- Concrete
to worry, no one will know enough to make a complete analysis, the administrative and accounting procedures.
Derivative financial instruments for which the municipality had an observation by the Court of Auditors, will remain a mysterious object, which you will not know enough to write about it.
The Administration has reassured with a virtual pat on the shoulder, the citizens who had expressed a desire to get to know the facts, not polemics, but to understand.
Ultimately, no risk in Senigallia, for derivative contracts entered into by the City, which is not represent, in this case, risky speculative instruments, unlike what happened in other municipalities. This is the message. Believe it or leave it (losing).
Before pulling the final sigh of relief, I note that unfortunately was not able to understand in detail what we're talking about, or rather what it is, despite the request for clarification has been made and the answer seems clear. Many details are lacking, however.
unknown, despite requests, and the research done on the internet and on budget, will remain the decision or determination with which it was decided to arrange the final contract for derivatives.
Also, from what little is known, may have been contracted "Interest rate cap" or keeping your mortgage, which is a fixed-rate loan at a floating rate until the Euribor to the threshold of the fixed rate or a different threshold. This "insurance" is paid in installments over six-monthly installments (if it is at 0.34% to indent the City for the first six-monthly installment paid for insurance an amount of approximately € 3,000.00).
When it is claimed that the resulting overall rate (ie the floating rate of the loan plus the rate of the derivative) was lower than the rate fixed by the bank asked for the loan, it is noted that this comparison may not be complete and useful for us to understand the risk or whether the municipality will in the end we won, because in periods of rising rates (2006) is normal that the Euribor is lower than the fixed rate. We should know if the mortgage or mortgages to be made safe for 5 years, as the derivative, or longer.
Nobody will know in depth the story, and Brancoleria in the dark, until the public is not allowed to know everything I want to know and to participate more.
There are two possibilities: Drink whole or criticize without basis for doing so.
In both cases, the player who takes the bench.
Exercising the constructive criticism is impossible, if there are any data.
Congratulations to those who take the bench.
For now.
