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Mar 14, 2013

Spain rules out tougher provisioning rules for banks-official

MADRID, March 14 (Reuters) – Spain is ruling out asking its
banks to set aside more provisions to cover potential losses on
loans on top of writedowns enforced in 2012, a senior official
from the economy ministry said on Thursday.

“Absolutely not,” said the official, who spoke on condition
of anonymity, in response to a question on further provisions.

Mar 14, 2013

Spain’s Jazztel expects boost from fibre optic network

MADRID, March 14 (Reuters) – Spanish broadband provider
Jazztel said on Thursday it expected revenue to jump to
as much as 1.6 billion euros by 2017 from 909 million last year
through investment in a fibre optic network and a focus on
mobile telephone clients.

In a strategic plan it forecast a rise in net profit to
between 180 million and 220 million euros in five years from 62
million last year.

Mar 12, 2013

Spain unveils 3.5 bln euro plan to get young back to work

MADRID, March 12 (Reuters) – Spain pledged 3.5 billion euros
($4.6 billion) over four years on Tuesday to easing mass
unemployment among the country’s youth, as the government tries
to stem a relentless tide of layoffs and lengthening jobless
queues.

Prime Minister Mariano Rajoy presented 100 different
measures including tax breaks for young freelance workers and
for companies that hire workers in their twenties.

Feb 21, 2013

Swiss bank account adds twist to Spain corruption scandal

MADRID, Feb 21 (Reuters) – When Luis Barcenas, a former
treasurer of Spain’s ruling People’s Party now at the heart of a
growing corruption scandal, deposited 14 million euros in a new
account at his Swiss bank in 2005 the bank asked him to explain
how he came by the money.

Barcenas told Dresdner bank, since acquired by LGT bank, the
funds came from his involvement with eight Spanish and Argentine
companies and from real estate and fine art deals, according to
documents from the examining magistrate’s evidence file in a
Spanish High Court investigation seen by Reuters.

Feb 13, 2013

Guatemalan leader sees paradigm shift on drug policy

MADRID (Reuters) – Guatemalan President Otto Perez said on Wednesday he is feeling less alone in his drive to re-think the fight against drug-trafficking than a year ago, when he shocked fellow Central American leaders with a proposal to decriminalise narcotics.

Guatemala, like its neighbour Mexico, is racked by violence from drug-trafficking cartels that ship South American cocaine to the United States. A Central American nation of 15 million people, Guatemala has one of the world’s highest murder rates.

Feb 5, 2013

In Spain, slow justice favors Rajoy

MADRID (Reuters) – The tortuous procedures of the Spanish court system and a weak political opposition mean corruption allegations are unlikely to force Prime Minister Mariano Rajoy from office.

Uproar in the media and some street protests have helped raise doubts among investors on the government’s future, pushing its borrowing costs back up at a time when its priority has been to save money and pay off debts to stave off insolvency.

Feb 2, 2013

Spain’s Rajoy denies wrongdoing in kickbacks scandal

MADRID, Feb 2 (Reuters) – Spanish Prime Minister Mariano
Rajoy on Saturday strongly denied wrongdoing in a growing
corruption scandal that threatens to erode his credibility just
as he is making headway against a deep economic crisis.

The ruling People’s Party (PP) has been buffeted all week by
media reports alleging that its former treasurers operated a
slush fund with donations from construction industry executives
that were then doled out to Rajoy and other party leaders.

Feb 1, 2013

Spain corruption scandal turns up heat on PM Rajoy

MADRID (Reuters) – Spain’s ruling People’s Party denied on Thursday that Prime Minister Mariano Rajoy and other leaders received payments from a slush fund after a newspaper published what it said were secret party accounts.

El Pais published images of excerpts of almost two decades of handwritten accounts that it said were maintained by People’s Party treasurers. The newspaper said the accounts showed 11 years of payments to Rajoy of 25,200 euros a year.

Jan 31, 2013

Spain’s Rajoy, ruling party deny secret payment scheme

MADRID (Reuters) – Prime Minister Mariano Rajoy and Spain’s ruling People’s Party denied on Thursday that the party made unofficial payments from business donors to the premier and other party leaders after a newspaper published what it said were secret party accounts.

El Pais published images of excerpts of almost two decades of handwritten accounts that it said were maintained by People’s Party treasurers. El Pais said the accounts showed 11 years of payments to Rajoy of 25,200 euros ($34,200) a year.

Jan 28, 2013

Spain’s Rajoy adds some stimulus to the austerity

MADRID (Reuters) – Spain’s conservative prime minister is preparing a package of small measures – such as tax breaks for young entrepreneurs – to stimulate the economy even as he vows to stick to budget cuts.

Prime Minister Mariano Rajoy, whose popularity has plummeted after a year in the job, will announce the steps on February 20 in his first State of the Union address in an effort win back public trust after severe spending cuts.

    • About Fiona

      "Fiona Ortiz is Reuters' chief correspondent for Spain. She has also lived and worked as a journalist in Argentina, Chile, Mexico, Costa Rica, Guatemala and Portland, Oregon."
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