Spain’s Former King Juan Carlos Leaves Spain: Alleged Corruption Overshadows His Reign And Threatens His Son Felipe’s

The King Emeritus of Spain—Juan Carlos I— is leaving the country to live in another, unspecified, country amid a financial scandal. Juan Carlos has communicated his decision to his son Felipe VI through a letter that was made official by the Royal House. In spite of Juan Carlos I ‘s alleged financial irregularities, all the Spanish media have acknowledge the historic importance of the 82-year-old former king.

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Spain has highest proportion of contracts of 6 months or less

Spanish Unemployment Drops For The First Time Since February: 89,849 People Find A Job In July

The labour market figures in July are very good thanks to the reopening of services and the return of tourism to Spain. Unemployment fell by 89,849 people, the first drop since February.The number of people still affected by temporary layoffs schemes (ERTEs) is now just over one million and the Social Security affiliation average membership is still rising. However, only 17% of the jobs destroyed have been recovered.

EU Green Deal: Bold headlines, elusive impact

A Green Biased Recovery Fund

Morgan Stanley | The European Recovery Fund will not only benefit peripheral countries but also sustainable activities. In the end, this package will have an even greater green bias than initially expected: 30% of the funds will go towards climate investment compared to 25% in the initial proposal.

Spain confronts Brexit: The moment of truth for Spanish companies in the UK

IAG Needs To Strengthen Its Capital Despite Its €10Bn Of Liquidity

As reported in its Q1’20 financial results on May 7, IAG had a solid balance sheet and liquidity position prior to the health crisis. It had cash and undrawn credit lines amounting to 10 billion euros as of April 30. So the board’s announcement that it will carry out a 2.75 billion euros capital hike to strengthen its balance sheet (61% market capitalisation) was surprising.

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ECB Tests Found That Eurozone Banks Are Able To Withstand The Stress Caused By The Pandemic

Santander Corporate & Investment | The ECB published on Tuesday the aggregate results of its vulnerability analysis of the 86 banks directly supervised under the Single Supervisory Mechanism. This shows that “the euro area banking sector can withstand the stress induced by the pandemic but, if the situation worsens, the decline in bank capital would be significant. Furthermore, the ECB has extended its recommendation that banks should not distribute dividends until 2021.

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