Day: November 22, 2011

Spain in race against time to avert bail-out – Telegraph

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Markets have dashed any lingering hopes of an investor honeymoon for Spain’s incoming leader Mariano Rajoy, sending the IBEX index in Madrid crashing through the 8,000 level and pushing borrowing costs to toxic levels. Yields on three-month Spanish notes jumped to 5.11pc at a sale on Tuesday, higher than rates paid by Greece last week. Mr Rajoy’s team is scrambling to find ways to shorten the paralysing hiatus until mid-December when the new government is Continue reading Spain in race against time to avert bail-out – Telegraph→

Spain’s Catalonia Considers Cutting Public Wages, Tax Increases- Bloomberg

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Catalonia, the wealthiest of Spain’s 17 semi-autonomous regions with an economy the size of Portugal’s, may cut public wages and raise taxes and tariffs in 2012 as it tries to meet the nation’s budget deficit target. Catalan President Artur Mas announced possible cost-cutting measures today before the presentation of the region’s 2012 budget in the coming weeks, according to a spokeswoman for the finance department, who declined to be named in line with the region’s Continue reading Spain’s Catalonia Considers Cutting Public Wages, Tax Increases- Bloomberg→

Greece, Spain Face New Debt Pressures | Europe | English

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Greece and Spain faced new pressure Tuesday from the European debt crisis. The European Union bluntly told the Athens government it would not receive its next $11 billion installment from last year’s bailout unless its fractious political leaders sign a written statement committing to new austerity measures to cut the country’s debt. Greece needs the money to avoid a default next month, but conservative leader Antonis Samaras says his verbal consent to the unpopular austerity Continue reading Greece, Spain Face New Debt Pressures | Europe | English→

Latest Changes to the Andalucian Planning Laws are another nail in the coffin

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From the AUAN: If you buy an illegal house in good faith, it’s your fault and you will be punished according to the latest amendments to the LOUA. AUAN, 21st November 2011 The regional government of Andalucía has announced that itis changing its planning laws (LOUA) in an attempt to revitalise the struggling real estate sector by easing the requirements for building in urban areas. However, according to sources in Abusos UrbanisticosAlmanzora NO (AUAN), an Continue reading Latest Changes to the Andalucian Planning Laws are another nail in the coffin→