MADRID (Reuters) – Voters in southern Spain dealt a blow to Prime Minister Mariano Rajoy’s hopes of winning a second term this year on the strength of the country’s economic recovery, abandoning his center-right Popular Party for upstarts and the opposition Socialists.
One of the countries worst-hit by Europe’s economic crisis, Spain is now one of the continent’s fastest growing economies, but unemployment remains high and most Spaniards are still a long way from recovering pre-crisis living standards.
ALMERIA, Spain (Reuters) – An election on Sunday in Spain’s Andalusia region, where one in three people are out of work, is an early test of how deeply the anti-austerity sentiment that brought Syriza to power in Greece has taken root across Europe’s southern rim.
Andalusia is the first of three local votes leading up to a year-end national election that will measure sentiment in a country often hailed as a model of European economic recovery at the hands of German-inspired spending cuts and reforms.
MADRID, March 16 (Reuters) – Andorran authorities have given
government-appointed managers at Banca Privada d’Andorra (BPA)
the authority to stop fund withdrawals as the lender battles
U.S. allegations it laundered money for international criminal
The mountainous principality between France and Spain is
heavily reliant on financial services and the scandal at BPA,
one of its largest banks, threatens the national finances.
MADRID (Reuters) – Europe must stop its austerity policies or watch far-right movements continue to grow and pose a real danger to democracy, said Pablo Iglesias, leader of Spain’s Podemos party that like Greece’s Syriza aims to offer a leftist alternative.
In an interview with Reuters, the 36-year-old whose Podemos (‘We Can’) party is leading some election polls, also said any coalition between Spain’s centre-right and centre-left would only prolong what he called the country’s economic disaster.
MADRID, Feb 27 (Reuters) – Spain’s Bankia will
find out on Friday how much it will have to pay of a maximum 780
million euros ($874 million) in compensation costs for investors
who bought into its share listing, a source familiar with the
The lender, once a symbol of Spain’s financial crisis, is
hoping to remove any uncertainty over the final bill it will
have to shoulder ahead of its results presentation on Saturday,
the source also said.
MADRID, Feb 26 (Reuters) – State-controlled lender Bankia
is to publish its annual results on Saturday, even
though the Spanish authorities have yet to decide how much the
bank should pay to compensate investors in its stock market
listing in 2011.
Hundreds of thousands of small investors, who bought shares
in the sale, lost money when Bankia had to ask for a 22.5
billion euro ($25.25 billion) rescue a year after the initial
MADRID, Feb 26 (Reuters) – Spanish oil group Repsol
said its 2014 adjusted clean net profit jumped 27 percent thanks
to refining margins that more than offset the fall in revenue in
its production business due to plummeting world oil prices.
Unlike other European competitors which are cutting back on
spending and investments in the face of lower energy prices,
Repsol last year announced the acquisition of Talisman Energy
to grow its exploration and production arm.
MADRID, Feb 13 (Reuters) – Spain’s High Court on Friday gave
state-rescued Bankia and several former executives a
month to deposit 800 million euros ($911 million) against
potential liabilities related to the bank’s public listing.
The court order is the latest step in a case that has come
back in recent months to haunt the government-controlled lender,
once the symbol of Spain’s financial crisis, even as it returns
to profit following a costly bailout.