Tag: Luis de Guindos

• Friday, June 22nd 2012 - 07:36 UTC

  Spanish banks need 62bn Euros; full bail-out of the country in the drawing board

  

  Spain's medium-term borrowing costs spiralled to a Euro-era record on Thursday and independent auditors said Spanish banks may need up to 62 billion Euros in extra capital, to be filled mostly by a Euro zone bailout.

• Wednesday, May 23rd 2012 - 01:22 UTC

  Spain anticipated the economy will continue to slump in the second quarter

  

  Spain said it would meet its deficit targets this year despite a new slippage in its regions' accounts and a further contraction of the economy in the second quarter.

• Friday, May 11th 2012 - 21:10 UTC

  Spain in another clean-up of its financial system hoping to restore confidence

  

  Spain told its banks on Friday to set aside another 30 billion Euros to cover potential losses on real estate and ordered an independent audit of their debts, an effort to restore confidence in a sector that is at the heart of the country's financial crisis.

• Wednesday, January 4th 2012 - 06:16 UTC

  Unemployment in Spain climbs to 4.4 million at end of 2011

  

  Spain ended 2011 with record high unemployment, according to data released Tuesday as the new conservative government of Prime Minister Mariano Rajoy considers additional austerity measures to reduce the budget deficit.

• Monday, January 2nd 2012 - 21:59 UTC

  Spanish government confirms Euro zone fourth largest economy is in recession

  

  Spain’s economy is forecasted to contract in the first quarter of 2012 after shrinking in the previous six months admitted Economy Minister Luis de Guindos confirming analysts’ expectations that the Euro zone fourth largest economy is already in recession.

• Friday, December 30th 2011 - 21:39 UTC

  New Spanish government announces draconian measures to balance the budget

  

  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.

• Thursday, December 22nd 2011 - 05:08 UTC

  Orthodox economists will manage the Spanish economy with Rajoy

  

  New Spanish Prime Minister Mariano Rajoy named on Wednesday a cabinet of mostly close advisers charged with reviving the sluggish economy while slashing spending to reassure investors the Euro zone's No. 4 economy can stay solvent.