Tag: Spain

• Friday, January 6th 2012 - 07:01 UTC

  Spanish banks must set aside 50bn Euros to cover ‘toxic’ real estate assets

  

  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.

• 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 29th 2011 - 21:33 UTC

  Spanish royals exposed: son in law involved in scandal and Crown expenses made public

  

  The Spanish king's son-in-law was charged Thursday in a fraud and embezzlement case that has damaged the royal family, which this week took the unprecedented step of disclosing its income.

• Wednesday, December 28th 2011 - 03:31 UTC

  Madrid has first woman mayor; promises to bid for 2020 Olympic Games

  

  Ana Botella, the wife of former Spanish Prime Minister Jose Maria Aznar, was sworn-in Tuesday as Madrid’s first woman mayor. She succeeds Alberto Ruiz-Gallardon, mayor of the capital since 2003, who resigned to serve as Justice Minister in the new Conservative government of Prime Minister Mariano Rajoy.

• Monday, December 26th 2011 - 11:21 UTC

  Falklands’ flagged vessels: Spanish fishermen call on Madrid to fight Argentine blackmail

  

  The President of the Spanish Association of Marine Fishing Officers (Aetinape), José Manuel Muniz, has asked the new Spanish government to get involved and act against the pressure placed on Falklands-flagged vessels by the Argentines, according to an article in the Galician newspaper Faro de Vigo, which examined the Spanish reaction to the ban on the entry of Falklands flagged vessels to Mercosur ports.

• 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.

• Wednesday, December 21st 2011 - 02:26 UTC

  Congress votes Rajoy PM who anticipates even tougher austerity measures

  

  Spanish lawmakers voted Tuesday to make conservative leader Mariano Rajoy the new prime minister, approving his program of sweeping budget cuts and tough economic reforms.

• Wednesday, December 21st 2011 - 00:48 UTC

  ”Gibraltar at this moment, a minor issue” says Spanish Conservative think-tank

  

  A senior director at a Conservative think-tank founded by Jose Maria Aznar, Spain’s former Popular Party prime minister, said Gibraltar was low on the list of priorities for Madrid, particularly at a time of crisis when it needed the UK as an ally.