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Vice President and Minister of Economy and Finance of the Government of the Canary Islands, José Manuel Scoria, has authorized the payment of the amount for the upgrade of the cost of the powers transferred to the Island Councils for the liquidation of the financial year 2007 amounting to 9524 EUR 468

Of the more than nine million euros, the Cabled de El Hero will receive EUR 329 154 for a single payment, the Cabled of Fuerteventura, 379 478 euros, the Cabled de Grin Canaries, 3,110,382 euros, the Cabled de Linarite, 340 465 euros, the Cabled de La Gomorra, 402 891 euros, the Cabled de La Palma, 1,248,562 euros and 3,713,536 euros Cabled de Tenerife, said the Ministry of Economy and Finance in a press release.

This amount is in addition to the first two periodic payments already made, that belong to the Corporations island to cover the costs of the powers transferred this year, 102.4 million euros, and the payment of other 6 8 million euros for the impact to the councils of improving the new system of financing of autonomous regions. In total, the executive has been transferred to the Canary Islands councils so far this year more than 133 million euros.

This economic boost is a reflection of the commitment by the Government of the Federation Canaries Canary Islands (Facial) and shows the concern of the Executive canary situation facing the Island Councils, despite the economic adjustment, which is immersed.

In particular, the Ministry of Finance has authorized the payment at the beginning of each quarter of this year’s 25 percent of the cost of the powers transferred to councils for 2010.

Thus, of 204 761 128 euros for this purpose throughout the year the Cabled de El Hero has received the second quarter of this year 1,759,937 euros, the Cabled of Fuerteventura 2,658,736.50 euros, the Cabled de Grin Canaries 17,886,827.75 euros, the Cabled de Linarite, 2,279,984.75 euros, the Cabled de La Gomorra, 2,128,558 euros, the Cabled de La Palma, EUR 5,508,302.75 and the Cabled de Tenerife, 18.967.935.25 euros.

Furthermore, it has also made the second payment this year because of the impact to the councils of improving the system of financing of the Autonomous Communities and Cities Joint Regime with the Statute of Autonomy. The total for the second quarter of 2010 amounts to EUR 3,272,927.11. The Cabled de Grin Canaries has received 1,142,927 euros, the Cabled de Linarite 35 247, the Cabled of Fuerteventura 184,596.25, the Cabled de Tenerife, 1,233,367.50 euros, the Cabled de La Palma, 395 018 euros, the Town Council La Gomorra, 152,665.25 euros, and the Cabled de El Hero, 129 106 euros.

Thus, the Government of the Canary Islands to a share of this additional funding councils established by Law 22/2009, which regulates the financing system of the autonomous communities, with repercussions on the same economic benefits derived from the recognition by the Act, a variation of the population between 1999 and 2009 positive, and also contributing to the proper provision of public services made by corporations island as a result of the powers transferred to the autonomous community to the councils.

Cava de Burgos was now “fully satisfied” with the authorization of the Government of Castile and Leon Civic joining Bank and said that this decision “represents a major milestone in shaping the Group and facilitates the cruising speed it wants to acquire for its implementation on 1 July. “

The Ministry of Economy and Employment announced this afternoon at Burgos entity authorized to accede to the Institutional Protection System (SIP) which is part of the integration of the Group that conform Cava de Burgos, Cava Navarre and Cava Canaries.

This communication also states the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and Spanish monetary authority, as the Ministry of Economy and Finance, said in a statement picked up by Europe Regional Government Press.

The authorization also involves compliance with all terms of the contract establishing the SIP. Cava de Burgos must submit periodic information for follow-up, the Ministry of Economy and Employment.

According to Europe Press reported Civic Banking sources, the Ministry of Finance also announced today the signing of the Ministerial Order authorizing the Group to operate, once it received a favorable report by the General Directorate of Treasury and Bank of Spain.

“In front are the relevant entries and other administrative processes to see Civic Banking SIP as the first bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future, “sources said

Civic Banking Group continues moving towards the beginning of its financial operations on 1 July. This afternoon, has announced the approval by the Junta de Castillo y Leon Cava de Burgos for joining the project of integration of the Civic Banking Group. In his note, the Ministry of Economy and Employment of the Junta de Castillo y Leon also stipulates the need to obtain licenses from other mandatory to start the integration process must provide both the Bank of Spain and the Spanish monetary authority and the Ministry of Economy and Finance.

It has been precisely the Ministry of Finance who is also the group announced today the signing of the Ministerial Order authorizing the Civic Banking Group to operate, once it received a favorable report by the General Directorate of Treasury and the Bank Spain.

Ahead are the relevant entries and other administrative processes to see the Civic Banking Group as the first SIP bank operating in Spain, without consuming resources of Fob, launching a pioneering business model and growth and internationalization as key challenges future?

Satisfaction. Cava de Burgos is shown fully satisfied with the decision taken by the Ministry of Economy and Employment of the Junta de Castillo y Leon, valuing hard work in recent months by the latter. For Burgos entity represents a major milestone in shaping the Civic Banking Group and cruise speed facilitates the group wants to acquire for its implementation on 1 July.

Leaders of the Central Bank of Venezuela and the Ministry of Planning and Finance are concerned about the difficulties encountered by the installation of the band system to carry out exchange operations, said sources close to the central bank.

The total amount of the issue, the main aim was to lower the dollar side, was 50 million dollars. However, to be prohibited transactions in the swap market, the Central Bank and the Ministry of Planning and Finance study a way to fulfill this commitment and to prevent the nation lose confidence for future emissions.

The Government did not take into account that freezing the stock market could have serious implications even for its debt profile because, for example, if you do not pay the instrument issued by the Central Bank would create a precedent very difficult to overcome, said a treasurer consulted.
There is still no certainty about the increase in the quota of foreign exchange for travelers.
“It has to do with the trust that exists when you buy a part of the Republic, if not canceled in time will be uphill achieve in the future that investors are interested in buying bonds,” the treasurer. .

Therefore, a statement caught the attention of the director of the BCV, Armando Leon, which confirmed that the market for buying and selling foreign currency bonds to restart in the coming days.

“Next week should be completed and all operational and functional part of the legal foundation that will carry the system, so we should be operating,” he added.

The government suspended on May 18 called “parallel market exchange or market” which until then was in charge of brokerage firms that negotiated the purchase and sale of bonds or securities, by the allegations of “criminal offenses” in “fixation speculative” price for the transfer of the papers, said Leon Glob vision.

The president of the National Securities Commission, Tomas Sanchez, said: “We have strong presumptions that these institutions are involved in crimes exchange with the simulation of operations,” he said.

Attempts were made to verify with the authorities of the Central Bank if you really consider increasing the quota of foreign exchange for travelers, as the holder of Cadaver said Manuel Barrios, earlier this week, but none of the directors wanted to refer to the information.