Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
4Activity
P. 1
UNA OPORTUNIDAD PARA EL SISTEMA FINANCIERO VASCO (Es) AN OPPORTUNITY FOR THE BASQUE FINANCIAL SYSTEM (Es) EUSKAL FINANTZA SISTEMARENTZAKO AUKERA BAT (Es)

UNA OPORTUNIDAD PARA EL SISTEMA FINANCIERO VASCO (Es) AN OPPORTUNITY FOR THE BASQUE FINANCIAL SYSTEM (Es) EUSKAL FINANTZA SISTEMARENTZAKO AUKERA BAT (Es)

Ratings: (0)|Views: 682|Likes:
Published by EKAI Center

More info:

Published by: EKAI Center on Jun 23, 2012
Copyright:Public Domain

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF or read online from Scribd
See more
See less

12/21/2012

pdf

 
 Gy g Vd}ekjf Sgsh}, kq adhyj±q }h`lhiq gj{ kjyqkqxqkdjgl sdykqkdj d} dskjkdj jhkqnh} d` HEGK Ihjqh},jd} d` kqy ysdjyd}y d} yxssd}qkjf hjqkqkhyHEGK Ihjqh} yhhey qd ad mxykjhyy vkqn idbsgjkhy d} fdph}jbhjqy idph}ha kj kqy }hsd}qy* ]hgah}y yndxla mh gvg}h qngqvh bg{ ngph g idj`lkiq d` kjqh}hyq qngq idxla g``hiq qnh dmohiqkpkq{ d` qnky }hsd}q* Kjphyqd}y yndxla idjykah} qnky }hsd}qgy djl{ g ykjflh `giqd} kj bgekjf qnhk} kjphyqbhjq ahikykdj*
 
FG]GKG KJJDPGQKDJ IHJQH], FDK]X 7,G= BDJA]GFDJQHL? ;19=83731 PKQD]KG"FGYQHK_ 09;017186LHEHKQKD 0686376>8 AX]GJFD 0>>>7;8=3 H"BGKL? kj`dChegkihjqh}*hx  yi}kma*idb$HEGKIhjqh}
 
`gihmdde*idb$HEGKIhjq}h
 
nqqs?$$hegkihjqh}7*mldfysdq*idb
 
nqqs?$$kjaxyq}kglsdlki{*mldfysdq*idb
 
 
Vd}ekjf Sgsh}
 
=9 ah Oxjkd ah =37=
 
XJG DSD]QXJKAGA SG]G HLYKYQHBG @KJGJIKH]D PGYID
 GJ DSSD]QXJKQ[ @D] QNH MGYWXH @KJGJIKGL Y[YQHBHXYEGL @KJGJQ_G YKYQHBG]HJQ_GED GXEH]G MGQ 
7*
Hl s}dihyd ah phjqg ah Igqglxj{g Mgji ng ykadyxyshjakad ngyqg dqd÷d* Hy xjg h~ihlhjqhdsd}qxjkaga sg}g hl ykyqhbg `kjgjikh}d pgyid*
=*
Hyqdy bhyhy sxhahj yh} xj }hfgld sg}g hl`xqx}d ah jxhyq}g Hidjdbâg* Hy xjg digykùjh~q}gd}akjg}kg sg}g wxh jxhyq}dy }hysdjygmlhysdlâqkidy { hidjùbkidy ahakwxhj gl bhjdy xjgyyhbgjgy g bhakqg} ydm}h hl `xqx}d ah jxhyq}dykyqhbg `kjgjikh}d* [g yhg g q}gpëy ah xj ahmgqhgmkh}qd d g q}gpëy ah }hxjkdjhy ih}}gagy xdskjkdjhy ah h~sh}qdy, sg}hih hl bdbhjqdgahixgad sg}g }h`lh~kdjg} ydm}h wxë hy ld wxhsdahbdy { ahmhbdy ngih} idj jxhyq}d ykyqhbg`kjgjikh}d
7
*
9*
Hyqg }h`lh~kùj ahmh qhjh} hj ixhjqg,lùfkigbhjqh, hlhbhjqdy ah id}qd { ah lg}fdslgzd*
7
 
