Economic Dialogue with Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness:

Type: News   Reference: 87892   Duration: 00:04:00  Lieu: Brussels, Belgium - European Parliament
End production: 12/11/2012   First transmission: 12/11/2012
- extracts from the exchange of views EP Committee on Economic and Monetary Affairs

Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 Exterior shot of the European Parliament, Brussels, Belgium (1 shot) 00:00:05
00:00:10 Interior, Arrival of Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness, (6 shots) 00:00:17
00:00:27 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "In December this profound exercise of banking restructuring and reorganisation that started in February will come have to a close. We will have a financial map with fewer banks from down from 50 to about a dozen, but there will the most solvent ones and they will be completely healthy. They will be therefore being able to finance the real economy." 00:00:26
00:00:53 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "As to fiscal policy, Spain is going to be reducing its deficit this year by more than 5 percentage points during an economic recession with a fall in the GDP, which is forecast at about 1,5 percent. Allow me to remind you the important measures that the government has already taken to overcome and to reduce its deficit in the future. On the revenue side 40% of the total effort, higher income tax and capital tax, wealth tax, higher rate of VAT, reduction of cooperate tax breaks and new environmental taxes." 00:00:49
00:01:42 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "The troubled assets will be transferred to the 'Bad bank' and there these assets would have a majority of 35 percent and I think in the next few days we get news how this is implementing the structure of financing of this 'Bad bank' and this will be important of the point of view of funding." 00:00:27
00:02:09 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "Obliviously what we have to take into consideration is that Europe is in a recession and that being so the fiscal policy of it has to be measured not in terms of nominal deficits but in terms of structural efforts." 00:00:17
00:02:26 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "In Spain we have about 1 Million empty houses, given that fact one million property, the government in accordance with the main opposition party, we are discussing that and we will see this afternoon what measures are going to be adopted. And I believe that it is vital that we get an agreement with the opposition and the government on this point. We do need to take measure to make sure that no family, no genuine applicant is evicted in these times of crisis and that is our commitment that is our promise. We are going to take measures and they will be finalised this afternoon to implement that." 00:00:49
00:03:15 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "Bankia after transferring the toxic assets to the Bad bank and after the receiving the capital injection that is going to be determined about the next weeks will be a healthy institution for the banking landscape in Spain." 00:00:19
00:03:34 SOUNDBITE (Spanish): Luis De GUINDOS JURADO, Spanish Minister of Economy and Competitiveness: "Spain's economic recovery is going to be very difficult or impossible until the doubts about the future of the Euro are cleared up." 00:00:12
00:03:46 cut away shots (4 shots) 00:00:14
00:04:00 END 00:00:00
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