Spain

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Juncker: “Germany’s debts are higher than Spain’s, but nobody wants to hear this”

The Prime Minister of Luxembourg and chairman of the Eurogroup Jean Claude Juncker made stark remarks on the “disturbingly large amount of the German debt,” which the Bonn paper General Anzeiger published on Thursday. “‘Germany has a higher debt than Spain. But nobody here wants to acknowledge this,’ said Juncker, who expresses understanding regarding the fears of Germany caused by the current financial crisis. “‘Here (in Germany) they witnessed, twice,…




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The Guardian and NY Times wonder: “Where's Spain's Law of Transparency?”

From the Spanish newspaper El Mundo | During the last three years, the Spanish government has lashed out against the markets, the speculators, the rating agencies and even against the Anglo-Saxon press because of the ‘distorted image’ it believes they present of Spain and its economy. Spain’s financial minister and deputy president Elena Salgado, and the Secretary of State for the Economy José Manuel Campa have repeatedly had to travel…


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The Guardian and NY Times wonder: “Where’s Spain’s Law of Transparency?”

From the Spanish newspaper El Mundo | During the last three years, the Spanish government has lashed out against the markets, the speculators, the rating agencies and even against the Anglo-Saxon press because of the ‘distorted image’ it believes they present of Spain and its economy. Spain’s financial minister and deputy president Elena Salgado, and the Secretary of State for the Economy José Manuel Campa have repeatedly had to travel…


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Do Spanish banks need independent audit?

The International Monetary Fund is urging Spain to take a page from Ireland and use an independent auditor to evaluate its banks, saying that could boost confidence. Speaking to reporters during the annual meetings in Washington, Antonio Borges, IMF’s European department head, said this should be the right thing to do, since financial market fears of the situation in many European countries have become “excessive,” especially in regard to Italy…



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Spain is part of the hope

After one of the worst sell-off days in weeks and talking about the “European problem”, some brokers find in Spain reasons for hope: “I think there is some reason for optimism with respect of Europe. Spain is an example. They are taking the hard steps. They are going to have an election in November that will likely make the conservative candidate the new Prime Minister of Spain and they will…