Zapatero criticizes “absolute madness” that Spain may need EU assistance

  • For the President of the Government, speculation that Spain could end up like Greece is a "huge nonsense".
  • The rumors have caused a collapse of the Ibex 35.
  • The IMF has denied the rumors that equated Spain with Greece.
José Luis Rodríguez Zapatero

José Luis Rodríguez Zapatero, gesticulates during the press conference he offered after meeting with the presidents of the European Council. Olivier Hoslet / EFE

The presider of the Spanish government, José Luis Rodríguez Zapatero, described on Tuesday as "absolute madness" and "huge nonsense" the speculations that Spain may need in future EU aid, such as Greece, and demanded that attention be paid to the data and facts.

At a press conference in Brussels after meeting with the presidents of the European Council, Herman Van Rompuy, and the Commission, Jose Manuel Durao Barroso, Zapatero denounced in particular the rumor that Spain could need up to 280,000 million euros , which caused this Tuesday an important fall in the Stock Exchange.

After committing himself to "combat" that kind of speculation, he assured that he is calm and has " confidence" in the "strength and solvency of Spanish public accounts " and in his capacity for economic recovery. Zapatero acknowledged that they had told him that rumor and his answer was simple: "I do not give credit, I do not give credit".

We can not be all day speculation, we have to go to the facts In his view, the fact is "very serious" and "simply intolerable", because it can cause an immediate effect on the stock markets and increase the differential of the Spanish debt with respect to the German bond.

"We can not be all day paying attention to speculations, forecasts, hypotheses, what can happen, we have to go to the facts and data, " said Zapatero before recalling that the Spanish debt remains twenty points below of the community average . He also suggested that the first quarter may show positive growth data , which will be known in the coming days, and recalled that revenues have increased.

In his opinion, "confidence is produced with data and facts, not opinions, projections or forecasts" and against movements that are the result of short-term or insufficient information , the important thing, he said, is that the official indicators "guarantee the recovery and growth "

As an example of the speculation , he recalled that since the beginning of the crisis has been spoken of the risk of the Spanish financial sector, "one of what has resisted better", and denounced that now hear again " absolutely unfounded and disproportionate " on the risk of the real estate sector for banks and savings banks.

Any other speculation on the euro zone is absolutely unfounded and irresponsible Zapatero, who has appeared alone in the large press room of the European Council, ratified the support of the Eurogroup to Greece, which, he said, "has what it needs, so that those who have commitments with her can rest assured. "

In this context, he valued the sacrifice that Greek citizens will have to make and praised the responsibility and the "courage" of the Government of Giorgos Papandreou when launching a deficit reduction plan, fiscal consolidation and structural reforms.

After these assessments, he insisted that " any other speculation about the euro zone is absolutely unfounded and irresponsible" and stressed that all countries, including Spain and Portugal, have the necessary strength to overcome the crisis, consolidate their public accounts and return to a path of growth. In his opinion, the support to Greece supposes a pact of responsibility, credibility and solvency.

When the leaders of the Eurogroup meet this Friday in Brussels, he added, they will show that the European countries row in the same direction , "the direction of confidence, of the reduction of public deficits, of economic growth, of the gain in competitiveness and of shared responsibility. "

For its part and endorsing the words of Zapatero, the International Monetary Fund (IMF) denied on Tuesday that Spain has requested international aid , such as Greece, to guarantee the payment of its debt. " There is no truth in those rumors," said spokesman Bill Murray.

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6 savings tips at the end of the year: Where to get more money

Frankfurt / Main – If you want to save a lot of money by the end of the year, you can do so: options are available, for example, in the case of old-age provision, a change of tax class or car insurance. We show with 6 practical savings tips, what consumers can do.


Image: Young woman with piggy bank 

Tip 1: Car insurance – Use special right of termination

Drivers who want to switch to a cheaper motor vehicle insurer in 2016 still have to hurry: insured persons generally have to cancel their policies by 30 November. Shortly before the expiry of the period of notice for one-year car insurance prices fall. But even after the deadline, a change of insurance is possible: If the insurer increases the contributions, customers can make use of their special right of termination one month after receipt of the notification.

Tip 2: Pensions – Securing state Riester allowances

Riester savers should check before the end of the year, whether they have applied for all state allowances. After two years the claim expires – by the end of December at the latest the supplements for 2014 have to be applied for. A so-called permanent allowance application makes the annual applications superfluous.

Tip 3: Allowances – apply now

The net can also be increased by applying for allowances – for example for travel expenses to work, child care or domestic help. Employees must apply for their allowances by the end of the year if they are to be included from January. All changes to the wage tax features are requested at the tax office.

Tip 4: Investments – Prefer expenses and deduct from tax

Those who prefer certain expenses to the current year can save taxes. So it is sometimes worthwhile to bundle expenses that can be deducted as income-related expenses later this year, provided that they exceed the lump-sum limit of 1,000 euros. Because what goes beyond the employee’s lump sum in a calendar year can be claimed for tax purposes. The cost of income includes all professional expenses from work equipment to childcare.

Especially when you are in the middle of a major renovation, experts advise you to split the payment. Craftsman services are deductible up to 6,000 euros per year (of which a maximum of 1,200 euros), household-related services up to 4,000 euros (of which a maximum of 800 euros). The pure labor costs can be deducted pro rata with 20 percent of the tax burden. By paying in advance or by paying in advance, the costs can be spread over 2016 and 2017.

Tip 5: Donations – Reduce tax burden through donations

As special expenses, donations to church, charitable or charitable organizations and associations can lower the tax burden. Here, a maximum of 20 percent of the total income as a donation is possible – but only with a valid donation receipt.

Tip 6: Investment – offset losses with profits

Investors should check with their bank for interest and other capital gains exemptions. The distribution of the tax allowance can be adjusted until the end of December. For profits in excess of the allowance of € 801, investors must pay a flat-rate 25% withholding tax. for jointly assessed pairs, the allowance is € 1,602.

Anyone who has already thought of submitting a loss certificate to their bank by mid-December can reduce their burden even further. Losses from securities transactions can be offset at one bank with profits at another institution.


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