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Spanish economy 12th July 2012

Time to slash regions’ spending in Spain

MADRID | The Spanish government has adamantly refused to accept any macro conditioning that might portrait it as falling under a full-fledged intervention. Markets hold a different view witnessing how recommendations advanced by the Brussels bureaucracy are taken to the line. VAT increase stands as the paramount example of an ill-judged proposal Spain is implementing under euro-pressure. Wasn’t the party now in power forcefully opposed to a similar measure not so…

Rajoy assumes the cost of the crisis

Spanish economy 11th July 2012

Spain’s president Rajoy makes a move: cutbacks and rise of taxes

how can i get my ex back By Tania Suárez, in Madrid | The president of the Spanish government Mariano Rajoy had a purpose this morning. He wanted to make a decisive move, not just a simple declaration of intentions. He wanted to get out of his hideout to take the reins of Spain. And he has done it. During a speech in a plenary session of the Congress this…

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Spanish economy 11th July 2012

Spain badly needs a banking overhaul

MADRID | The conditions imposed on Spain upon access to rescue funds for its ailing financial system, point to the need to undertake a major overhaul both in banking supervision and restructuring. The Eurogroup urges a handover to the Bank of Spain of powers hitherto retained by the ministry of Economy. It also forces breakup and/or severe downsizing of troubled banks, plus a resolution scheme to transfer part of the burden…

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Spanish economy 10th July 2012

Practical guide to know how and when Spain will implement the new adjustments

B. Toribio and R. Ugalde (lainformacion.com) | Fasten your seat-belts! This week we will see a new wave of cutbacks that will affect Spaniards'pockets. The president of the Spanish government Mariano Rajoy, and his team, have been warning the country for the last weeks, and here we explain how, when and why those measures will be carried out. Next Friday July 13 is the beginning of many more austerity announcements…

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Spanish economy 10th July 2012

Clueless Angela Merkel releases €30 billion for Spain’s banking bailout

how do i get back my ex girlfriend By Luis Arroyo, in Madrid | Changing the goal posts… Again, Brussels rectified. The euro finance ministers Ecofin made this morning the decision of not waiting until 2013 to release at least part of the capital aid package. A third of the total sum of €100 billion will be available in July. The connotations of this change of mind, though, go beyond…

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Spanish economy 6th July 2012

Spain’s interest payments on public debt are lower than in the 1990s

By CaixaBank research team, in Barcelona | Tensions in Europe’s sovereign debt markets have grown again, especially in the so-called peripheral economies. Increasing rumours regarding Greek’s possible exit from the euro area have played a significant part. In Spain, this escalation has been sharpened by further capital requirements for banks and the increasingly widespread doubts as to whether the fiscal deficit targets will be met, particularly after the upward revision…

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Spanish economy 5th July 2012

Catalan external balance goes foreign

The implications of recent developments in Catalonia's export activity are bound to agitate the political scene of the region more than its economic stand, which remains at a deficit of around €15 billion. According to the statistics institute of the autonomous government, the Generalitat, Catalan exports to non-Spanish markets in 2011 were higher for the first time than those to Spain: the regional department for the Economy said the international trade percentage…

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Spanish economy 4th July 2012

Barclays, Deutsche Bank play nasty in troubled Spain

By Tania Suárez, in Madrid | German and British banks are trying to woo the economic elite of the Spanish society, “la crème de la crème” of wealthy Spaniards. Or, in plain English: the ones with the big bucks. The uncertainty over the Spanish future is making the depositors nervous, and banks from the UK and Germany are trying to take advantage. According to this article of the online daily El Confidencial Digital, foreign…

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Spanish economy 2nd July 2012

University students in Spain to pay back scholarships depending on marks

MADRID | University students in Spain who fail more than half of the subjects they enrolled for will have to return the full amount of their awarded scholarship. A royal decree that sets the thresholds of income and family assets and the amounts of grants and financial support for the 2012-2013 academic year came into effect Monday after its approval by the Spanish cabinet. Before the changes, it was required that…