost never used. Thus, ” wild rice ” is actually called ” manomín “, ” zizania ” or ” grain of water “.

In fact it is a little used product and known in our daily kitchen but that does not mean that, at the same time, it can be found with some ease in some supermarkets. A few years ago, some “white marks” of some food distribution companies sold it as such and I suppose that due to the little pull of their sales, they began to market it mixed with other types of rice . But the price did not change and being as it is a relatively expensive product if we compare it with rice, the one that you “adulterate” (understand the expression) with normal rice, as it is not of receipt . However, as far as I know, you can still find “arroz savaje” as such and without more in packages of 250g at a rate of around € 3 and peak (I already said that it is not economical if we compare it with rice) .

Image result for zizania aquatica cookedIn my case I have to admit that I have not known it for a long time, only for about 5 years, but I have become fond of it , it has an aromatic perfume (it reminds me of black tea) and if it is cooked properly, “Al dente”, it is crunchy and very nice. In my case I usually consume it mixing it with other preparations of white and / or whole rice in the same recipe. It combines perfectly with vegetable rice (celery, onion, carrot, peppers, mushrooms …) and I like to sauté it with soy sauce , or accompany it with a homemade curry or ” ras al honut “. It serves as a starter, although it can also be served in salads or as an accompaniment to meats, eggs or fish, thus having a succulent and complete “single dish”.

When I cook it , as I always accompany it with other rice, what I usually do is put it in the water “cold” while I put it to boil in the pan, then, when it boils, add the normal rice , let it cook normally 10 minutes that requires the rice that I usually use, I drain past this time and sauté as we like, like or we can (by virtue of the ingredients that are at home)

From a nutritional point of view this product stands out in comparison with traditional white rice, for its protein richness (up to 11% against 7% of the white, all in raw) and above all for the contribution of fiber : 6, 1g of fiber in 100g of “wild rice”, compared to 0.3g in polished rice and 1.2g in whole grain.

The ECB leaves Spain and Italy in a limit situation and triggers the debt

 

Image result for ecb

Mario Draghi , the president of the ECB , clashed yesterday in Frankfurt against the new Berlin wall. The Italian was left without being able to announce the “sufficient” response that with so much seismic repercussion had evoked a week before to appease the euro crisis. He had to console himself with announcing for September hypothetical purchases, conditioned by the rejection of Germany, of bonds of Spain and Italy, with the hope that this diffuse promise reassured the markets. We will see.

In exchange for such a timid announcement, Draghi ended up asking the governments of Spain and Italy, which he seeks to help with his proposal to purchase debt, to request assistance from the European Stability Fund , a camouflaged rescue, under “strict conditionality”. And even in that case, Draghi clarified, one would have to convince the Bundesbank, the German central bank, to accept in this new scenario that the ECB bought debt bonds in the market. In summary, what the ECB council agreed to yesterday is an “orientation.” The monetary policy committee, the risk committee and the market committee will work on this orientation and then we will make a final decision. Unsustainable for Spain and Italy.

With that deplorable panorama, pressured towards the rescue, the respective heads of Government of Spain and Italy, Mariano Rajoy and Mario Monti, fell headlong at a press conference scheduled for days before, when things seemed to paint better. The Italian, disheveled, after a tour of the Globetrotters across half of Europe in search of support that did not materialize yesterday, and subjected to enormous internal wear and tear; Condemned to return to Rome empty despite having a compatriot at the head of the ECB. Rajoy, also touched, and inconcrete in his answers. They both took advantage of the forms, consoling themselves with the fact that Draghi had announced that there would be debt purchases, thus avoiding conditionality and that the ECB will have to discuss the matter again in September. An additional element is the ECB’s recognition that the risk premiums of the two countries not only do not reflect the strength of their economies, but include the punishment for the global weakness of the euro as a project, a message that both Rajoy and Monti have come repeating insistently during the last months. In any case, taking into account the speed of the markets, the cost of the debt and the liquidity reserves of the Spanish Treasury, one can evoke the famous phrase of Keynes: “In the long term, we are all dead”.