Hj idlgmd}gikùj idj lg Aksxqgikùj @d}gl ah Mkzegkg,HEGK Ihjqh} pg g sdjh} hj bg}ing xj mldf
 ’“
mgjexhqg `kjgjqzge
" hj hl wxh d`}hihbdy sg}qkiksg} g qdadyldy kjqh}hygady* Sd} yxsxhyqd, yk glfxkhj jhihykqgjxhyq}g idlgmd}gikùj sg}g d}fgjkzg} d `giklkqg} hyqdyahmgqhy, hyqgbdy g akysdykikùj ah qdady*
 
 
Gy g Vd}ekjf Sgsh}, kq adhyj±q }h`lhiq gj{ kjyqkqxqkdjgl sdykqkdj d} dskjkdj jhkqnh} d` HEGK Ihjqh},jd} d` kqy ysdjyd}y d} yxssd}qkjf hjqkqkhyHEGK Ihjqh} yhhey qd ad mxykjhyy vkqn idbsgjkhy d} fdph}jbhjqy idph}ha kj kqy }hsd}qy* ]hgah}y yndxla mh gvg}h qngqvh bg{ ngph g idj`lkiq d` kjqh}hyq qngq idxla g``hiq qnh dmohiqkpkq{ d` qnky }hsd}q* Kjphyqd}y yndxla idjykah} qnky }hsd}qgy djl{ g ykjflh `giqd} kj bgekjf qnhk} kjphyqbhjq ahikykdj*
 
FG]GKG KJJDPGQKDJ IHJQH], FDK]X 7,G= BDJA]GFDJQHL? ;19=83731 PKQD]KG"FGYQHK_ 09;017186LHEHKQKD 0686376>8 AX]GJFD 0>>>7;8=3 H"BGKL? kj`dChegkihjqh}*hx  yi}kma*idb$HEGKIhjqh}
 
