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Territorial President of the Caja de Ahorros del Mediterráneo (CAM)

Angel Martinez, spoke this morning at the UCAM, the conference `The

Financial System: Status and Prospects' framed Days

Communication from the Catholic University.

Martinez discussed during

intervention, the present and the future of the financial system and highlighted the

need to regain confidence, to overcome the crisis.

"We

are facing a global crisis, financial, real estate and energy, without

unprecedented, "he said.

Angel Martinez reported the severity of the economic situation at all levels

and stressed the need for concrete and urgent measures to alleviate the

situation.

The expert said about the alarming increase in defaults, the

loss of confidence in financial markets and the alarming increase

unemployment.

"The financial system has been turned upside down in just over a

year, which has led to an alarming loss of confidence globally, which is

necessary to recover. "

Martinez also reiterated that "the labor market in Spain

is deteriorating rapidly, as evidenced by the figures of unemployment, higher

to those of other countries in the eurozone, which is serious and worrying. "

Territorial President of CAM, the principal insisted that social policy should

be based on job creation by companies, for what is

necessary to promote human and industrial potential and adapt the business environment

current situation of crisis.

"It is necessary to recover the efficiency, profitability and

competitiveness.

Desperate times call for desperate measures.

We

are facing a dramatic situation requires a rapid response by the

government, "he said.

Source: UCAM