Why the ECB does not buy Spanish debt. The Government made the mistake of

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The Government has been demanding liquidity from the European Central Bank for days to resolve the market attacks on Spain. But Mariano Rajoy's economic team has realized that it was a mistake to have put so much pressure on the organization. Now he is betting on winning over Germany, with decisive influence over the ECB, to buy Spanish debt. The Minister of Finance, Cristóbal Montoro , admitted yesterday that the situation that Spain is going through, with the risk premium and the profitability of the 10-year bond at record levels, is "critical" and "crucial" , and insisted, not only on the need to bet even more on the euro , but also that the ECB must respond with “firmness and reliability” to the markets. Well, as El Confidencial Digital has learned from government sources, the economic leadership of the Executive recognizes that Spain has put too much pressure on the ECB . And high-level financial sources warn that the Frankfurt-based bank does not accept being told what to do.

Approach to Merkel In the Government they now regret not having maintained closer contact with Angela Merkel's team - which does have a decisive influence on the European Central Bank - to convince Mario Draghi of the need to buy Spanish debt and thus alleviate the tensions in the markets . But in Moncloa they do not give up. They want Middle East Mobile Number List  to use up the last cartridge to reach the ECB, which, precisely, is Germany. According to the sources consulted, representatives of the Spanish Executive have intensified their contacts with Merkel's team in recent hours . And the message they are transmitting to Berlin is clear. The German chancellor, totally opposed to the purchase of sovereign debt by the ECB, is being warned that, " if Spain and Italy fall, Germany will also suffer the consequences .



An intervention by both countries would directly affect German banks , which are the ones that have invested the most in Spanish debt at European level in the last two years.Also the majority of the foreign players of Real Madrid and F.C. Barcelona , ​​which have contracts with sponsors and invoice through companies, cases such as the 'galacticos' Cristiano Ronaldo , Kaká or Messi , among others, are being closely followed by the Treasury - click here -.However, they warn that, at no time, was a direct offer made to them by the ECB for the position and they insist on not commenting on the negotiations carried out by the Government on this issue. For this reason, it has made the decision to admit to processing all the complaints that are presented, if they comply with the law. For now, three other demands from banking user associations and groups of small shareholders are announced . ADICAE has it ready and FACUA is studying it.