Archives for June 2011

June 30th, 2011

Andalusian President José Antonio Griñán is to launch a debate this week, with the main focus on education, and is to announce with the Board a plan to activate an initiative to give a second chance to young people who abandoned their education to work in the property industry, and ...

Continue reading Andalusia to Give Out 3,000 Scholarships

June 30th, 2011

In his opening speech in the Debate on the State of the Nation, Spanish Prime Minister, Jose Luis Rodriguez Zapatero, addressed the "collapse" of the real estate sector in Spain, and the "very high rate of unemployment", and said that a change of direction and acceleration of reforms must be ...

Continue reading Zapatero Calls for New Mortgage Protection Measures

June 29th, 2011

At least five forest fires were still burning in Galicia on Sunday, with a total of 70 being recorded at the weekend, and many other regions being put on alert, reported El Pais. The most damaging was recorded in Boiro (A Coruña), which burned 200 hectares of vegetation before being "stabilised," ...

Continue reading Heatwave Causes First Fires of the Summer

June 29th, 2011

Rental prices for houses and apartments on the Spanish coast have seen an average drop of 3% in 2011 compared to last year, according to a study by fotocasa.es. The property portal recorded decreases of up to 15% - with Manilva, in the Malaga province, seeing rental prices drop by 14.8%, ...

Continue reading Spanish Coastal Properties Cheaper to Rent

June 28th, 2011

From 1st of July, the maximum speed will return to 120 km/h. This was decided on Friday by the Council of Ministers, four months after the Board approved the reduction of the speed limit to 110 km/h to help cut fuel consumption because of rising oil prices. Vice President Alfredo ...

Continue reading Spain’s Speed Restriction to be Scrapped

June 28th, 2011

German Chancellor Angela Merkel praised the agreement reached by European leaders to release the new emergency aid for Greece, provided that the Greek parliament approves this week, the adjustment and privatization plan agreed with the EU and the International Monetary Fund (IMF), saying it is "important for the stabilisation of ...

Continue reading Agreement on Greece Important for the Euro, Says Merkel

June 27th, 2011

The United Nations General Assembly unanimously approved on Tuesday the re-election of Ban Ki Moon as Secretary General of the international organisation, which means he will serve a further five year term in office, from January 1, 2012. Ban Ki Moon, a South Korean and former Foreign Minister, started his career ...

Continue reading UN Secretary General Re-elected

June 27th, 2011

Standard and Poor's (S&P), the credit rating agency, on Wednesday cut one notch off Valencia’s long-term debt ratings from 'A+' to 'A' and has warned that the autonomous region may face further downgrades. The fall in revenue due to the Spanish economic crisis, level of debt, difficulty in implementing tough cost-cutting ...

Continue reading S&P Lowers Valencia’s Rating

June 24th, 2011

European countries coordinated their efforts on Wednesday to ask the big banks and insurance companies, who are holders of Greek debt, to become involved in the second bailout of the country. As main creditors, France and Germany led the concerted action on the eve of the Heads of State and Government ...

Continue reading Salgado Calls for Spanish Banks’ Help in Greek Rescue

June 24th, 2011

Borrowed capital decreased by 42% and the average cost of loans fell back 6% to 106,889 euros after a sudden halt in sales. Mortgages doubled their rate of decline in April before the suspension in transactions benefitting from tax deductions offered by financial institutions for home purchases. According to figures published ...

Continue reading Mortgages Drop Most in Two Years with Cut of 38% in April

June 23rd, 2011

The National Statistics Institute, on behalf of the Ministry of Economy, said yesterday that the "most common wage" lies at "about 15,500 euros" per annum. This equates to around 1,000 euros a month. The '1,000 euro wage' is a reality already recognised by government authorities, reports Cinco Dias. The Annual Wage Structure Survey, ...

Continue reading Average Spanish Wage

June 23rd, 2011

The number of international tourists arriving in Spain in May rose 4.2% to 5.2 million, according to Frontur data released on Wednesday by the Ministry of Industry. As reported in Reuters España, the first five months of the year saw the arrival of 19 million international tourists, representing an increase of ...

Continue reading Spain Sees Rise in International Tourism

June 22nd, 2011

The first heatwave is set to arrive next week and will affect the south and the west of the country. Heat in Seville Summer has now officially begun and although thermometers have already been reaching very summery levels, the first actual heatwave is expected by early next week and will be concentrated ...

Continue reading Met Office Predicts an Abnormally Warm Summer

June 22nd, 2011

Echoes of the Spanish protesters reached the euro zone summit of finance ministers. In the midst of negotiations over how to avoid the bankruptcy of Greece, both the branch commissioner, Olli Rehn, and chairman of the Euro group, Jean-Claude Juncker, vowed not to give in to protests and to speed ...

Continue reading Euro Zone Ministers Under Fire Over Social Cuts

June 21st, 2011

Madrid's “Street of Stars” will be Martín de los Heros and the opening, attended by famous directors and actors, will be on June 27. The street in Madrid, Martín de los Heros, is set to become a “sidewalk with history” and a tribute to 25 famous figures of the Spanish cinema ...

Continue reading Madrid Gets its Own “Walk of Fame”