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…
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…
MADRID | According to the Spanish daily newspaper Expansión, the A400M (the largest European military airplane) made by Airbus Military is waging a double war. In the first place, it must comply with the new deadlines that were established after the programme was restructured last year. In second place, it must sell 400 planes in order to amortise the three year test flight delay that the prototype suffered and that cost €8…
MADRID | The Spanish press on Wednesday published reports of the newly elected Spanish President Mariano Rajoy’s trip to Marseille, where he will meet with US Secretary of the Treasury Timothy Geithner and then, later on, jointly with French president Nicolas Sarkozy and German Chancellor Angela Merkel. Rajoy will also have the opportunity to meet with the president of the European Commission Jose Manuel Durao Barroso, and with the Polish…
By Julia Pastor, in Madrid | One year ago, the European Union approved a four-year extension from 2014 to 2018 for the loss-making coal mining sector subsidies, which affected some Spanish working mines. Even though the Spain’s Secretary of State for the EU Diego López Garrido considered then “ it was good news for the whole of the Spanish mining industry, especially for coal mining,” the truth is that the…
MADRID | The Spanish press today echoes Repsol’s move, which has started sounding out investors to carry out a debt issuance after the relief brought by the drop to below the 350 b.p. in the Spanish risk premium. “BBVA was the last Spanish firm that issued debt on the wholesale market. On October 28, the second major Spanish bank placed €750 million in senior debt at 18 months at a price…
With a public deficit of €12.87 billion, 1.19% of GDP in the third quarter, the regional governments in Spain would have recorded a small surplus of €192.72 million, according to what the finance vice president Elena Salgado said on Tuesday. More details were reported by the Spanish press. “… The Spanish regions are on the path of deficit reduction,” said Elena Salgado, finance vice president. Her forecast for the full year…
Rumours of a super-toxic bank have been building up in Spain ever since the conservative People’s Party won the country’s general election by landslide. According to last weekend’s Bloomberg reports, “Spanish Prime Minister-elect Mariano Rajoy has asked for at least two papers from academics on how to create a so-called bad bank, according to two people with knowledge of the matter. “Both proposals outline mechanisms for a state-backed agency to buy soured assets…