MADRID, March 26 (Reuters) – Every Tuesday evening dozens of
homeowners who cannot pay their mortgages gather in a cramped
community center near Madrid’s main bullring to discuss strategy
to fight their banks.
Newcomers, many of them immigrants from South America, take
turns speaking about how close they are to eviction. They tell
of losing their jobs, defaulting on their loans and receiving
court notice saying they will be kicked out.
MADRID, March 12 (Reuters) – Spain’s new centre-right
government will embark on its most sensitive austerity measures
to date — health and education spending cuts in the
country’s autonomous regions — as soon as it clears a
local election hurdle at the end of March.
Cuts in social services are likely to set off street
protests as Spain struggles to save at least 30 billion euros
this year to meet tough European deficit reduction goals while
the economy shrinks and almost one in four are out of work.
MADRID, Feb 3 (Reuters) – The Spanish government has
placed limits on executive pay at banks that received state aid
after a series of scandals over fat payouts for bankers who
loaded dodgy property debt onto lenders that then needed bailing
The cap was set at 600,000 euros ($790,000) per year for
executive salaries at banks rescued by public funds, and
incentive pay was suspended, Economy Minister Luis de Guindos, a
former Lehman Brothers executive, said on Friday.
MADRID, Dec 21 (Reuters) – New Spanish Prime Minister
Mariano Rajoy named on Wednesday a cabinet of mostly close
advisers charged with reviving the sluggish economy while
slashing spending to reassure investors the euro zone’s No. 4
economy can stay solvent.
Luis de Guindos, a former Lehman Brothers executive and
economy under-secretary, will head the economy ministry, which
was divided in two as Rajoy named his close adviser Cristobal
Montoro as treasury minister.
MADRID (Reuters) – Standard & Poor’s cut the credit ratings of 10 Spanish banks on Thursday and said they remained on watch for a possible further cut subject to a review of Spain’s sovereign rating.
The banks include Bankia (BKIA.MC: Quote, Profile, Research, Stock Buzz) and its holding company, CaixabankMC> and its holding company, Ibercaja, Bankinter (BKT.MC: Quote, Profile, Research, Stock Buzz), Sabadell (SABE.MC: Quote, Profile, Research, Stock Buzz) and Popular (POP.MC: Quote, Profile, Research, Stock Buzz).
MADRID (Reuters) – If you say “it’s raining,” to a Galician, he will respond “is it?”
That’s the stereotype of the reserved, impenetrable character of people from the damp region of Galicia at the northwest tip of Spain.
BRUSSELS/MADRID, Nov 22 (Reuters) – The euro zone’s
debt crisis swept closer to the heart of Europe despite a
clear-cut election victory in Spain for conservatives committed
to austerity, adding to pressure on the European Central Bank to
act more decisively.
Spain’s Socialists became the fifth government in the
17-nation currency area to be toppled by the sovereign debt
crisis this year. Portugal, Ireland, Italy and Greece went
before, while Slovakia’s cabinet lost a confidence vote last
month and faces a general election in March.
MADRID, Nov 21 (Reuters) – Spain’s next prime
minister, Mariano Rajoy, kept his silence on Monday on his plans
to rescue the country from economic disaster despite pressure
from anxious Spaniards and impatient investors following his
The landslide victory of his conservative People’s
Party’s at the polls on Sunday failed to lift markets, who fear
Spain could go the way of other euro zone members in having to
resort to an international bail-out.
BRUSSELS/MADRID (Reuters) – The euro zone’s debt crisis struck again at the heart of Europe on Monday despite a clear-cut election victory in Spain for conservatives committed to tougher austerity.
Spain’s Socialists became the fifth government in the 17-nation single currency area to be toppled by the debt crisis this year. Portugal, Ireland, Italy and Greece went before.
MADRID/ATHENS (Reuters) – Spain’s newly-elected leadership must act fast to shore up investor confidence, analysts say, after the Socialist government became the fifth in the euro zone to be toppled by the debt crisis.
In Greece, whose financial woes touched off the market nervousness now felt around the world, more political wrangling cast a pall over the new technocrat prime minister’s bid to win the nod from European leaders on Monday for bailout funds.