Spanish Banco Popular has been rescued from the brink of collapse by larger rival Santander for one Euro. Buying Banco Popular will cost Santander 7bn euros, around 2bn euros more than analysts had expected. Banco Popular was described by the European Central Bank as failing or likely to fail due to its dwindling cash reserves.The bank has struggled after billions in property investments turned sour.
Gibraltar could be Spanish “within four years”, Spain’s former foreign minister, José Manuel García-Margallo, said on Wednesday insisting that “the Hong Kongisation” of the Rock was possible in that timescale.
The European Union and South American trade bloc Mercosur should intensify talks to reach a trade agreement this year, Spanish Prime Minister Mariano Rajoy said on Tuesday, urging haste after 18 years of negotiations.
Spanish Prime Minister Mariano Rajoy arrived in Brazil on Sunday on an official two-day visit during which he will meet with President Michel Temer and follow a markedly economic agenda, including Mercosur and current ongoing talks with the EU in Brussels. The second leg of the trip will take Rajoy to Uruguay.
Spain’s Foreign Minister Alfonso Dastis called on Tuesday for calm in the row over Gibraltar’s inclusion in the EU guidelines, adding that he was surprised by the reactions in Britain. He was speaking amid a media frenzy after the EU said in its guidelines that Spain must agree before any future trade deal between the UK and the EU can be extended to Gibraltar.
Spain’s Foreign Minister, Alfonso Dastis, has told a leading German newspaper that Madrid will not be taking “any type of punitive measures” at the border with Gibraltar after Brexit. Dastis has made similar statements in recent days to Spanish media, but his comments to Frankfurter Allgemeine Zeitung are the first time he has spoken about the border to the international media.
Spain will support a Brexit deal that allows British expatriates to remain on the Costas with their benefits intact, including access to healthcare, it was reported. According to The Times, Madrid would “in principle” favour an agreement that would allow Britons living in Spain and other parts of the EU to retain existing rights.
Spain’s King Felipe VI will pay a State Visit to the United Kingdom in June, Spanish media reported. The visit, which has not been formally confirmed by either the British or Spanish governments, would be the first visit by a Spanish monarch to the UK in over three decades.
The Loligo squid season took off this weekend in the Falkland Islands and the Galician partners of local companies are hopeful that they can repeat catches of the last season when some 46.000 tons were landed. The experimental sampling previous to the official launching points to stability, according to Javier Touza president of ARVI, the Vigo cooperative of vessel owners.
Argentine president Mauricio Macri started an official state visit to Spain on Wednesday and was received with a display of full military honors of the Royal Household at the Royal Palace. Following a meeting with King Felipe, the president left for Congress where he addressed the full house.