Articles tagged as: ecb

September 11th, 2013

In July, the cost of loans to small- and medium-sized enterprises (SMEs) in Spain and Italy stood at their lowest levels of the past two years, but are still well above the interest rates enjoyed by their German counterparts, the Financial Times newspaper highlighted last week. Specifically, the article points out ...

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February 21st, 2013

The President of the European Central Bank, Mario Draghi, said on Monday, before the European Parliament, that economic weakness will prevail in the eurozone in early 2013, but that he foresees a gradual recovery throughout the year. During his speech, Draghi warned that any relaxation of fiscal adjustments would jeopardise economic ...

Continue reading Draghi Insists Eurozone will see Gradual Recovery During 2013

February 18th, 2013

BBVA Research has improved its forecasts for the Spanish economy and has predicted its fall in 2013 will be 1.1% of the GDP, which is three points less than its previous forecast. However, they have worsened their estimates for unemployment by seven tenths, to 26.8% of the working population. This is ...

Continue reading BBVA Revises its Forecasts for Spain for 2013

December 24th, 2012

In his speech last week in the Spanish Parliament to report on the results of the last two European summits, the Prime Minister, Mariano Rajoy, said that the ECB bank supervision is a "guarantee" for the financial system and that he considered that the new banking supervisory authority will make ...

Continue reading Rajoy Believes ECB Banking Supervisor Will Facilitate Loans to SMEs

November 2nd, 2012

According to recent data published by the Spanish Mortgage Association (AHE), mortgages are now 40% cheaper than four years ago when the Euribor reached the highest level in its history (above 5%), with an average mortgage now costing 3,420 euros less. In October 2008, the monthly payment for an average mortgage ...

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August 16th, 2012

After his audience with King Juan Carlos of Spain, the Spanish Prime Minister, Mariano Rajoy, announced that on 24th August the Council of Ministers will extend, with retroactive effects to 16th August, the 400 euro benefit for the long-term unemployed with no other income, but who have registered on training ...

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August 9th, 2011

The leaders of the euro zone central banks agreed on Sunday to intervene decisively in the markets in response to the escalating crisis, sparked off by debt problems in the USA. The European Central Bank (ECB) has already moved into action and is planning to buy Italian and Spanish debt, ...

Continue reading ECB Purchases Debt from Spain and Italy

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 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

December 8th, 2009

News this week of new laws to help Spanish companies reduce employment costs may seem like a backward step for full employment, but it's a necessary one if Spain is ever again to be competitive in Europe. At last, Zapatero's government has conceded that they need to reform Spanish labour laws. I ...

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