European Central Bank

In Europe only Germany, it low with a slight 0.11% in red. The entry in Tripoli of Libyan rebels drives the energy sector. Major European stock markets have closed the session on Monday with more than 1% average earnings except in Frankfurt, which has closed in red with a drop of 0.11%. Madrid has led the gains. Despite this recovery, remains the uncertainty in stock markets with regard to the progress of the global economy and the European debt crisis. Last Thursday ended with a few strong declines, which in the case of Paris and Frankfurt were recorded them the largest since 2008 and for the Ibex-35 index this week was the second worst of the year. Europe Madrid bags has led gains with a 1.87%, closely followed by Italy with 1.78%. Paris, with a 1.14%, and London, 1.08% green, finished virtually couples.

The Ibex-35, has advanced 152 points to 8.293,90 points. Losses accumulated this year are relegated to 15.88%. All the great values of the Ibex-35 rose: Iberdrola won 3.73%, the fourth largest rise in the IBEX; Repsol, the 2.78 percent; Telefonica, 2.53%; BBVA, 1.16%, and Banco Santander, 0.8%. The input rebels in Tripoli to the Libyan President, Muammar el-Qaddafi, ate the price of the oil companies and other companies in the energy sector, such as Eni (5.2%), Total (3.7%) and OMV (4%), benefited from tensions in Libya. While it was known that the European Central Bank (ECB) had bought last week public debt amounting to 14,291 million euros and Germany, backed by France and the European Council, reiterating their complete opposition to issue Eurobonds, the risk premium on Spanish remained stable.

Wall Street and Asia on the other side of the Atlantic, Wall Street left at beginning of day declines of last week and its main indicator, the Dow Jones de Industriales, climbed after the opening, encouraged by the bullish trend which showed the European parks and the prospect of the end of the Libyan conflict. The Nikkei in Tokyo closed with a fall 1% at its lowest level of the past 5 months, due to the strength of the yen, reached on Friday its maximum value against the dollar since the end of World War II. The Seoul stock exchange lost nearly 2% and that of Shanghai a 0.73% did so. The recovery of the developed countries has been challenged by entities such as banks Jp Morgan and Morgan Stanley and institutions as the Organization for cooperation and economic development (OECD) and the statistical office Eurostat, which has registered a stagnation in the seven most industrialized countries. Gold has returned to beat new maximum values before the search of security among investors and round the 1.874,4 dollars per ounce. Source of the news: the Ibex-35 leading European rise after its second worst week of the year burastil

Belgian Finance Minister

Economy of the Eurogroup ministers fail to reach an agreement after nearly seven hours of meeting in Luxembourg. They say they need before a clear commitment to the Greek Parliament. Expected diesen green light to the payment of the fifth tranche of the current 110,000 billion bailout, which will oscillate between 12,000 and 18,000 million euros. Greeks vote in rrendum political reforms. The euro zone finance ministers closed at dawn on Monday without agreement the meeting intended to unlock the fifth tranche of the bailout to Greece, as the Spanish Minister of economy and finance, was confirmed by Elena Salgado. It has been impossible to decide today on the disbursement, the Belgian Finance Minister, Didier Reynders, in statements to the press, said once the Eurogroup concluded its extraordinary meeting in Luxembourg, after nearly seven hours of negotiations. It was impossible to make a decision because we first need a clear decision by the Greek Parliament.

At the beginning of July we will decide, and organize the disbursement in the middle of that month, Reynders said. I can not imagine not for a second that we can commit to finance Greece without a commitment of the Greek authorities with the program, said for his part the President of the Eurogroup, Jean-Claude Juncker. In this meeting, expected that Ministers give green light to the payment of the fifth tranche of the current rescue of 110 billion approved for the country hellene, a stretch that will oscillate between 12,000 and 18,000 million euros. In principle, negotiation had been cleared of its biggest obstacle after the Pact reached last Friday between France and Germany on the participation of private banks. Agreement on the private sector about the involvement of the private sector, Juncker said that in this respect progress has been very NET with respect to the last few weeks, because, he said, the Eurogroup has accepted the Franco-German agreement of opting for a voluntary participation. Elena Salgado was considered, in turn, it would have been desirable that (the money) was today but explained that, in his view, have it ready in July is sufficient. Said it the IMF and us also, Salgado stressed.

No quantity is put in question the. But this disbursement is not approved until certain conditions have not been studied for the new program, that session of Parliament has not been conducted and the Greek authorities are not committed to the participation of private voluntary sector, said the Spanish Minister. The communique adopted by the Ministers explained that it will seek the participation of sector private so that Greek creditors sign an informal and voluntary new debt of the country depending on whether you beating they have in portfolio, avoiding a selective suspension of payments to Greece.

British Union Unite

An email sent by mistake reveals the salary of 3,000 casual workers of the Royal Bank of Scotland. The Bank was rescued by 22 billion euros in 2008. An email sent by mistake has revealed that some of the temporary workers of the involved Bank Royal Bank of Scotland (RBS) charge 2,000 pounds a day (about 2,290 euros), which has led to criticism from unions and the opposition. Document attached by mistake and sent to more than 800 recipients for one of the employees of the company of temporary work contained the salaries of 3,000 casual workers of the British Bank, The Times newspaper reported Wednesday. The amounts charged by some of the contracted amounted to 2,000 pounds per day, equivalent to 500,000 pounds (530,000 euros) a year, which has caused discomfort among the trade unions and the Labour Party, since this bank was operated by the British Government, which owns 83 percent of its shares currently. He was one of the rescued in 2008 by the British State, which disbursed 20 billion pounds (about 22,000 million euros) to avoid the collapse of a financial institution which could not digest the toxic assets they acquired. Unions and politicians anonadados higher fees correspond to workers specializing in accounting, finance and information technology, according to The Times.

The British Union Unite recalled that the RBS recently announced plans to lay off 2,000 employees in the next 18 months. Responsible for the David Fleming Union has criticized that the Bank use temporary contracts instead of investing in training for their workers from template. It is totally inappropriate that the RBS, rescued with taxpayers ‘ money, give the impression that throws money in thousands of temporary engagements, has said the trade unionist. The Chris Leslie labour has said that many of the employees of the Bank will be harmed by expensive temporary contracts that replace full-time workers.