Tag: Spain

• Friday, May 14th 2010 - 04:40 UTC

  Portugal Joins Euro Belt-Tightening Bandwagon but with Strong Political Support

  

  Portugal has become the latest country to introduce austerity measures, after both Greece and Spain took similar steps to stabilize public finances in the face of massive debt.

• Thursday, May 13th 2010 - 11:09 UTC

  Ten “Grumpy” Countries Challenge Resumption of EU/Mercosur Trade Talks

  

  Ten European countries, fearing the impact on agriculture, are openly challenging the EU decision to resume trade talks with Mercosur which is to be officially announced next Monday when the opening of the Latin America, the Caribbean and the European Union Summit in Spain.

• Wednesday, May 12th 2010 - 22:15 UTC

  Spain Under Pressure from Europe Unveils Drastic Cuts to Contain Budget Crisis

  

  Under pressure from Europe to deliver (shape up or ship out) Spain's PM has outlined a plan to tackle the country's budget crisis, amid concerns that problems afflicting Greece may spread across the Eurozone.

• Wednesday, May 12th 2010 - 07:09 UTC

  World Markets Lower After Taking a Second Look at Euro Rescue Plan

  

  United States shares closed lower on Tuesday as global stock markets stalled on niggling worries over European debt problems. On Wall Street, the Dow Jones index closed down 0.34% following a turbulent day's trading, and a nearly 4% rise on Monday.

• Wednesday, May 12th 2010 - 03:54 UTC

  IMF: Euro Countries Must Focus on Cutting Deficits; Denies “Blanket Commitment”

  

  European countries saddled with debt should focus on cutting deficits in the wake of policy makers' unprecedented efforts to contain the region's sovereign-debt crisis, said John Lipsky from the International Monetary Fund.

• Saturday, May 8th 2010 - 06:39 UTC

  Spanish Recession and Lack of Jobs Forces Latam Immigrants to Return Home

  

  More immigrants from non-European Union countries are returning to their native lands this year with help from the Spanish government, a situation similar to 2009, when the number of immigrants forced to pack up and go doubled because of the economic crisis.

• Saturday, May 8th 2010 - 06:06 UTC

  Spain Emerges from Two-Year Recession with More Doubts than Certainties

  

  Spain’s economy emerged from an almost two-year recession in the first quarter, trailing the Euro area by six months. GDP expanded 0.1% in the first three months of 2010, the Madrid-based Bank of Spain estimated in its monthly report today.

• Friday, May 7th 2010 - 21:34 UTC

  Honduran President Calls Brazil “Arrogant”, Steps Down from Latam/EU Summit

  

  Honduran president Porfirio Lobo will not attend the LAC-EU summit in Spain later this month, after South American leaders who do not recognize him as his country's legitimate leader threatened to pull out. However, he will attend the EU/Central America meeting, which will be held a day later.

• Friday, May 7th 2010 - 05:36 UTC

  Greek Default “Is Not an Option” and “Never Has Been” Says IMF

  

  A default by Greece on its debt obligations is not and has never been an option, a spokeswoman for the International Monetary Fund (IMF) said on Thursday. A Greek “default is not on the table, has not been on the table” insisted IMF director of external relations Caroline Atkinson.

• Friday, May 7th 2010 - 05:33 UTC

  ECB Leaves Euro Policy Unchanged; European Leaders Set to Approve Greek Rescue

  

  European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.