Archives for November 2011

November 30th, 2011

Sunday was the World Day of Remembrance for Victims of Traffic Accidents. The good news for Spain is that over the last 10 year period, traffic mortality has fallen more than 50 percent, from 5,517 fatalities in 2001 to 2,478 last year. A total of 41,665 people lost their lives ...

Continue reading Traffic Deaths Down 50% in 10 Years

November 30th, 2011

According to the latest study carried out by the Youth Council of Spain (CJE), young Spanish people need to spend more than half of their net income (53.5%) in order to buy a home, which explains in part why only four out of ten are able to afford to purchase ...

Continue reading Only Four in Ten Young Spanish Can Afford to Buy a Home

November 29th, 2011

Perhaps it is a little known fact, but the Iberian Peninsula is considered by experts as an area of high risk for tsunamis. Some of Spain’s cities have, in fact, suffered the destructive impact of these large waves many times, especially in the Gulf of Cadiz and along the Mediterranean ...

Continue reading Spain – an area at high risk of tsunamis

November 29th, 2011

Home sales fell 31.9% in the third quarter of 2011 over the same period of 2010, accounting for 84,852 transactions, and representing the lowest figures recorded by the Association of Property Registrars since 2005. The agency attributed the data to the difficult economic situation and high unemployment, which has not been ...

Continue reading House Sales Fall to Record Low Since 2005

November 28th, 2011

The Spanish regions of the Canary Islands, Andalucia, Ceuta, Melilla, Murcia, Valencia, Extremadura and Castilla La Mancha, together with the French overseas departments of Réunion, Guadeloupe, French Guiana and Martinique, recorded the highest levels of unemployment across the EU in 2010, according to figures released last week by Eurostat. Specifically, Europa ...

Continue reading Eight Spanish Regions on the EU Highest Jobless List for 2010

November 28th, 2011

British magazine The Economist warns in its latest issue that the breakdown of the euro could happen in the coming weeks. In an article entitled "Is this really the end?", it says that "the fall of the single currency could occur within weeks", and it calls for the European countries, ...

Continue reading Euro May Fall “Within Weeks”

November 25th, 2011

The Institute of International Finance (IIF) has said that the situation in the euro zone "has deteriorated" in the last month dropping "into a new recession," which will shrink the European economy by one percent of its Gross Domestic Product (GDP ) in 2012. "The situation in the euro zone has ...

Continue reading Euro Zone Already in Recession, Says World Bank

November 25th, 2011

The economic crisis and rising unemployment have increased the fear of rental apartment owners. Seven in 10 thought that their tenants would not be able to meet the rental payments and end up becoming delinquent. This was one opinion that emerged from a study carried out by the legal expenses ...

Continue reading 70% of Landlords Fear Tenants Defaulting

November 24th, 2011

The International Monetary Fund (IMF) has finalised its ‘Preventive Liquidity Line’, a credit line agreed at the G-20 summit in Cannes to assist countries in the Eurozone who need emergency money. "These reforms will enable the Fund to be more responsive to the diverse needs of members with sound (economic) policies," ...

Continue reading IMF Creates Emergency Credit Line to Protect Eurozone

November 24th, 2011

During the month of October, 24.7 million overnight stays were recorded in hotel establishments in Spain, indicating a 3.2% increase over the same month in 2010. Overnight stays by residents decreased by 9.3%, while non-resident stays increased by 11.1%. The average stay increased 3.5%, compared with October 2010, to 3.2 nights ...

Continue reading Overnight Hotel Stays Increase 3.2% in October

November 23rd, 2011

German Chancellor Angela Merkel, sent a telegram to the PP leader, Mariano Rajoy, to congratulate him on his victory in Sunday's elections, highlighting the "clear mandate" that the Spanish have given him, to perform "rapid reforms" in these "difficult times" for Spain and Europe. In her message, sent after the Chancellor’s ...

Continue reading Merkel Calls for “Rapid Reforms” in Spain

November 23rd, 2011

Standard & Poor's rating agency has maintained the 'AA-' rating on Spain’s solvency, a qualification between 'good' and 'remarkable', although it also maintains the "negative outlook" after the change in the Spanish Government on Sunday. The agency Fitch has also upgraded its post-election analysis: maintaining the 'AA-' rating for Spain although ...

Continue reading Ratings Agencies Maintain Spanish Debt Note

November 22nd, 2011

The German Chancellor, Angela Merkel and the French President, Nicolas Sarkozy, along with British Prime Minister, David Cameron, have transmitted to the PP leader, Mariano Rajoy, their congratulations on his victory at the polls this past Sunday. PP sources reported on these communications, but indicated that Rajoy has yet to ...

Continue reading World Leaders Congratulate Rajoy

November 22nd, 2011

With 99.52 percent of votes counted in the Spanish polls on Sunday, Mariano Rajoy’s PP achieved its best result ever, with a large absolute majority of 186 seats, three more than those achieved by José María Aznar in 2000, while the PSOE suffered its greatest defeat collapsing to 110 seats, ...

Continue reading PP Wins Landslide Victory in Spain’s Parliamentary Elections

November 21st, 2011

The rate of inflation in the eurozone in October remained at 3%, the same level as in the previous month, but well above the 1.9% recorded a year ago, according to data published by the European statistics office, Eurostat. El Mundo reported that in the whole of the EU, prices registered ...

Continue reading Eurozone Inflation Stable in October