spanish banks
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 7th, 2011
The four big Spanish banks - Santander, BBVA, Popular and Caixabank - made a joint profit of 9,695 million euros in the first nine months of 2011, translating to a decrease of 14% over the same period last year, and reflecting the difficult crisis environment in which they are operating, ...
Continue reading Big Banks Earn 14% Less to September
November 2nd, 2011
The European Union has called for joint action at the G20 summit this week in Cannes (France) in order to revive the world economy, believing that the stabilisation of the EU economy will not be enough. "A joint action is required by all G20 members," said the Presidents of the European ...
Continue reading EU Calls for Joint Action of G20 to Revive World Economy
November 1st, 2011
One in two Spanish households have outstanding debt arising from the acquisition of their primary residence or other real estate, investments and home improvements, as well as for the purchase of vehicles and other goods and services. This was noted by the Bank of Spain in an article in their latest ...
Continue reading Spanish Top Home Owners
October 28th, 2011
Spanish Prime Minister, José Luis Rodríguez Zapatero, said early Thursday morning after the Brussels summit, that the five Spanish banks which must increase their capital by a total of 26,161 million euros in order to gain financial strength, need not rely on public support to address recapitalisation, as called for ...
Continue reading Spanish Banks Will Not Need Public Funding, Says Zapatero
October 27th, 2011
The Lower House of the German Parliament (Bundestag) approved, with an overwhelming majority of 503 votes in favour versus 89 votes against and 4 abstentions, the proposal of the German Chancellor, Angela Merkel, to expand the capacity of the European Financial Stability Fund (EFSF) without increasing the contribution of German ...
Continue reading Germany Supports Strengthening of Bailout Fund
October 19th, 2011
Finance ministers of the G-20, a forum bringing together the major developed and emerging economies of the world, has urged countries in the euro zone to reinforce the capacity of the European Financial Stability Fund (EFSF) to dispel the doubts of the markets on their ability to protect Spain and ...
Continue reading G-20 Urges Europe to Resolve Debt Crisis to Avoid Global Contagion
October 18th, 2011
The President of the European Central Bank (ECB), Jean Claude Trichet, said that the institution has done "all that can be done" to find a solution to the debt crisis in the euro zone, and stressed that now it is the Governments that must deal with this situation. "I think the ...
Continue reading Trichet Believes in European Unity
October 17th, 2011
Eurogroup Chairman Jean-Claude Juncker, has proposed ten steps to resolve the crisis in the euro zone, including automatic sanctions for fiscally irresponsible governments, greater powers for the Commission, and a dividend for taxpayers in return for the bank bailouts, reported Diario Sur. In an interview with the German newspaper "Handelsblatt" published ...
Continue reading Juncker Seeks Fines for Fiscally Irresponsible Governments
October 12th, 2011
Banco Popular, Spain’s fifth-biggest listed bank by assets, has offered to buy its smaller listed rival Banco Pastor in a merger that marks a new stage in the restructuring of the country’s financial sector. In filings published on Friday by the Comisión Nacional del Mercado de Valores (CNMV), the market regulator, ...
Continue reading Spanish Banks in Merger Talks
October 7th, 2011
The ratings agency Standard & Poor's has revised downward, for the second time since 31st August, its economic growth forecasts for the euro zone, with a GDP growth estimate of 1.1% for 2012, compared to the previous projection of 1.5%, while leaving its forecast for Spain unchnaged, at ...
Continue reading S & P Maintains Growth Forecast for Spain
October 5th, 2011
Spanish property is enjoying a new wave of overseas investors, most likely due to the substantial discounts on offer. Foreign investment in property in Spain surged by 32.8% in the first half of 2011 over the same period in 2010, to 2,445 million euros, according to the Bank of Spain. Moreover, ...
Continue reading Foreign Investment in Spanish Property Jumps by 32.8%
October 3rd, 2011
While Europe is facing economic issues, the crisis hasn’t deterred British buyers from snapping up property on the Continent. Currency exchange specialist World First says transactions for holiday home purchases in Spain, more than doubled over the summer. However, one of the effects of the global banking crisis has been ...
Continue reading Brits Picking Up A Spanish Property Bargain
September 30th, 2011
Spain's central bank chief has confirmed that the 13.39 billion euro clean-up of its banks has completed. He has now called on Europe's policymakers to solve the sovereign-debt crisis that now threatens the health of banks across the EU. "What is obviously a priority is the resolution of the sovereign debt ...
Continue reading Spanish Bank Restructuring Now Complete
September 14th, 2011
At a meeting of the Council of Ministers this Friday, 16th September, the Spanish Government plan to reintroduce the Wealth Tax, which was abandoned in 2008. Speaking at a rally in the Jaime Vera de Galapagar Institute in Madrid on Sunday, the socialist candidate for president, Alfredo Pérez Rubalcaba, asked the ...
Continue reading Spanish Government to Reinstate Wealth Tax