Disappointing Decision

The Italian responded with a weak “I do not know if it will be requested (the help), we will have to see the modalities” to the question of whether it was proposed to request the ransom. Galician, as usual, avoided responding to journalists who repeatedly asked him about the matter. To the disappointment of both, the ECB’s decision had already returned the risk premiums (interest rate difference of the 10-year bond with respect to German) of the two countries to their usual unsustainable heights. Towards disaster. It is worth remembering that when the ECB approved its first bond purchase program in Spain and Italy, and sent letters to the then heads of government, José Luis Rodríguez Zapatero and Silvio Berlusconi, just a year ago, on August 5 of 2011, the risk premium on Spanish debt was 369 points. Yesterday it was again dangerously looming into the abyss of the 600. The debacle in the markets was resounding. As the experience anticipated, Germany did not change its position despite the optimism with which some had received the silences of Angela Merkel and the paternalistic statements of its Finance Minister, Wolfgang Schäuble, praising the reforms of the troubled southern partners.

Jens Weidmann, the president of the Bundesbank , the German central bank, emerged victorious over Draghi. He went to the battlefield of Frankfurt, where the ECB lies beleaguered, surrounded by a good part of the German economic and political elite, which does not hide his lack of respect for the Italian head of the central bank. Also from the central bankers of the countries closest to the orbit of the old German mark. Draghi, on the other hand, had the hope of Italians, Spaniards and French. Plus the support of Timothy Geithner, the US Treasury Secretary. that despite its good will “does not understand much what happens in the eurozone,” as an informed source maintains on the content of the recent journey of the American by Berlin, Frankfurt and Paris.

Draghi tried a conciliatory movement not openly proposing the immediate purchase of debt and conditioning it to the previous rescue. In the end, it was agreed to study everything, but without any commitment, which did not prevent Weidmann from expressing his reservation, as Draghi himself acknowledged. Starting today, the markets will have the floor. If the vague promises manage to reassure investors for a few days, what was decided yesterday by the ECB will have the same validity time. If, on the other hand, the indentation of the debt and the stock markets continues at the rate of yesterday, it will again be an August of infarction and nobody should rule out emergency meetings this same weekend to avoid the final disaster.

Why do I need a credit card?

Many foreign companies, including car rental companies, airlines, hotel companies and the like, offer only credit card payments. Especially for car rental bookings, this applies in parallel as deposit deposit, the amount is not debited, but still blocked in the disposition frame. So especially if you are traveling outside the Eurozone, you will not be able to use the traditional means of payment. In addition, cash often does not have the status as you are used to in Germany. Sometimes the credit card also opens doors and gates, such as in tourist areas.

How safe is a credit card?

<i ></i> How safe is a credit card?

Of course, the most important distinguishing feature is the credit card number itself. On the back there are also card verification numbers which are used when paying with the card over the Internet. Depending on the provider, these characteristics are called CVC2 or CVV2. So you have to additionally legitimize it. And since these check digits have no relation to the credit card number, they are therefore not manipulable. This is because the payment processes are routed via separate pages to the server of the credit card company, which can check all the information. There are also holograms that are visible as a security feature in everyday business. For example with UV radiation.

 

How can I charge my credit card?

<i ></i> How can I charge my credit card?

 

With the credit cards, which additionally have a credit function, this is done by means of bank transfer. With the SEPA conversion, almost all credit cards have an account with a unique IBAN and BIC set up. The bank will give you the personal account number with the monthly statements. If you can keep the credit card account in the credit, any amount can be easily transferred from the reference account. Many banks require that credit card holders and account holders (reference account) must be identical.

 

 

 

How can I query the sales of my credit card?

 

Many credit card companies inform you via SMS or e-mail about every single transaction. For others, there are online accounts, which, depending on their processing, will list the current transactions in the billing cycle with a few days delay. Virtually everywhere there are telephone hotlines, which are not only intended as customer service, but can identify legitimate current transactions.

 

I lost my card – what now?

<i ></i> I lost my card - what now?

 

If, despite everything, you feel that your credit card details are misused or have lost your card, immediately have your credit card blocked. In addition to the number of the issuing body, you can also dial 116 116. The call for the nationwide blocked number is free in Germany.

