Leio no Jornal de Negócios:
O primeiro-ministro espanhol, Mariano Rajoy, disse ao The Wall Street Journal – em comentários confirmados pelo seu gabinete – que é “100% certo” que pedirá ajuda se os custos de financiamento se mantiverem “demasiado elevados”.
Os esforços de Rajoy para restaurar a confiança dos investidores sofreram um novo revés na terça-feira, quando o presidente catalão, Artur Mas, apelou a eleições antecipadas na comunidade, depois de o governo central ter rejeitado o pacote orçamental apresentado pela Catalunha.
Além das obrigações a 10 anos, os juros das restantes maturidades da dívida espanhola estão também em alta, numa sessão em que – em contrapartida – a bolsa de Madrid afunda, seguindo neste momento a cair mais de 3%.
Milhares de manifestantes acorreram ontem às ruas de Madrid, para o chamado “cerco ao Parlamento”, como forma de protesto contra os cortes orçamentais e os aumentos de impostos que Rajoy tem vindo a implementar desde que assumiu a chefia do governo, em Dezembro do ano passado.
Spanish Leader Outlines Fresh Overhauls
Rajoy, in Interview, Pledges to Limit Early Retirement, Set Budget Monitor
NEW YORK—The Spanish government will restrict programs that allow people to take early retirement as part of overhauls to rein in the country's debt and shore up its shrinking economy, Prime Minister Mariano Rajoy said on Tuesday.
In an interview with editors and reporters of The Wall Street Journal, Mr. Rajoy said measures to be unveiled Thursday would also include the creation of an independent agency to monitor compliance with budget targets, new job-training programs and legislation to sweep away many onerous government regulations.
Spanish Prime Minister Mariano Rajoy faced further problems after Artur Mas, the powerful leader of northeastern Spanish region of Catalonia, said he would call early elections there on Nov. 25, a decision widely viewed as a move to strengthen his campaign for more autonomy. WSJ's David Roman profiles the regional leader.
"The retirement age is reasonable in Spain if it is actually met," Mr. Rajoy said—referring to the mandated age of 65 years—"so we are going to deal with those issues of early retirement." He said the government wouldn't eliminate the option of early retirement but would limit the capacity of individuals to stop working at around 60, as many do now.
Spain is under pressure from financial markets and its euro-zone peers to slash its budget deficit as it weighs the prospect of a bailout from one of the European Union's two financial-rescue vehicles. Seeking a bailout would require Spain to comply with certain economic targets set and monitored by the International Monetary Fund.
Asked whether his government would apply for a bailout, Mr. Rajoy said, "At the moment, I cannot tell you." He said the government would need to determine whether conditions attached to the bailout are "reasonable."
He added, however, that if interest rates on Spain's debt were "too high for too long," thus harming the economy and raising the government's debt burden, "I can assure you 100% that I would ask for this bailout."
The 57-year-old Spanish leader appeared relaxed and animated as he discussed Spain's financial woes during a three-day visit to New York. "This is a fascinating situation I'm dealing with," he said.
The challenges he faces at home continued to mount Tuesday. A protest by several hundred people against earlier budget-cutting measures turned violent, leaving nine people injured and 15 arrested in clashes with police outside the national parliament in Madrid.
In Barcelona, Artur Mas, the powerful leader of Catalonia, said he would call early elections there on Nov. 25, a decision widely viewed as a move to strengthen his campaign for more autonomy for the wealthy northeastern region. Credit-rating firms worry that Catalonia's proposal to keep a larger share of tax revenue collected there for itself would upend Spain's already shaky finances.
"This is a critical week for Madrid," said Nicholas Spiro, head of Spiro Sovereign Strategy. "Much will hinge on how the markets receive the government's latest reform measures, next year's budget and, crucially, the detailed audit of the country's banks."
Mr. Rajoy declined to comment on the violence in Madrid or the call for elections in Catalonia.
His conservative government initially won kudos from other European Union countries for taking tough measures to reduce the deficit after it came to power in December. But as Spain has drifted deeper into recession, he has acknowledged the limits of applying fiscal austerity.
In his remarks Tuesday, he repeated his vow not to reduce pension benefits but added that no decision had been made on whether they might be frozen—a move that would cause pensioners to lose in real terms as inflation and taxes eat into purchasing power.
"We need to be sufficiently flexible in order not to create any further problems," he said.
Data released Tuesday showed the government's budget deficit grew to 4.8% of gross domestic product in the first eight months of the year, up from 3.8% in the year-earlier period. Many analysts say they believe it will be difficult for the government to meet its goal of reducing the deficit to 6.3% of GDP in 2012 from 8.9% in 2011.
Mr. Rajoy was upbeat about the progress of a separate European bailout plan that Spain tapped to help it restructure a distressed banking system.
He was speaking ahead of the expected release Friday of results from an audit to determine which banks will need restructuring, which will need new capital and which will need to be closed. Mr. Rajoy said the amount of money his government would need to recapitalize banks will be "far below the €100 billion" that was provisionally agreed to by the European Union. "My mind is at rest," he added.
Mr. Rajoy spoke in favor of expanded political and financial integration across the euro zone and called for rapid approval of a plan to create a centralized banking regulator for all 17 member countries.
"Europe needs to move toward a banking union now," he said. "That would be a very good message toward the irreversibility of the euro."
"What I do alone is not really going to help Spain get cheaper financing," he added. "That is where I need support and action from all…I'm in favor of the EU, but I think we should have a lot more union than we have.…We need to work hand in hand. We're a club."
Crunch Time
Key dates for Spain as it considers a possible European bailout:
Crunch Time
Key dates for Spain as it considers a possible European bailout:
Sept. 27: Spain presents main details of 2013 budget plan, new economic overhauls.
Sept. 28: Spain to disclose results of a in-depth audit of the banking sector to determine its capital needs.
Oct. 4: Auction of government bonds; maturity dates to be determined.
Oct. 6: Spanish Premier Mariano Rajoy meets French President François Hollande.
Oct. 18: Auction of government bonds; maturity dates to be determined.
Oct. 18-19: Summit of European Union leaders.
Oct. 21: Election of regional leaders in Galicia and Basque country.
Oct. 29: Mr. Rajoy meets Italian Prime Minister Mario Monti.
Late October, early November: Spain expects the first installment of European Union funds for its ailing banks.
* sources: Spanish Finance Ministry, WSJ research
publicado no The Wall Street Journal
Cf. também:
- Spain Is Committed to European Integration, Reform, Rajoy Says
- Rajoy Says Spain Deserves More Credit
- Mariano Rajoy Really Must Get It Right This Time
- Protests Rock Europe; How Do Markets React?
- Anti-Austerity Protests Hit Spain and Portugal
e ainda:
- Protesters during a demonstration in Madrid on Tuesday: slideshow | video
- Heard: Madrid Struggles With Catalonia
- Bond Yields Up on Bailout Uncertainty
- Euro Ministers Create Doubts on Bank Aid
- Violent Protests in Madrid | Catalonia Adds to Problems
- Live: Europe's Crisis Stream | Protests in Athens Over Cuts
- Why the Crisis Is Back
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