THE GOVERNMENT SUPPORTS DENARIA, THE CREDIT UNION CEPYME (SPANISH FEDERATION OF SMALL AND MEDIUM ENTERPRISES)

The president of Provincial Council of Alicante, Luisa Pastor, has given its full support to the president of Cepyme Alicante, Cristobal Navarro, and to its board of directors in the constitution budding Denaria, the credit created by SMEs and the self-employed to overcome the lack credit that caused the reconstruction of the financial system in Spain and the loss of the three original institutions of the Region, CAM, Bancaja and Banco de Valencia.

The meeting this morning between Luisa Pastor, the Deputy Alejandro Morant and Cristobal Navarro, "was useful to enable the representatives of the County Council to see for themselves the details of the financial plan that constitutes Denaria as the regeneration of the banking system of the Valencian Community devastated by the crisis and disastrous managements in the past " the Cepyme president explained to this newspaper.

Denaria was formally presented in partnership on Wednesday the 23rd at 12 pm at the Chamber of Commerce of Alicante with the assistance of three managing directors of the Generalitat Valenciana, Raúl Martín, fromEconomy, Rafael Miró, from Cooperativism, Enrique Montes, Valencian Institute of Finances. The Minister of Economy, Industry, Employment and Tourism, Max Buch, has apologized for his absence, becuase he had previously scheduled an institutional and commercial trip to Lithuania. Alicante Cepyme still awaiting confirmation of the president of the manegement Coepa, Moses Jimenez, with whom the management of SMEs is confronted for months, at the expense of the management of the confederacy, of the results of the last financial year and the budget for next year.Denaria will be born early next year, if they receive the mandatory bank record approval of the Bank of Spain and the Ministry of Economy, and it will be opened with three branches and about 6,000 cooperative members, including self-employed, SMEs and individuals. Denaria wants to reach an initial capital of 10 million Euros and focus its activities on retail banking for small and medium enterprises. And discarding complex or financially toxic products or linked to stock values, says Christopher Navarro.

The Generalitat Valenciana, the Plenary of the Chamber of Commerce of Alicante, Cepymeval (SME management of integrated Cierval Region), the AU, the UMH and various professional schools in the province have already openly supported the Denaria financial project. Today it was formally approved by the council. On the other hand it was not  expressed by  the Coepa of Alicante, whose fifth vice president is Christopher Navarro, representing Cepyme.

Source: http://www.lasprovincias.es/20131021/comunitatvalenciana/provincia_alicante/denaria-201310211316.html

Published on 01/22/2014