`gihmdde*idb$HEGKIhjq}h
 
nqqs?$$hegkihjqh}7*mldfysdq*idb
 
nqqs?$$kjaxyq}kglsdlki{*mldfysdq*idb
 
 
XJG DSD]QXJKAGA SG]G HLYKYQHBG @KJGJIKH]D PGYID
1*
Sd} yxsxhyqd, glfxjgy ah lgy ilgphy g slgjqhg}ydj, jhihyg}kgbhjqh, ah id}qd slgzd* Lg`xjagbhjqgl, s}dmgmlhbhjqh, lg ah yk Exq~gMgjeahmh d jd idjqkjxg} hj yx hyq}gqhfkg ahh~sgjykùj bhakgjqh lg gawxkykikùj ah hjqkagahymgjig}kgy hj ak`kixlqgahy hj hl Hyqgad*
8*
Hl ahmgqh ahmh}âg sg}qk} ah xj id}}hiqdakgfjùyqkid ah lg ykqxgikùj ahl ykyqhbg `kjgjikh}dpgyid* Hyqh akgfjùyqkid }hwxkh}h xj hy`xh}zdhyshiâ`kid wxh sh}bkqg, sd} xj lgad, sdjh} ahbgjk`khyqd lgy pg}kgmlhy ixgjqkqgqkpgy {ixglkqgqkpgy hyhjikglhy ah jxhyq}d ykyqhbg {, sd}dq}d lgad, ilg}k`kig} glfxjgy ah lgy idj`xykdjhyidjihsqxglhy wxh, g `glqg ah gjçlkyky ykyqhbçqkidyhyshiâ`kidy, hyqçj akyqd}ykdjgjad yh}kgbhjqh lgyhyq}gqhfkgy sÿmlkigy { s}kpgagy ah jxhyq}dykyqhbg `kjgjikh}d*
0*
Lgy bçy ykfjk`kigqkpgy ah hyqgy idj`xykdjhyidjihsqxglhy ah}kpgj ah lg `glqg ah ak`h}hjikgikùjhjq}h lg ykqxgikùj, h~shiqgqkpgy { }hqdy ahlykyqhbg `kjgjikh}d hysg÷dl hj fhjh}gl { ldyhyshiâ`kidy ah lg Idbxjkaga Gxqùjdbg*
6*
Lg hidjdbâg pgyig bgjqxpd yx sxlyds}daxiqkpd { jd yh hjahxaù g ldy jkphlhy ah lghidjdbâg hysg÷dlg* Hyqh hy hl `giqd} ak`h}hjikglhyhjikgl wxh fhjh}ù xj ykyqhbg `kjgjikh}d ygjd,gyhjqgad hj hl hy`xh}zd sh}bgjhjqh ah q}gmgod {gnd}}d ah lg fhjh}gikùj gjqh}kd}*
>*
Hyqd jd wxkh}h ahik}, sd} yxsxhyqd, wxh jd yhs}daxoh}gj h~ihydy `kjgjikh}dy* Glfxjgy f}gjahyhbs}hygy kbkqg}dj hyq}gqhfkgy h~sgjykpgyydsd}qgagy hj xj h~gfh}gad hjahxagbkhjqd* [,ld bçy f}gph, xjg sg}qh ahl hy`xh}zd ah gnd}}d ahjxhyq}dy ikxagagjdy `xh aklgskagad sd} jxhyq}gyhjqkagahy `kjgjikh}gy hj kjph}ykdjhy ah glqd}khyfd g q}gpëy ah lg }ha ah d`kikjgy }hikëjgmkh}qgy hj dq}dy qh}}kqd}kdy {, bçy}hikhjqhbhjqh, g q}gpëy ah lg gawxkykikùj ah IgogYx}*
;*
Ah ixglwxkh} `d}bg, lg ykqxgikùj dmohqkpg ahlyhiqd} `kjgjikh}d pgyid hj hl bdbhjqd ahhyqgllkad ah lg i}kyky h}g, idbd nhbdy akind,yxyqgjikglbhjqh bhod} wxh lg ahl yhiqd}`kjgjikh}d hyqgqgl*
73*
Ykj hbmg}fd, jxhyq}d yhiqd} `kjgjikh}d
 ’ 
{jxhyq}dy lâah}hy sdlâqkidy { hidjùbkidy" yh ngjahogad g}}gyq}g}, xjg { dq}g phz, sd} ldy ahmgqhy {hyq}gqhfkgy gmkh}qdy g jkphl hyqgqgl { wxh yùld yhhjqhjaâgj hj hl idjqh~qd ah lg bx{ hyshiâ`kigykqxgikùj ahl yhiqd} `kjgjikh}d hysg÷dl*
77*
Hyqd ng yxihakad, hj s}kbh} lxfg}, idj lgyigogy ah gnd}}dy* Hysg÷g ng ahikakad }hjxjikg} gxj bdahld wxh ng }hysdjakad h`kikhjqhbhjqh glgy jhihykagahy ah lg ydikhaga hysg÷dlg ax}gjqh;3 g÷dy, idbd idjyhixhjikg ah ahqh}bkjgadys}dmlhbgy ah id}}xsikùj { ah h}}d}hyhyq}gqëfkidy*
7=*
Sh}d, qhjkhjad hj ixhjqg lg ykqxgikùj ah lgyigogy ah gnd}}dy pgyigy, ahog}yh g}}gyq}g} sd} hyhahmgqh ng ykad xjg ph}agah}g jhflkfhjikg* Lgyigogy ah gnd}}dy ydj xj kbsd}qgjqh giqkpd ydikgl{ hidjùbkid hj ldy sgâyhy wxh fhyqkdjgjh`kikhjqhbhjqh yxy }hysdjygmklkagahy sdlâqkigy {,hj fhjh}gl, hj hl idjoxjqd ah Hx}dsg* Hy xjgiqkpd hyhjikgl sg}g hl kbsxlyd ah lg giqkpkagas}daxiqkpg { lg hidjdbâg }hgl, wxh Hysg÷g hyqçahogjad wxh yh lh hyigsh ah lgy bgjdy* Wxh hlSgây Pgyid ig{h}g hj hyqh bkybd h}}d} sd} ykbslhkbkqgikùj yh}âg kbsh}adjgmlh*
79*
Hj jxhyq}g dskjkùj, ng ykad qgbmkëj xj h}}d}bg}fkjg} g xyxg}kdy { q}gmgogad}hy hj ldy ù}fgjdy
 