 

 

 

 

What is a credit card without SCHUFA?

<i ></i> What is a credit card without SCHUFA?

 

As their name implies, the credit card is given a small loan. It may therefore be difficult for people with a negative SCHUFA entry to get a credit card. For them there is an alternative, the so-called credit card without SCHUFA. This variant is also known as a credit or prepaid credit card, because no loan is granted here.

Rather, the owner of a credit card without SCHUFA pays an amount in advance on an account connected to the card, which he can then spend. The prerequisite is that the respective acceptance point is connected online. So this variant also offers protection against over-indebtedness. Due to their functionality, the credit card without SCHUFA is also suitable for children and adolescents as well as for all people who would like to have a precise overview of their finances.

It is offered by many well-known companies, partly the credit card can be purchased free of charge. As with all other variants, a credit card comparison is urgently advisable. In addition to the usual factors, prospective buyers should pay special attention to transaction and recharge fees when assessing such a credit card in comparison to others. The good news: Some credit card providers without Schufa pay interest on the credit.

 

Is there a minimum amount for payments?

<i ></i> Is there a minimum amount for payments?

 

There is usually no minimum amount to which your payment is tied. For some acceptance points, credit card payments may still be tied to a certain purchase price.

 

Can I also pay higher amounts with my card?

 

Especially with higher amounts, the payment with a credit card makes sense: So you need not unnecessarily have a lot of cash with you. As a rule, there are no flat-rate payments. However, they only have a certain personal scope per month. Depending on your credit rating, you can agree to these limits with the card issuing bank or institution.

 

What are the fees for cash withdrawals?

<i ></i> What are the fees for cash withdrawals?

 

Cash withdrawals on a credit card can incur very different fees per card provider. Domestically, rates are generally different from those in foreign countries, where even abroad may be due. Another big difference is the cash withdrawal at the machine or counter. The way through the personal care at the counter is usually more expensive. With some offers the cash withdrawal is also fundamentally free of charge. A comparison is worthwhile.

 

 

 

What arrangements do I have to make while traveling?

 

Before beginning your trip, check if your credit card is valid for the entire period of the trip. Also, be sure to check the credit card limit, taking into account payments made before the trip (such as hotel or flight bookings). For your safety, you should carry a copy of the credit card and have the service number for a lock at hand.

 

What does the insurance cover of my credit card include?

<i ></i> What does the insurance cover of my credit card include?

 

That depends on the service offered by your card issuing bank. The banks individually put together the additional benefits such as insurance. The offer is often kept deliberately opaque. In addition, some insurance policies are effective only under certain conditions, for example, if the flight was paid with a credit card for a transport insurance. Other insurance, such as travel insurance, is superfluous if you have a common liability insurance.

 

Is an additional card useful?

 

Additional or partner cards can be issued to family members and partners. Thus, annual fees can be saved, as these are often calculated cheaper with additional cards. The billing is done separately for each card, but the transactions of the additional cards are made via the account of the main cardholder.

 

Can I make a phone call with a credit card?

<i ></i> Can I make a phone call with a credit card?

 

Some card-issuing banks offer the possibility of calling by credit card at home and abroad. You can then call from any phone worldwide with a personal code and the card number. The fees are listed on your monthly statement. In hotels abroad, it can be much cheaper to use the credit card for calling. In Germany, on the other hand, this service hardly pays off.

 

What does the credit card number mean?

<i ></i> What does the credit card number mean?

 

The credit card number on the front is unique. She has twelve to 16 digits and clearly identifies the card. The owner of the card confirms with his signature or a PIN, the personal identification number, depending on the type of transaction. Relatively new is still the credit card number on the back, the so-called check digit. These three numbers must be specified on most Internet and telephone transactions and provide additional security instead of signature and PIN.

 

What should I look for when paying for my credit card?

<i ></i> What should I look for when paying for my credit card?

