European Union’s member States set up a plan to help banks faced with the current financial crisis. After a meeting on Sunday October 12th, the presidents of each State announce their plan at the same time on Monday October 13th.
The European plan consists with:
- a guarantee for the interbank loans,
- a recapitalization of banks.
The goal is to fight against the crisis and to restore confidence between banks. Indeed, they want to stimulate economy and consumption.
First, in France, the public guarantee rises to 360 billion euros until the end of 2009.
The objective is to repair the banking environment in a position to finance the economy.
Its plan of support consists of three points:
- the confirmation to save Dexia,
- the refinancing banks,
- the participations in own capital stocks.
Thanks to these guarantees, banks will be again able to release their funds for the loans on real property, loans for companies and private individuals.
Moreover, the French State commits the recapitalization of the banks.
However, we can note that the French banks are more well-established than the British and German banks because they have important own capital stocks. The notification of this plan allowed a rise from approximately 11,5 % of the CAC 40 in one day.
Then, with regard to Great Britain, London decides to invest 37 billion pounds in three banks, that is to say 46,5 billion euros.
So, the State decides to partially nationalize RBS, HBOS and Lloyds TSB.
Its goal is to restore the liquidity on the interbank market and the financing of the economy.
Moreover, London decides to guarantee 250 billion pounds for the interbank loans and to release 200 billion for loans.
Next, at the level of the German State, Berlin set up a plan of 470 billion euros.
This plan contains two points:
- guarantees of loans between banks for 400 billion euros,
- helping the banks in difficulty for 70 billion euros.
But, in Germany it is not a question of nationalization.
The goal of this plan is not in the interest of banks, but in the interest of people.
The European plan consists with:
- a guarantee for the interbank loans,
- a recapitalization of banks.
The goal is to fight against the crisis and to restore confidence between banks. Indeed, they want to stimulate economy and consumption.
First, in France, the public guarantee rises to 360 billion euros until the end of 2009.
The objective is to repair the banking environment in a position to finance the economy.
Its plan of support consists of three points:
- the confirmation to save Dexia,
- the refinancing banks,
- the participations in own capital stocks.
Thanks to these guarantees, banks will be again able to release their funds for the loans on real property, loans for companies and private individuals.
Moreover, the French State commits the recapitalization of the banks.
However, we can note that the French banks are more well-established than the British and German banks because they have important own capital stocks. The notification of this plan allowed a rise from approximately 11,5 % of the CAC 40 in one day.
Then, with regard to Great Britain, London decides to invest 37 billion pounds in three banks, that is to say 46,5 billion euros.
So, the State decides to partially nationalize RBS, HBOS and Lloyds TSB.
Its goal is to restore the liquidity on the interbank market and the financing of the economy.
Moreover, London decides to guarantee 250 billion pounds for the interbank loans and to release 200 billion for loans.
Next, at the level of the German State, Berlin set up a plan of 470 billion euros.
This plan contains two points:
- guarantees of loans between banks for 400 billion euros,
- helping the banks in difficulty for 70 billion euros.
But, in Germany it is not a question of nationalization.
The goal of this plan is not in the interest of banks, but in the interest of people.
Lastly, we can see that the European plan is not the solution with the financial and economic crisis, but it will allow inject enthusiasm into the economy and the stock markets in order to calm the tensions.
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