Archives for July 2011

July 29th, 2011

The Spanish Prime Minister confirmed in a press conference today, that the next general election, scheduled for March 2012, will be brought forward to November 20. The decision to advance the election was taken "because the new elected government takes over all fiscal responsibilities for 2012 and so this will ...

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July 29th, 2011

The U.S. newspaper The Wall Street Journal said last week that the IMF is concerned about its huge long-term exposure to the euro, reminding that the institution has already pledged to provide 78,500 million euros for Greece, Ireland and Portugal until 2014, a figure higher than the participation of these ...

Continue reading The IMF Will Contribute Less than One-Third of Greek Rescue

July 29th, 2011

The Chairman of the Spanish Association of Registrars, Alfonso Candau, submitted this week to the Secretary of State for Housing, Beatriz Corredor, their new 'on line' service, created by the agency in order to help foreigners obtain information in English on more than 1,000 records of properties distributed across Spain. ...

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July 28th, 2011

Budget airline Ryanair announced on Tuesday that they plan to reduce routes from Girona Airport from 46 to 25, an additional 21 routes. This new cut is to be implemented in October, at the start of the winter season, and is in response to the lack of a competitive agreement ...

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July 27th, 2011

The Spanish Prime Minister, José Luis Rodríguez Zapatero insisted on Monday that after two or three issues, it is clear that the euro zone "will not drop Greece" and stressed that private sector participation in Greece’s second bailout is "exceptional and unique." "Private participation is only for Greece, because the ...

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July 27th, 2011

The European Commission on Monday gave the green light to the intervention by the Bank of Spain of the Caja Mediterráneo (CAM), considering it raises no problems of competition. The operation was announced last Friday and includes a 3,000 million euros line of credit to provide the necessary liquidity, and an ...

Continue reading European Commission Authorises CAM Bank Intervention

July 26th, 2011

One in five Madrid residents are contemplating buying a home in the next 12 months, before July 2012, according to a study commissioned by Urban Development Group, Valdebebas. According to Europa Press the report notes that the average buyer is searching for a home in Madrid for no more than 350,000 ...

Continue reading Madrid Property Sees Surge in Demand

July 25th, 2011

In December 2009, for the first time, the Spanish Government sheepishly pointed out the need to extend the length of working life in Spain to safeguard the pension system. And last week, after a War of Words lasting 20 months, filled with draft publications, misunderstandings and confusion, Congress finally approved ...

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July 25th, 2011

Spain recorded a further increase in foreign tourist visits for the first 6 months of the year, receiving 24.8 million foreign visitors, an increase of 7.5% over the same period in 2010, according to the Ministry of Industry, Tourism and Trade. And in June, the flow of tourists increased by ...

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July 22nd, 2011

A plague of jellyfish has hit the beaches of La Manga as a result of a ship accidentally tearing the safety net that the autonomous community puts up each year to contain these creatures and stop them reaching shore. The jellyfish piled on the beaches or floating in the water of ...

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July 22nd, 2011

Heads of State and Government of the euro zone countries held an emergency summit yesterday, to try to reach an agreement on the second rescue of Greece, with the aim of curbing the spread of the debt crisis in Spain and Italy. The preliminary agreement reached yesterday morning after seven hours ...

Continue reading Merkel and Sarkozy Pave the Way for a Deal on Greece

July 21st, 2011

About 95 percent of Europeans connect to the Internet during their holiday period, to avoid having to log off from their email accounts, both personal and work, or from social networks and other online entertainment sites. This is one of the main conclusions of a study carried out by networking solutions ...

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July 21st, 2011

The Spanish Prime Minister, José Luis Rodríguez Zapatero, said yesterday that the "only way" to improve the credit situation is for the financial sector to conclude their restructuring and solvency plans, although he did warn that as a result of the country’s indebtedness, "there would certainly be a period of ...

Continue reading Zapatero: “The only way out of the crisis is to have sound institutions”

July 20th, 2011

A total of 18,561 properties were purchased by foreigners in Spain in 2010, representing 4.45% of all homes sold last year, according to the Annual Report of the College of Registrars. The percentage of homes purchased by other countries remains well in line with that of 2009 (4.24%), but is below ...

Continue reading 18,561 Properties Sold to Foreigners in Spain in 2010

July 20th, 2011

Despite the 13.9% growth of foreign tourism in Spain in the second quarter of this year, many businesses are still wary of the predicted increase in revenue in the sector over the summer season. The arrival of summer has kick-started tourism enterprises in Spain and 36% of businesses in the sector ...

Continue reading 36% of Spanish Tourist Industry Expect a Better Summer