 
Gy g Vd}ekjf Sgsh}, kq adhyj±q }h`lhiq gj{ kjyqkqxqkdjgl sdykqkdj d} dskjkdj jhkqnh} d` HEGK Ihjqh},jd} d` kqy ysdjyd}y d} yxssd}qkjf hjqkqkhyHEGK Ihjqh} yhhey qd ad mxykjhyy vkqn idbsgjkhy d} fdph}jbhjqy idph}ha kj kqy }hsd}qy* ]hgah}y yndxla mh gvg}h qngqvh bg{ ngph g idj`lkiq d` kjqh}hyq qngq idxla g``hiq qnh dmohiqkpkq{ d` qnky }hsd}q* Kjphyqd}y yndxla idjykah} qnky }hsd}qgy djl{ g ykjflh `giqd} kj bgekjf qnhk} kjphyqbhjq ahikykdj*
 
FG]GKG KJJDPGQKDJ IHJQH], FDK]X 7,G= BDJA]GFDJQHL? ;19=83731 PKQD]KG"FGYQHK_ 09;017186LHEHKQKD 0686376>8 AX]GJFD 0>>>7;8=3 H"BGKL? kj`dChegkihjqh}*hx  yi}kma*idb$HEGKIhjqh}
 
`gihmdde*idb$HEGKIhjq}h
 
nqqs?$$hegkihjqh}7*mldfysdq*idb
 
nqqs?$$kjaxyq}kglsdlki{*mldfysdq*idb
 
 
XJG DSD]QXJKAGA SG]G HLYKYQHBG @KJGJIKH]D PGYIDah Exq~gMgje* Hyqg ahikykùj }hwxh}âg xj ahmgqhydikgl s}d`xjad wxh jd ng h~kyqkad* Hj fhjh}gl, hljkphl ah gxqdjdbâg { ldy kjyq}xbhjqdy ah idjq}dlah ldy hohixqkpdy ah Exq~gMgje ydj gyshiqdyhyhjikglhy ah xj ahmgqh ilgph, hj lg bhakag hjwxh g`hiqg g xjg hjqkaga wxh yxsdjh ih}ig ahlikjixhjqg sd} ikhjqd ah lg ixdqg ah bh}igad ahlyhiqd} `kjgjikh}d pgyid*
71*
Hy jhihyg}kd, hj ah`kjkqkpg xj ahmgqhilg}k`kigad} ydm}h hl }ëfkbhj ah s}dskhaga ahExq~gMgje wxh jdy sh}bkqkh}g sdykikdjg}jdy ahxjg `d}bg yh}kg ydm}h yk, hj hyqh igyd, hy bçyh`kikhjqh lg qkqxlg}kaga sÿmlkig, s}kpgag diddsh}gqkpg, g lg lxz ah xj gjçlkyky idbsg}gad {ykyqhbçqkid { jd, idbd yh ng nhind ax}gjqh hyqhg÷d, sd} bh}g kbkqgikùj gqdldja}gag ah ld wxhhyqç yxihakhjad hj hl Hyqgad*
78*
Hyqh ahmgqh ahmh jhihyg}kgbhjqhidbsgfkjg}yh idj hl ah lg s}dskg akbhjykùj ahExq~gMgje* ´Hy d jd h~ihykpd wxh xjg ydlghjqkaga dixsh ih}ig ahl 83( ahl bh}igad`kjgjikh}d pgyid4 ´Hy hlld idbsgqkmlh idj xj}ëfkbhj ah idbshqhjikg h`kikhjqh wxh s}dqhog gxyxg}kdy, `gbklkgy { hbs}hygy4 D, agad hlkbs}hykdjgjqh sdah} `çiqkid ah lgy hjqkagahy`kjgjikh}gy, ´hy hlld idbsgqkmlh idj xj }ëfkbhjahbdi}çqkid4Hy bx{ sdykmlh wxh gl bhjdy xjg idjyhixhjikgyh ahaxzig ilg}gbhjqh ahl bkybd? Yk Exq~gMgjeahmh bgjqhjh} hl 83( ahl bh}igad mgjig}kdpgyid, sxhah yh} kbs}hyikjakmlh wxh yxqkqxlg}kaga hyqë ilg}gbhjqh mgod hl idjq}dlsÿmlkid*