 

As tempting as it may sometimes be, you should not ignore your credit card statement, but check it out as soon as it arrives. The following procedure is recommended:

  • You should print an online invoice – so you can post it after checking and later access it again if necessary.
  • Carefully review each item on your credit card statement and refer to the original invoice for any ambiguity.
  • In case of discrepancies contact your bank immediately, the contact details are on the credit card statement. Keep in mind that your appeal period is usually only four to six weeks.

 

Referendum: The Council of Ministers, live

The Council of Ministers, live

the government spokesman, Íñigo Méndez de Vigo, has assured that it is “sarcastic” that Puigdemont is now asking for dialogue and has assured that the Executive has not received the letter from the president of the Generalitat. 14:13 So, the Government has given an ultimatum of 48 hours to the Generalitat before intervening their accounts by 1-O. The Treasury establishes a “payment control” and will directly pay the payroll and other services if the Government does not adopt a “budget unavailability agreement”. 14:11 One of the measures adopted is, therefore, the requirement to the president of the Generalitat, Carles Puigdemont, so that within a period of 48 hours he renounces control of the part of his budget that does not affect public services, or the Government will intervene the accounts. 14:08 In summary, the Government has announced that it will assume the payments of the Generalitat to avoid that the money goes to any act related to the referendum on October 1 . 14:05 The government spokesman closes the press conference after the Council of Ministers with cultural recommendations.

14:03 “The Government does not rule out anything, we act firmly as the secessionists act,” says the Government spokesman regarding the possibility of applying Article 155. 14:01 “As the Minister of Finance has said, with these measures What we are doing is preserving the right of all Catalans.This is the situation we are in and it is the situation in which we are going to move, “insists the government spokesman at the press conference after the Council of Ministers . 13:59 “Anyone who reads the sentences of the Constitutional Court knows that this referendum is illegal, and the President of the Government can not turn something illegal into something legal, it does not belong to him, it is not contemplated either in our constitution or in any other from a nearby country, “says Méndez de Vigo . 13:58 Méndez de Vigo repeats that they have not received the letter in the Moncloa, and assures that other times they have not finished receiving letters that had been announced in the media. 13:54 “In politics and in life everyone is responsible for their actions, I have read that the Mayor of Barcelona has reached an agreement with the Generalitat, and in these cases, either the law is in force or the against the law, the keys are not left and I do not want to know anything, and links this with what we are seeing in the last months in general in Podemos, “states Méndez de Vigo.

13:52 “If an activity is illegal, no public euro can go to finance it, but neither can it be private, in the sense that there can not be any private that says, ‘do not worry, I’ll do it to you’. An illegal referendum can not have any financing, be it public or private, “says Montoro. 13:50 “Not one euro of the Catalans will go to an illegal referendum,” says the Government spokesman, Íñigo Méndez de Vigo . 13:50 “Every month Catalonia is receiving 1,400 million euros for the size of its budget, but the conditionality is the same, a control of legality, and we must ask ourselves: who is bothered by the control of legality? rare wants to do with the public budget? “, says Montoro. 13:48 “The FLA is paying directly to suppliers, not only in Catalonia, but in all the autonomous communities that take part in the program, it does not go to the autonomous community,” says the Minister of Finance. 13:47 “The government was asking for information on the control of legality, is this an inconvenience for a political leader responsible for the management of public resources? The measures we took in July were an extension of November 2015”, continues Montoro.

I have called it payment control, if you qualify it as an intervention

, I will not qualify it, because the press will define it in different areas.” From there, what we established in July It was an extension of the information conditions that we had already established in November 2015, and we did it in July, under the legislation of the Government’s financing mechanisms, “says Cristóbal Montoro . 13:43 “It means that the State goes on to pay a good part of the payroll, yes,

it is a control of payments During the duration of this situation of exceptionality, which is marked by the leaders of the Generalitat, as long as they continue to refuse to comply the law, they are the ones that put at risk the provision of public services, “says the Minister of Finance. 13:42 Ask Montoro what this looks like and how it differs from an intervention 13:41 “We are applying the Budget Stability Law, which is the one that empowers the Government to take exceptional measures, and regarding this, it is impossible that the Generalitat does not comply, because the responsibility is what, for not complying will tell us not to pay for public services? We are convinced that they will comply, “says Montoro at the press conference after the meeting of the Council of Ministers 13:38 “This government has always been consistent in its line of action, dialogue, yes, but dialogue within the law,” says the government spokesman.

