Spain’s Pescanova SA (PVA), Europe’s second- biggest fish processor, plunged 60% after it started the initial phase of seeking creditors’ protection and delayed results pending asset sales and a debt renegotiation.
US multinational financial service corporation Morgan Stanley has declared that Spain has already got over the worst of the economic crisis and augurs that it “will become the next Germany” in the European Union. This however is challenged by the Financial Times, Goldman Sachs, Citibank and the IMF.
Chief Minister Fabian Picardo this week wrote to the Financial Times after the respected financial daily made a glaring error about Gibraltar in an editorial column centred on Argentina.
The Spanish Ministry for Foreign Affairs has contacted the US government to express its unease over the recent visit by the Gibraltar Government to Washington, according to reports published in Spain.
Catalonia regional parliament has approved a declaration proclaiming the Catalan people a “sovereign political and legal entity”. The motion also calls for a referendum to be held to allow Catalans their say on independence.
Gibraltar must remain steadfast in its own position on sovereignty the Chief Minister Fabian Picardo has made clear. In a wide-ranging New Year message broadcast last week on GBC Mr Picardo took up the recent remarks made by Spain’s ruling party (Partido Popular) and urged them to return to tripartite dialogue as the (opposition) PSOE in Andalucia is also urging.
Spain is to toughen its stance over Gibraltar in the long-running dispute over sovereignty following a year that has seen an increase in diplomatic tensions, according to reports in the UK daily The Telegraph.
Foreign investors put more money into Spain in October than they took out, marking the second month running the country has benefited from an influx of capital. Spain registered capital inflow of 12.1 billion Euros in October, the Bank of Spain said on Friday. The figure, which excludes central bank operations, was lower than the 31 billion Euros of inflow in September.
Spain has taken a step back with import restrictions on Argentina’s bio-diesel applied in a reprisal move after Argentine president Cristina Fernandez decided to seize control of energy company YPF, subsidiary of Spanish Repsol, earlier this year.
As tension with Spain escalates the British Government made clear that it would take “all necessary and proportionate” measures to maintain the integrity British sovereignty of Gibraltar and its waters. Europe Minister David Lidington set out the position in a letter to the Governor, Sir Adrian Johns, in response to the petition organised by the Defenders of Gibraltar.