positive news is that under the new plan to rescue the banks, the English financial institutions will have to achieve certain goals of recapitalization. Today's announcement coincides with the publication of the IMF Report where exactly is the European Union recalls the need to monitor banks more intensively, they are presenting weak balance sheets, when almost four years after the outbreak of the financial crisis across the Atlantic. The parallel debate is that the FEEF (the European mechanism is activated in Greece, Ireland and Portugal) should be increased and made more flexible. Spain has been spared so far, but at the national level we are finding that rigor has been scarce here, and we have simulated the viability of the unviable. It is true that there were already rules (Basel and three versions), but these were dodging more or less trace. Now, banks not listed (which are more reliant public sector, therefore) must recapitalize before September, getting private sector resources, so that entities should not get into banks to gain access to bailout funds of Frob. This is not an indiscriminate attack on the boxes, despite being challenged entities for many reasons, especially by the presence of politicians and unions in their advice. All this makes us think that stress tests have been unsuccessful in obtaining the trust of the capital, to the extent that the government is recognizing, along with the Bank of Spain, that only through the conversion of English savings banks in purely private entities (banks) is the market willing to trust them. In short, these entities will have to approach by law enforcement to the natural logic of the market, and can not resist the test of realism, will be tapped for direct nationalized in an effort to provide certainty and predictability in their operation. The benefits will be shared by all, both in monetary union (sacrifice flexibility) and the English economy (private credit wins sustainability).
The second and controversial news has to do with intellectual property rights, Law governing the Sustainable Economy , namely the "Law Sinde", last night was welcomed by most parties, including PP and CiU, and thus be processed. Of course, with the amendments proposed by these parties, which are related to a fair trial and the adjustment of the digital canon European law. Thus, on one side, remove the charge on the companies, following the Court of Luxembourg, and, secondly, it prevents anyone to profiting improperly peddling contents that has not acquired rights. It can close websites that engage in that particular offense. The specificity has allowed the parties the opposition support the bill at the last minute is not penalized if they share information about your property, but that profit at the expense of such information or of the material that has a tangible value on the market. The page can not be arbitrarily close, but expected the intervention of an independent body (with representatives of political parties, etc.), Which will ensure the legality on the Internet, and the final decision of a judicial body, to ensure not indiscriminate application of the law. Thus, within a period not exceeding 48 hours, invite the offender to remove illegal content. In this sense, does not infringe freedom of expression, touchstone of hardcore Internet insomnia. The advantage of this law, in market terms, is to reactivate a highly damaged by the indiscriminate piracy, and force the industry to invent new forms of business to a more competitive cost (webs with large packages at affordable prices Downloads , etc.), while allowing the operator receives fair compensation for their work. Two laws of consensus, two laws governing the market, but they wish to ensure best performance. It is not easy to regulate the imbalance, but these two laws have the virtue of seeking a balance no longer exists. These are modest beginnings, long distance, but in the right direction.
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