Tag: Soraya Saenz SantamariaSoraya Saenz Santamaria
The value of bad debts held by Spain's banks in July rose to 169.3bn Euros, according to latest figures from the central bank. The Bank of Spain said 9.9% of banks' total loans were in arrears, up from 9.4% a month before.
Spain is expected to ask the Euro zone for help with recapitalising its banks this weekend, sources in Brussels and Berlin said on Friday, becoming the fourth country to seek assistance since Europe's debt crisis began.
The United States and Spain discussed the possibility that direct loans from Europe's emergency fund could be a solution for ailing European banks, Spanish Deputy Prime Minister Soraya Saenz de Santamaria said Thursday.
The Argentine government expressed “great concern” on Monday following the decision from the Spanish government to ban bio-diesel “not produced within the European Union” from the country.
Spanish Foreign Minister Jose Garcia Margallo has sent a letter to his UK counterpart William Hague responding to Prime Minister David Cameron’s remarks on self-determination.
Spain's Conservative government ruled out a bad bank to deal with toxic property assets, wary of adding more debt to a nation fighting to control its deficit and putting the onus on lenders to make their own provisions.
Spain's new government revealed on Friday that the public deficit for 2011 would come in at 8% of GDP, well above a target of 6%, and announced income and property tax hikes and a civil servant wage freeze in response.