Spain is placing its bets on education
Spanish economy
De Guindos confirms that Spain will start the year in recession
MADRID | All the Spanish press reported the new Minister of Economy, Luis de Guindos’ statements when he confirmed on Tuesday what everyone already knew: that Spain would go into recession in 2012. According to his predictions, the first trimester of 2012 will register a negative growth, just like the last trimester of this year in which the GDP will decrease by between 0.2% and 0.3%. During the inauguration of…
De Guindos: “Companies need make salary adjustments to avoid massive firings”
Rajoy’s cabinet
MADRID | The new Spanish president Mariano Rajoy has announced the names of the 13 ministers who will make up his cabinet, the smallest in the history of democracy. The new government will have just one vice-presidency (the former Economy minister was also vice-president) that will be held by Soraya Sáenz de Santamaría, a 40-year old politician and the person known for being highly trusted by president Rajoy. Sáenz de…
Spain liberalises online gambling sector
In May, the Spanish government passed a law that will transform and liberalise most sectors of the country’s online gambling market starting at the beginning of 2012. For most of the global market (over 90% of the experts surveyed) the future relevance of the Spanish online gambling market is high. Therefore it comes as no surprise that nearly all operators (ca. 80% of the operators surveyed) are likely to apply for…
Demand exceeds Spain’s bond sale
MADRID | The Spanish Treasury once again took advantage of the moderation of the interest rates and the high demand to place €5,639.92 million in bonds, more than expected, with the intention of preventing a more complicated situation in 2012, according to Bank of Spain data. The Treasury’s expectations were exceeded for the third consecutive time in December since it was hoping to obtain between €3,500 and €4,500 million. More…
Spain has new president
By Julia Pastor, in Madrid | Update Mariano Rajoy, elected by an overall majority on November 20, made his investiture speech on Monday. The investiture debate in the Spanish parliament has been held on Tuesday, and after its closing in the afternoon, Mr Rajoy has been officially sworn in as the new Spain’s president. The announce of austerity measures raised yesterday great expectations, since from the election day and in spite of the…
Spain’s Treasury ends year with successful bond sales
A two-edged tale for Spanish corporations: they flee home, but succeed abroad
Spain sells more bonds than expected, paying 1% less
MADRID | The Spanish investment website Consenso del Mercado reported about the Spanish Treasury’s positive results in placing its bonds on Tuesday. Spain’s public Treasury sold over €4.941 billion in bonds at 12 and 18 months, more than expectations marked, at considerably lower rates than in previous auctions. This means that Spain has passed the first market test after the agreements that were reached last week in Brussels. With this sale, the…