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Market chatter: Spain gloomy jobless rate, Santander 1Q results and much more

MADRID | By Jaime Santisteban | Spain’s unemployment rate climbed to nearly 26 per cent in 1Q, official data showed Tuesday, despite the positive growth figures the government is proudly showing. Markets are weighing the effects of those numbers on the country’s sluggish recovery, the same day Spanish bank Santander announced an 8% profit increase in 1Q. Spain only accounts for 14% of the entity’s profits, while the UK is already 20%. 

SPECIAL REPORT: Are minijobs a solution for Europe?

BERLIN | By Alberto Lozano | Europeans never stop listening to ideas for economic reforms. One potentially successful option, with support from Europe’s leading institutions for smaller economies, is the ¨minijob¨.

But are these atypical jobs the solution to move Spain’s 26 percent unemployment rate closer to Germany’s 5 percent?

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Lights and shades of Rajoy’s two years as Spain’s president

MADRID | By Julia Pastor | Two years, a €100 billion banking bailout, and a comprehensive package of structural reforms later, Spain’s president, Mariano Rajoy, celebrated on Wednesday his 2011 electoral victory. These years’ balance is some sort of bittersweet taste. The country’s external perception has improved, but unemployment and public debt numbers are still a heavy burden.

The Cliché of Working Longer Hours in Spain

MADRID | By Fernando G Urbaneja | Jeroen Dijsselbloem is happy because Spain is doing its homework, but he warns that there is still a lot to do. “Working harder and longer” is his motto, although he doesn’t seem to know how eager the Spanish unemployed are to find a job. And extending the age of retirement doesn’t look like the best option.

The outrageous salaries of Eurocrats

MADRID | By José Hervás | European commissioners and top officials can receive up to 70% of their salary when they retire, which in most cases translate into more than €10,000 per month.

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It’s time to rethink both Keynes and Hayek… and fix unemployment

MADRID | By Carlos Díaz Güell | The Western world’s unemployment has reached brutal dimensions. There are more than 200 million jobless people around the world, representing 5.9 per cent of the labour force on the planet, according to the International Labour Organisation. Perhaps it is time to retire or rethink Keynes and also–why not?–Hayek and seek new formulas that will lead us out of the tunnel.

China, a new maturity stage

Keep in mind a new concept: Lionomics. An acronym that gives name to the ambitious process of economic reform the new Chinese Prime Minister Li Keqiang must bring forward.