The EU wants the big banks are more controlled

The European Union wants to give national regulators more power to limit the risk of banks deemed "too big to fail" as part of its plan to protect the public finances of future financial crises.
In particular, the EU is looking for supervisors, as the Bank of Spain, new products may block, restrict the claims or force these banks considered systemic to leave some businesses, according to a draft proposal cited Bloomberg.

In Spain, one such regulation would affect at least Santander and BBVA, the two entities considered "at risk of systemic spread to other entities for its large size if they have problems-for the G20 last November and the EU Banks controller .

EU Banks controller

National banking regulators could require "a change of legal and operational structures" to entities that need "extraordinary financial aid"during a crisis, says the specializing in economic data.

"They are saying clearly between the lines that if you believe that any institution is too risky to be rescued could be segregated, "says a legal expert in financial regulation at Bloomberg and the EU Banks controller .Depending on the environment, it is expected that the European Commission to present this draft, which is dated in December, this week. Later, you hear the view of banks, consumers and investors before submitting a final proposal to discuss with the 27 EU members this year.
European countries have had to spend more than $ 5 billion -3.7 billion euros to help banks since the financial crisis that erupted with the collapse of Lehman Brothers in 2008 and the EU Banks controller .

The financial balance with the EU Spain increased almost fivefold in 2010

The financial relations between Spain and the European Union recorded a surplus in 2010 for Spain to 2730.86 million, 2153.11 million more than the 577.74 million expected for this year , so that the balance increased almost fivefold.

Under the bill the State Budget presented today in Congress, this increase is justified by the increase in transfers to get from the Union in 2211.44 million, while Spain's contribution to the EU accounts rises at only 58.32 million euros.

As regards the Structural Funds, the main instrument of EU cohesion policy, Spain will receive 5170.06 million euros, 44.46% more than planned for 2009.

Of these, 4027.33 million from the European Regional Development Fund (ERDF), while the remaining $ 1142.73 will come from the European Social Fund (ESF), with increases of 62.3% and 4%, respectively.

Within regional policies, Spain will receive in respect of the Cohesion Fund 1845.09 million euros, 37.61% more.

Furthermore, Spain will also receive other 7407.04 million for various agricultural and fisheries funds.

Thus, the Agricultural Guarantee Fund (EAGF) and the European Agricultural Fund for Rural Development (EAFRD), which since October 2006, replacing the former European Agricultural Guidance and Guarantee Fund (EAGGF) for Spain 6075.04 and 1.332 million respectively.

The European Fisheries Fund (EFF), which also replaced two years ago the Financial Instrument for Fisheries Guidance (FIFG), will provide an allocation of 140 million, 40 more than this year.

As for the Spanish contribution to EU coffers, rising 0.47% to 12,421.34 million euros, most, 12,200 million, is dedicated to the general EU budget.

European Development Fund (EDF), which channels aid to development cooperation, Spain allocated 218.42 million, 3.52% more.

Within the Spanish contribution to the EU budget, the largest item, 9,000 million euros, corresponding to the Gross National Income (GNI), which increases to 16.13% for this exercise.

Another 1,600 million will be contributed by way of traditional own resources (based mainly on customs duties), which decrease 20% compared to 2009, while the contribution of the VAT resource also sum of 1,600 million euros, 33.33 % less.

For the third time, under Article 228.2 of the Treaty on European Union (TEU), is incorporated into the budget a contribution to finance the expected penalty payments that Spain must pay for not implementing certain decisions of the Court, a sum which sum 0, 01 million euros.

The Spanish contribution to EU coffers are full with 2.31 million to finance the provision of interpretation services at the various meetings of the Council of Ministers of the EU.