13:38 “” President Puigdemont also did not attend the Congress of Deputies. You can not talk about what one is not competent. And this explanation has been given to the political leaders of the Generalitat, “says Méndez de Vigo, 13:36 ” This Government can not modify the Constitution. That is why Mr. Puigdemont was invited to come to the Senate to talk about matters that matter, but Mr. Puigdemont left the chair of Catalonia empty, “continues the government spokesman, 13:36 ” whenever the vice president has tried to talk to those responsible Catalan politicians on the 45 issues that are important for the lives of Catalans, has met with disinterest. Because the only thing that interested them is a referendum, or yes , “said Mendez de Vigo.

13:34 Government spokesman says the government has not received the letter, adding that knows only what has been read in the media. 13 : 34 “The government does not prevent acts, it is the judicial authorities that do it. Many times what they do is to say that an act is illegal and that has some procedures and forms. Because we live in a State of Law and we must guarantee the rights of all citizens, “says Méndez de Vigo.

 A journalist asks why the government did not prevent the campaign

&nbsp;A journalist asks why the government did not prevent the campaign

the referendum yesterday in Tarragona and also on the letter sent to Mariano Rajoy asking for a dialogue 13:32 “Obviously this situation has been sent to the Prosecutor’s Office”, assures the Minister of Finance in the press conference after the Council of Ministers . 13:31 “What has happened is that, as you know, the vice president of the Generalitat addresses the minister to tell him that they will not present the information to which they are bound, and this seems to me to qualify only,” says Montoro . 13:29 “Keep in mind that in an ordinary month, an autonomous community like Catalonia has resources of 240 million euros, and what we are estimating in the order of financing is 1,400 million euros, but with the payment certificates corresponding “, details Montoro. 13:28 “First of all, I would like to tell you that I am going to appear in the Congress of Deputies next week to explain the content and scope of these measures, as it should be in a democracy,” says Montoro, who assures that this will begin of next week.

13:26 The round of questions from the journalists begins. 13:26 “We are not replacing competitions, we are guaranteeing that no payment from that administration goes to illegal activity,” Montoro states. 13:25 “We can not trust authorities who say they are committed to the objectives of deficit control, but on their own,” the minister added in the press conference after the Council of Ministers , who said that “this is not admissible, neither legitimate nor reliable “. 13:24 “Finally all the bills of the providers of public services of the autonomous community must be presented to the general direction of the State, they are actions that what they do is guarantee the public service to the maximum and are made in favor of the citizens Catalans, “says Montoro. 13:23 “We will also insist that the Generalitat can not pay any type of payment that is not sufficiently accredited and we will work so that no payment of this type can be made,” the Finance Minister said.

The autonomous community must inform the State of all pending loans

The autonomous community must inform the State of all pending loans

the minister continues, arguing that the objective is to verify that funds are not being used for illegal activities. 13:21 “It is a system by which the State replaces the autonomous government in most of the payments”, assures Montoro in the press conference after the Council of Ministers . 13:20 “The defense of the law itself is at stake, and before that, what we have done is to take a series of agreements that establish a novel cost control system,” continues Montoro. 13:19 “The Government has established a payment control mechanism to guarantee the public services of the Catalans”, assures Montoro, who adds that the control of payments is to guarantee that there will be no funds destined to illegal activities. 13:18 The Minister of Finance, Cristóbal Montoro, intervenes now

13:18 “Likewise, the Council of Ministers has heard a report from the Foreign Minister on the Brexit negotiations,” continues Méndez de Vigo, who notes that the negotiations are late compared to the planned schedule, adding that the Spanish position is aligned with the rest of European partners. 13:17 In the press conference after the Council of Ministers , the government spokesman now exposes an agreement for broadband in schools. 13:16 Explain that the vice president of the Government and the president of the community of Aragon will sign this agreement soon. 13:15 Talk now about economic agreements in relation to the province of Teruel, which says it is a disadvantaged province within Aragon. 13:14 speaks of the intervention of the president of the European Commission, Jean-Claude Juncker, and ensures that everyone in the community have argued that the constitution of a country is part of the framework of concord. “I ask everyone to have confidence in the strength of democracy,” he emphasizes.

