City’s bleak finances will put new Madrid mayor Botella in tight spot
When Ana Botella becomes Madrid mayor on Tuesday, she will inherit a city with a burgeoning debt that will leave her little room for any new investments and force her to make very politically sensitive decisions, More...
Regions to shore up finances with drastic 2012 budget cuts
Faced with growing pressure from Madrid to reduce their deficits, regional governments are planning significant cutbacks in public works investment for 2012. Twelve out of the 17 semi-autonomous regions that make More...
Tottenham make late £26m bid for Spain World Cup star
Tottenham have taken a leaf out of London neighbours Chelsea’s book and made a huge late bid for a Spain striker. Athletic Bilbao’s Ferando Llorente is the object of Harry REdknapp’s affections More...
Spain says savings banks must recapitalise
Spain´s savings banks must boost their capital to gain market confidence, the Economy Secretary said, as jitters over their exposure to the property sector helped inflate the cost of issuing sovereign bonds this More...
Inflation rises to 3% in December in Spain
The inflation rate in Spain rose by 0.6 percent to 3 percent in December, the National Institute of Statistics (INE) reported Friday. The sharp rise was mainly due to increases in the price of fuel and tobacco, More...
Global financial markets fall again due to the Spanish situation
New black day for global financial markets due to the fall of Spain, whose index Ibex 35 drops to 9580 points. In Argentina, the stock fell more than 1%, the country risk goes up 735 points and Argentine bonds shrink More...
Joblessness in Spain will rise to 19.4 percent in 2010
The unemployment rate in Spain will rise to 19.4 percent this year and 19.7 percent in 2011, the country´s central bank has said. Job creation will not start until the “final quarters” of 2011, the More...
Castilla-La Mancha makes huge cut in public spending
Severe plans to sort out the finances of Castilla La Mancha have been approved that will aim to eradicate absenteeism, postpone the inauguration of hospitals, revise maternity aid and reduce public spending. The More...
Spain Cabinet to pass anti-crisis measures on March 30
Spain´s Cabinet will pass economic regulations including measures to improve financing for small and mid-sized companies in a decree on March 30, El Pais reported, citing Prime Minister Jose Luis Rodriguez Zapatero. The More...
The Fight against Poverty – Government Agreements
The Council of Ministers once again focused its attention on those social groups most affected by the economic crisis and those in a more severe situation of social vulnerability. Therefore, approval was granted More...
Austerity measures driving unrest
A wave of industrial and social unrest is building across Europe as workers resist attempts by governments and private companies to impose austerity policies, drive down wages and rescue some nations from near-bankruptcy. Huge More...
Spain public debt still manageable-OECD’s Gurria
Spain´s public debt is still at manageable levels, and less than the OECD average in relation to GDP, but it must be brought be under control, OECD Secretary General Angel Gurria said in Madrid on Tuesday. He also More...
Spain braced for general strike
Spanish trade unionists will pour on to the streets to protest against Socialist prime minister José Luis Rodríguez Zapatero´s attempts to reform a moribund economy that has left one in five Spaniards out of More...
In Spain, Debt Collectors Use Public Shaming to Extract Payment
Embarrassed when a man in a tuxedo and top hat follows you into a restaurant and silently joins your lunch date? Mission accomplished. Mortified when a trio of rotund men dressed as superheroes asks your neighbors More...
Spanish Treasury launches 15-year bond issue
The yield is set at 4.66%, and the issue amount is 5,000 million euros. The Public Treasury has launched a syndicated issue of 15-year bonds with a coupon rate of 4.65% and maturity in July 2025. The yield of this More...
Pain in Spain could fall on British companies
Britain´s exposure to the financial turmoil sweeping through southern European economies could be far greater than previously thought, according to data seen by the Guardian. Despite relief that Britain´s decision More...
Offshore tax havens: Spain
It is perhaps not surprising that Spain, a long-standing favourite for expats, remains the most popular destination for Brits moving overseas. It has a warm climate, is easy to get to thanks to low budget airlines More...
Government To Extend Jobless Benefit; No Social Cuts
Spain is on its way to overcoming the current economic crisis and will do so without cuts to the social-welfare system, Prime Minister Jose Luis Rodriguez Zapatero said Tuesday. Zapatero announced that at a cabinet More...
The new Plan FuturE will finance 100% of tourist investments
The Spanish Ministry of Industry, Tourism and Commerce has approved the regulations for the new Plan FuturE 2010 designed to improve tourist infrastructures linked to sustainability. The aim of this measure is to More...
Santander may float in UK if it buys Williams & Glyn’s branches from RBS
Banco Santander could float part of its rapidly growing UK division – which includes the former Abbey, Bradford & Bingley and Alliance & Leicester – if it ends up buying the 300 bank branches of Williams More...
