debt crisis
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
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
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
September 17th, 2012
The Director-General of the Spanish Tax Office, Beatriz Viana, presented the early figures to July from the results of action to prevent and combat tax fraud in Spain. In the first seven months of 2012, the result has surpassed initially forecast figures by 25% and amounts to a total of ...
Continue reading Spanish Tax Office Revenue up 25% due to Anti-Fraud Measures
September 11th, 2012
In an interview published in the Italian newspaper Il Sole 24 Ore on Sunday, the financial vice-president of the European Commission (EC), Olli Rehn, said that it will not be necessary to review the projected deficit targets for Spain, as the country "will manage to fulfill them". The European ...
Continue reading Not Necessary to Review Spain’s Deficit Objectives, Says Rehn
August 9th, 2012
The Spanish economy will shrink by 1.4% both in 2012 and in 2013 because of persistent financial strains and lack of concrete solutions at the EU level, says the BBVA. They further predict that the unemployment rate will touch 26% next year and are calling for Europe to reduce the ...
Continue reading BBVA Revises Forecast for Spanish Economy
August 3rd, 2012
Spanish holiday homes for rent located within 15 kilometres of the beach have registered an occupancy rate of 84.9% for the month of August, 0.1% less than the same month of 2011, according to a study by the holiday rentals portal, Rentalia.com. The report notes that the three coastal destinations with ...
Continue reading Coastal Holiday Home Rentals up in August
July 4th, 2012
The unemployment rate in the eurozone rose one-tenth in May, to 11.1% of the active population, from the 11% registered in April, according to data released on Monday by the European statistics office, Eurostat. This is the highest level recorded since 1995, when the comparable series began. The figure is in ...
Continue reading Eurozone Unemployment Reaches Record 11.1% in May
June 28th, 2012
The Heads of State and Government of the eurozone will discuss this Thursday and Friday, at the European Summit in Brussels, moving towards greater banking and fiscal integration in the monetary union, which will mean a loss of sovereignty of member states and greater budgetary control by the EU institutions. The ...
Continue reading EU Proposes Limiting Defaulting Countries’ Issuance of Debt
June 27th, 2012
Speaking at the closure of the General Assembly of the Spanish Federation of Business Organisations (CEOE), the Spanish Prime Minister, Mariano Rajoy, said that "maintaining budgetary stability and reforming our economies is an essential requirement for recovering confidence in the euro." He also said that the Government has an unshakeable ...
Continue reading European Council Must Address “Critical Situation in Europe”, Says Rajoy
June 6th, 2012
The Government of German Chancellor, Angela Merkel, has developed a package of measures to promote economic growth and job creation in the European Union to achieve the necessary support of the opposition parties to the ratification of the fiscal pact in the Bundestag. An eight-page document entitled "More growth for Europe: ...
Continue reading Merkel Draws Up EU Growth Plan to Ratify Fiscal Pact
May 24th, 2012
The Spanish Secretary of State for Trade, Jaime García-Legaz, said yesterday that there is "light at the end of the tunnel" and that 2012 will be "the last year of crisis" in Spain. He also said that if the Government raises VAT then, at the same time, it will lower ...
Continue reading 2012 Will Be “Last of Crisis” for Spain, Says García-Legaz
May 17th, 2012
The services sector recorded a fall in its turnover in March of 5.3% over the same month of 2011, which marks seven months of declines year-on-year, according to provisional data published on Wednesday by the National Statistics Institute. The annual decline in March has increased compared to that recorded in February, ...
Continue reading Services Sector Decline Deepens in March
May 7th, 2012
According to the consumer confidence index, 2.8% of those surveyed by the Centre for Sociological Research (CIS) intends to buy a house in 2013. Consumer confidence plummeted 13.4 points in April over the previous month, one of the worst data of the whole series, which began in 2004. In terms of ...
Continue reading 2.8% of Spanish Plan to Purchase a Property in 2013
May 3rd, 2012
The rating agency, Standard & Poor's, has lowered the credit ratings of 11 Spanish banks a week after cutting Spain’s 'rating' by two notches. The agency has been monitoring the ratings of 16 Spanish banks in total, the analysis of which will be completed by the end of May. For now, ...
Continue reading Standard & Poor’s Cuts ‘Rating’ of 11 Spanish Financial Institutions
