Articles tagged as: debt crisis

October 14th, 2013

The Spanish Government stated in the 2014 Budget that Spain’s Gross Domestic Product (GDP) will grow by 0.7% - a figure that has been described as "prudent" by the Prime Minister, Mariano Rajoy. The International Monetary Fund (IMF), however, believes that these estimates are too optimistic. In their latest 'Global ...

Continue reading IMF Revises 2014 Forecasts for Spain

May 23rd, 2013

According to a study carried out recently by the international investment manager, Schroders, Spanish investors, along with the Italians and Portuguese, showed the least confidence in investment opportunities for the current year. The survey, conducted among 14,800 investors from over twenty different countries, specifically places the Spanish as the third ...

Continue reading Spanish Investors Among Least Optimistic for 2013

February 1st, 2013

The Minister of Economy and Competitiveness, Luis de Guindos, announced this week in Parliament a series of measures to improve the functioning of the mortgage market in Spain, and protect those particularly vulnerable as a result of the crisis. The announcement was made during the minister’s speech to defend the ...

Continue reading Economy Minister Announces New Mortgage Measures

January 15th, 2013

The European Central Bank President, Mario Draghi, has encouraged Spain and other southern European countries to persevere with their sacrifices. In a press conference when the central bank announced their decision to maintain the official price of money unchanged at 0.75% in the eurozone, Draghi responded to criticisms that have ...

Continue reading Draghi Urges Spain to Persevere With Sacrifices

November 23rd, 2012

After his meeting with the President of Brazil, Dilma Rousseff, the Spanish Prime Minister, Mariano Rajoy, highlighted the excellent health of relations between the two countries. Rajoy spoke to Rousseff about Spain's interest in the economic development of her country and in the investment projects being undertaken by the Brazilian ...

Continue reading Spain Strengthens Relations With Brazil

November 15th, 2012

At the closing ceremony of the 15th National Conference of the Family Business Institute (IEF) in Barcelona, the Vice-President of the Spanish Government, Minister for the Presidency and Government Spokesperson, Soraya Sáenz de Santamaría, announced that the Government will approve a Royal Decree-Law on Thursday which will contain the "most ...

Continue reading Government to Announce Urgent Measures on Evictions

November 8th, 2012

According to the Consumer Confidence Index data released on Monday by the Centre for Sociological Research, consumer confidence in Spain rose 1.6 points in October, compared with the previous month, reaching 44.8 points. This favourable result, is the third consecutive rise following those of August and September, and is due both ...

Continue reading Consumer Confidence Up 1.6 Points in October

November 7th, 2012

According to provisional data published on Monday by the Bank of Spain, Spanish families held debts amounting to 840,580 million euros in September, which is 4.2% less than a year earlier and the lowest level since June 2007. Of these 840,580 million euros, the greatest part, 77%, was for loans for ...

Continue reading Household Debt Lowest Since Start of Crisis

November 7th, 2012

The number of unemployed people registered at the offices of the public employment services (formerly INEM) rose by 128,242 in October, which is up 2.7% compared to September, and put the total number of people unemployed in Spain at 4,833,521, the highest level in the comparable historical series, which started ...

Continue reading Unemployment Rises in October

November 2nd, 2012

According to a global study carried out by consultancy firm, Nielsen, 86% of the Spanish claim to have changed their buying habits over the last year in order to save on household expenses. This percentage is "well above the European average," which is currently at 65%. The study noted that ...

Continue reading 86% of Spanish Have Changed their Shopping Habits

October 8th, 2012

Recent data published by the OECD and released by the Economic Research Institute stated that Spanish workers worked an average of 1,690 hours in 2011, which representing a 19.6% increase over the 1,413 hours worked by Germans. According to the data, developed countries worked an average of 1,776 hours in ...

Continue reading Spanish Worked 20% More Hours than Germans in 2011

October 1st, 2012

Spain’s domestic electricity tariff (TUR) is to become cheaper by 2.29% from 1st October, while the price of natural gas will remain the same and the price of a gas cylinder will drop by 4.6%. The Ministry of Industry, Energy and Tourism confirmed in a statement, that the 4.6% drop ...

Continue reading Electricity and Gas Prices to Drop in October

September 27th, 2012

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has urged politicians around the world to take advantage of the opportunities the latest political decisions offer, in order to implement actions which will achieve a decisive change in the global crisis. "This time we need a sustained recovery, ...

Continue reading IMF Says “Europe Still Needs Urgent Action”

September 19th, 2012

In application of the Budgetary Stability Act, the Minister for the Treasury and Public Administration Services, Cristóbal Montoro, accompanied by the State Secretary for Budgets and Expenditure, Marta Fernández Currás, and the State Secretary for Public Administration Services, Antonio Beteta, announced the 2012 second quarter budgetary performance figures for the ...

Continue reading Regional Governments on Track for Year End GDP Target

September 17th, 2012

According to a study entitled "Transatlantic Trends 2012" released last Thursday by the BBVA Foundation, 27% of Spanish citizens believe it would be necessary to leave the euro and return to the peseta, compared to 30% that are opposed to that option. The report notes that Spain is one of the ...

Continue reading One in Four Spanish Would Bring Back the Peseta