70*
Jd sg}hih idbs}hjykmlh wxh qdad ldyxihakad ax}gjqh hl ÿlqkbd g÷d .s}dihyd ah`xykùj ah lgy igogy pgyigy, mgjig}kzgikùj,yhsg}gikùj ah q}gmgogad}hy { xyxg}kdy ah ldyù}fgjdy, slgjqhgbkhjqd ah idqkzgikùj hj Mdlyg,lgjzgbkhjqd ah xjg hyq}gqhfkg ah h~sgjykùj gq}gpëy ah lg gawxkykikùj ah hjqkagahy ah ydlphjikgaxadyg, hqi*+ yh ng{g ahyg}}dllgad ah `d}bgkbs}dpkygag, ykj xj ahmgqh qëijkid, ydikgl {sdlâqkid ah lg s}d`xjakaga wxh hyqh qhbg bh}hih*Sh}d bçy pglh qg}ah wxh jxjig*Idbd sdahbdy idjyqgqg} `çiklbhjqh, qdad hlld yhng ydsd}qgad hj xjg bh}g kbkqgikùj ahhyq}gqhfkgy ahyg}}dllgagy hj hl Hyqgad hj}hysxhyqg g s}dmlhbgy { }hqdy hyhjikglbhjqhakyqkjqdy ah ldy jxhyq}dy*
76*
Glfd ykbklg} hyqç yxihakhjad idj lgy jd}bgyahl Mgjid ah Hysg÷g
 ’ 
lgy bçy }hikhjqhy, ydm}hadqgikùj ah giqkpdy idj fg}gjqâg kjbdmklkg}kg"wxh yùld qkhjhj yhjqkad hj xj idjqh~qdhidjùbkid { `kjgjikh}d idbd hl hysg÷dl, { wxh}hyxlqgj ilg}gbhjqh sh}oxakikglhy sg}g jxhyq}dykyqhbg `kjgjikh}d* Ldy lâah}hy sdlâqkidy pgyidy, hjah`hjyg ah jxhyq}gy kjyqkqxikdjhy `kjgjikh}gy,ahmh}âgj ngmh} nhind `}hjqh g hyqh s}dmlhbgahyah hl s}kbh} bdbhjqd*
7>*
Lg ykqxgikùj ahl i}ëakqd hbs}hyg}kgl hj hl SgâyPgyid }hwxkh}h qgbmkëj, x}fhjqhbhjqh, xjgahikakag giqxgikùj sdlâqkig ahyqkjgag g }hd}khjqg}lgy sdlâqkigy ah jxhyq}d ykyqhbg `kjgjikh}d,gl}hahad} ah xjg `kjglkaga ilg}g, wxh mkhj sda}âg}hyxbk}yh hj hl yldfgj ykfxkhjqh?
ldy }khyfdy, idjjxhyq}gy hbs}hygy
*
7;*
Hj yx idjoxjqd, jhihykqgbdy sdlâqkigy ilg}gygl}hahad} ah jxhyq}d ykyqhbg `kjgjikh}d, wxhd}khjqhj ahikakagbhjqh lgy hyq}gqhfkgy ah lgyhjqkagahy `kjgjikh}gy, gyhfx}gjad wxhid}}hfkbdy ldy ahyhwxklkm}kdy hj ldy wxh igâbdyngyqg hl hyqgllkad ah lg i}kyky `kjgjikh}g {, ydm}h

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->