Sunday, January 3, 2016

Crac Etruria, no prepayments Bloodletting on the A24 ends in Parliament “Insecure and no services” – The Time

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The Ministry of Economy tow all the hypothesis of a possible early redemption of the savers affected by blending stocks and bonds of the four banks rescued by the government with the ad hoc decree . No lanes then to get a refreshment partial investment in bonds issued by Banca Etruria, Banca Marche, Carife and Carichieti and went up in smoke. All investors must comply with the procedures laid down by the arbitration decided by the government. A mechanism will be set as soon as possible, with a decree on which the Treasury is already working with the Ministry of Justice, the Bank of Italy and Consob. As long as the rules will not be put on paper there will be no compensation in advance (well seen even by consumer associations) or selective, and that is paid only to certain categories of investors objectively weaker and less informed about the risks of subscriptions. To turn off the enthusiasm generated by small investors advances journalistic was yesterday the Treasury, through its sources, has denied the speculation circulating on the intention of some of the institutions performing, in particular the new Banca Etruria, to anticipate at least part the amounts lost to some of its customers. More than half of the bondholders who are clients of the bank recorded losses of Arezzo. It is, as indicated by the president of the bank born after the settlement procedure, Roberto Nicastro, of the approximately 683 thousand investors who have invested less than 100,000 Euros focusing on subordinated debt over 50% of their assets.

The basic idea was to turn quickly in this core depositors a partial amount of the total, pending the establishment of the arbitration proceedings. An advance that would have to reassure depositors and prevented the escape of members of institutions that will be sold in the coming months. And the value of which is also linked to the number of customers that will bring a dowry to the new owners. A vain attempt, because before the launch of the decrees of the standards-saving savers included in the Stability Law “can not be assumed any intervention,” explained sources of the MEF. The same who recalled that the ministry has put to work immediately to write “as soon as possible” and no later than the expiration of the 90 days provided by law, the manner in which the Authority will manage the Anti-Corruption led by Canton arbitrations. In the texts being prepared should also be indicated the odds of repayments, with particular attention to small investors. That according to rumors could in some cases repossess the entire capital.

And always the same act may establish, as speculated the leaders of the new banks, that if you were to generate substantial capital gains from the sale of the sufferings of the old banks they can be used to compensate subordinated bondholders.

The controversy generated by the saving decree banks still are not exhausted. Indeed increased in intensity after the entry into force from January 1 of the European standards for the failure of banks the so-called bail-in. Rules to which consumers are preparing appeals rite both the TAR of Lazio and the Constitutional Court on the grounds that the bail-in move on private saving banks defaulted. And this second Adusbef and Federconsumatori, is a “criminal expropriation of savings” that does not respect the dictates of the Constitution.

Meanwhile, back in protest savers, bondholders and shareholders. After the garrison of 28 December outside the headquarters of Banca Etruria in Arezzo, the next event is scheduled for Monday, January 4, in front of the headquarters of Banca Marche Jesi (An), in Corso Matteotti 8, from 8:30 am until 16 : 00 pm. The protest was organized jointly by the Association of Victims of Save-Banks and the Association of Private Shareholders Banks Marches.

The high cost of tolls sullA24 and A25 ends in parliament. After the last inflation of 3.45%, took a new year, which resulted in the overall increase in the cost of Rome-Aquila-Pescara to 187% more in the last 13 years, the case comes to the House, with a ‘urgent question of the deputy Gianni Melilla (SI) to the Minister of Infrastructure, Graziano Delrio. But it reappeared the request of ‘downgrading of the urban section dell’A24 and its exclusion from charging highway “, so as requested unanimously by the Provincial Council of Rome two years ago. When commuters asked to extend the decline even more than 11 kilometers of the urban section, extending it to the entire segment of Lazio, “to be classified as non-mountainous area, considering that the first 33 kilometers of the Rome-Aquila ranging from the exit of Tivoli, which an altitude of only 55 meters above sea level, to that of Castel Madama, of 245 meters. ” Until last year, in fact, the obligation of the winter equipment aboard snapped only after Vicovaro, which is the last exit Lazio from this year, however, since, to the entire Tivoli Abruzzo. From Avezzano to Rome, the toll now costs 80 cents more, while, to reach the capital from Chieti and Pescara, it takes over 19 Euros. And the anger over soaring food prices have been collected from Melilla, pointing the finger at “an increase that is even more unfair when you consider the status of the highway, now old and insecure. Its high cost deters traffic now because to go to Rome you spend more for the toll for gasoline. And also with regard to the catering service and fuel there is to detect the shame of 100 kilometers of highway between Pescara and Avezzano with no gas station: a record low national “concludes the query. The concessionaire remembers “redevelopment work of the entire motorway inherited from the former management of Sara (20 years without maintenance). All works and investimenti- says to Caesar that Ramadori- Trail Parks made to preserve employment levels, despite significant losses, which we coped with major capital injections by shareholders and not with the ‘increase in tolls. A highway mountain which need high standards of safety and maintenance works expensive, due to a path geomorfologico very complex, characterized by the very steep, and the presence of 344 viaducts and 51 tunnels “.

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Phil. Cal. Antonio Sbraga

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