Obama congratulates Rajoy for “progress” in his economy

The president of Spain, Mariano Rajoy, on his first visit to the White House, tried to impressed Barack Obama with the pseudo idea of ​​an improvement of the Spanish economy. Obama congratulated Rajoy for his “progress,” but also reminded him of the “huge...

Bank of Spain Would Ward Regular Banks

The Spanish government is preparing a decree which will allow the Bank of Spain to place under guardianship the banks in difficulty, before reselling in doubt about their viability. This decree, still subject to change, is expected to be approved by the government in the Cabinet...
Eurozone

German Parliament will Support Financially the Spanish Bank

This morning, German Parliament, Bundestag, is ready to recapitalize the Spanish Bank with European funds. Germany will give a loan of 100,000 million euros to be granted through the European Financial Stability Fund (EFSF). This aid is going to be paid with the condition that...
Eurozone

Eurozone Will Provide First Draft of Political Agreement on Loan to Spain

Finance ministers from the Eurozone reported that tomorrow will close a “political agreement” on terms and conditions on the loan of 100,000 million euros that will be asked Spain to recapitalize its banks. The memorandum of understanding was drafted by European...
Eurogroup may Suspend Loan to Spanish Banks

Loan to Spanish Banks may be Suspended by the Eurogroup

Spanish banks could lose the loan that the Eurozone has provided them, if they were to fail on their commitments to the excessive deficit procedure. Community sources recalled that this loan does not mean “no additional conditionality” macro. They also underlined that...
INE confirms the Spanish Economy Went into Recession at the beginning of 2012

INE confirms the Spanish Economy Went into Recession at the beginning of 2012

The Spanish economy went into recession after falling 0.3% between January and March and put two consecutive quarters of contraction, according to final figures released today by the National Statistics Institute (INE for its Spanish acronym). The 2.6% contraction in investment...
King Juan Carlos

Spanish Royal Family Studies Reductions in Costs and Salaries

Sources from the Spanish Royal House announced today that it plans to reduce protocol costs and higher wages to save trim the € 170,000 that includes the draft State budget for this year. Sources said it is expected that this pay cut affects the three senior management positions...

Cuts of 10,000 million euros in Education and Health were announced in Spain

Spanish prime minister, Mariano Rajoy, has accelerated reforms and cuts. Rajoy plans to cut 10,000 million euros in education and health, the Executive made the announcement in a press release. The note speaks of future privatizations, changes in health and education and...
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