The main associations of judges have pronounced themselves

The main associations of judges have pronounced themselves

on the situation in Catalonia and they have done so unequivocally in favor of the rule of law,” says Méndez de Vigo at the press conference after the Council of Ministers . 13:11 “The answer of the Rule of Law is the guarantee of our rights and our freedoms, the Government will preserve the harmony, because it is important to preserve it, and it does not want to further fragment the social equilibrium, damaged”, says the Government spokesman . 13:11 “Today many Catalans suffer discrimination and are treated as subjects,” says Méndez de Vigo, who adds that in the debates of last week in the Parliament a minority deprived “of the most elementary rights and of the representative function to whom they do not share the secessionist vision “. 13:09 “The Government wants the Diada again be a day for all Catalans with the same flag,” says the Government spokesman. 13:09 The government spokesman speaks of the Diada at the press conference after the Council of Ministers and says it has become “a demonstration of the social division in Catalonia, because a minority has appropriated it. not a flag, which is the flag that unites all Catalans. “

13:07 “After the appeal, the Constitutional Court has suspended said law, therefore that law has no legal value,” says Méndez de Vigo. 13:07 Secondly, he talks about the suspension of the Law on Legal and Fundamental Transition of the Republic that was approved last week in the Parliament. 13:06 The government spokesman and Minister of Education, Culture and Sports, Íñigo Méndez de Vigo, begins the press conference by showing his solidarity with the victims of the terrorist act in London. 13:05 The press conference begins after the Council of Ministers 13:04 In the letter, Catalan leaders remind the central government that there is a large majority in the society of Catalonia that calls for resolving the conflict through the referendum and demand Rajoy to open the path of dialogue when just over two weeks to October 1 .

this Friday, Junqueras together with the President of the Generalitat

this Friday, Junqueras together with the President of the Generalitat

Carles Puigdemont, the President of the Parliament, Carme Forcadell and the Mayor of Barcelona, ​​Ada Colau, have sent a letter to the King and the Prime Minister, Mariano Rajoy , in which they make “a new call to dialogue to the Spanish Government” to give an outlet to the Catalan question. 13:00 In addition, in the text, the minister reminds Junqueras that the laws passed last week by the Parliament for October 1 on which it is based not to send information on expenses, have been suspended by the Constitutional Court and, therefore, “they are not in force nor do they protect any action”. 12:59 Montoro also reminded Junqueras that sending the required information, which the government requires to avoid public money being destined for the referendum , derives from the commitment voluntarily acquired by Catalonia when joining the financing mechanism. 12:56 The Council of Ministers , whose press conference will continue live from La Vanguardia, plans to analyze this issue on Friday and approve measures to ensure compliance with the law. 12:53 “The decisions of the Government of Spain are aimed at compliance with the principles of budgetary stability and financial sustainability set out in the Constitution,” stresses the minister.

12:49 In light of Junqueras’ argument that the obligation presupposes political control, the Minister of Finance has indicated that this is a measure to control the management and use of public resources and, “in short, the legality to guarantee the financing of fundamental public services “. 12:45 Press conference after the Council of Ministers, live:

Good morning and welcome to follow this political day in La Vanguardia.

Good morning and welcome to follow this political day in La Vanguardia.

After the decision of the Vice-president of the Generalitat and Conseller of Economy, Oriol Junqueras, to send this Thursday a letter to the minister of Property announcing that they will not return the weekly report of expenses that demanded the Executive, it is foreseen that the new announcements will be announced today expenditure control measures proposed by the Government.

For now, the Finance Minister, Cristóbal Montoro, has also responded by letter to Junqueras and warned him that if he does not send the information that is required on the expenses of the Generalitat, the Government will “adopt the necessary measures” to that complies with current legislation.