• Spanish Economy Ready to Grow, Says Eurozone Forecast

    “The Spanish economy seems to have bottomed out and be ready to start growing,” says the latest forecast from consultants, Ernst & Young, who estimate that the Spanish economy will fall by 1.7% this year but rebound by 0.2% in …

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  • Spain’s Royal Budget Cut to 7.93 Million Euros

    The Casa del Rey released figures yesterday to explain the distribution of the 7.93 million euros to be received by the institution from the State Budget, which is 4% less than 2012 and equates to a saving of 330,570 euros. …

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  • 2012 GDP Will Fall Less Than Expected, Says De Guindos

    The Minister of Economy and Competitiveness, Luis de Guindos, has said that the Spanish economy will end this year better than initially predicted, as the contraction of the GDP will be around 1.3% or 1.4%, compared to the 1.5% calculated …

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  • Spain’s King Takes a Pay Cut

    Sources from Spain’s Royal House have reported that King Juan Carlos has decided to voluntarily cut his gross income, as well as that of the Prince Felipe of Asturias, by 7.1%. In addition, King Juan Carlos has decided to lower …

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  • Barcelona and Madrid Among 20 Best Student Cities

    Two Spanish cities, Barcelona at No. 11 and Madrid at No. 16, have been included in the list of the 20 best cities in the world for students, in a new ranking released at the weekend by QS, a company …

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  • Moody’s Downgrades Spain’s Debt Rating

    The rating agency Moody’s has downgraded the sovereign debt rating of Spain and five other European countries, while at the same time placing France, Austria and the UK (who are presently enjoying the maximum ‘Aaa’ note), on negative outlook. The …

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  • Ernst & Young: “Spanish Recovery Likely in Second Half of Next Year”

    The crisis that began in the second half of 2007 is still continuing. The consultancy firm Ernst & Young’s report on Spain’s prospects for the coming years is based on the slowdown in the economy since the first quarter of …

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  • Santander, BBVA and Banesto Rank Among the 50 Safest Banks

    Europe boasts 30 banks among the safest in the world in 2011, and features in the top ten, despite the sovereign debt crisis. Santander, BBVA and Banesto are among the 50 safest banks worldwide, according to the ranking by Global …

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  • Forthcoming Election Hinders House Purchases

    Experts predict that the fall in house sales, from 22.9% in June (according to the National Statistics Institute) will continue until the end of 2011 because of economic uncertainty, although the price adjustments are slowing, according to Cinco Dias. Business …

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  • The IMF Will Contribute Less than One-Third of Greek Rescue

    The U.S. newspaper The Wall Street Journal said last week that the IMF is concerned about its huge long-term exposure to the euro, reminding that the institution has already pledged to provide 78,500 million euros for Greece, Ireland and Portugal …

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  • CAM Bank to Close 122 Branches

    Caja Mediterráneo (CAM) is continuing with its cost reduction plans, to be implemented this year, which will result in the closure of a total of 122 branches, 27% of their total network. The bank are confident the implementation of its …

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  • Spanish Galleon Treasure Found in Florida

    A gold ring with an emerald worth $500,000, which was part of the treasure of the seventeenth-century Spanish galleon “Nuestra Senora de Atocha”, has been found in the Florida Keys at the southern tip of Florida, according to Mel Fisher’s …

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  • Germany Defends Legality of the Euro Rescue Fund

    German Finance Minister, Wolfgang Schäuble, defended before the German Constitutional Court on Tuesday, the legality of the euro rescue fund and the European Union and International Monetary Fund’s aid program for Greece, saying “Germany does not take any decision on …

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  • IMF Chooses Christine Lagarde as New Chief

    The executive council of the International Monetary Fund (IMF) has chosen by consensus to elect French Finance Minister, Christine Lagarde, as the new managing director of the fund for the next five years, announced the IMF in a statement. Lagarde, …

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  • Spain’s Speed Restriction to be Scrapped

    From 1st of July, the maximum speed will return to 120 km/h. This was decided on Friday by the Council of Ministers, four months after the Board approved the reduction of the speed limit to 110 km/h to help cut …

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