Month: August 2012

Spain creates 120 billion euro bad bank to absorb toxic assets

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Spain is to create a “bad bank” to absorb the “toxic assets” of financial entities in Spain, with an expected eventual capitalisation of around 120 billion euros. The idea is to setup a nationalised entity which will take the bad loans and empty houses off the books of the Spanish banks, allowing these banks to free up resources and improve their balance books. The million odd homes estimated to be owned by Spanish banks will Continue reading Spain creates 120 billion euro bad bank to absorb toxic assets→

Andalucia admits its planning to ask for a bailout as banks refuse to lend it money

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Andalucia has confirmed it is studying a request to Madrid for bailout cash as the region continues to have trouble issuing debt in the financial markets. President Griñán said that although Andalucia has permission from Madrid and the EU to issue more debt, it is experiencing problems at the moment of finding anyone to actually buy that debt. Well, quite. Madrid earlier this year setup an emergency cash fund to bailout regions that were expecting Continue reading Andalucia admits its planning to ask for a bailout as banks refuse to lend it money→

Man who looted empty Bedar fire houses caught

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Police have arrested a 19 year old Bedar man, J. G. H., on charges of looting two houses whose owners were evacuated from Bedar during the fires. J.G.H. took the opportunity to return to Bedar whilst the evacuation was in force and broke into the two homes in order to plunder them, taking cash, valuables, jewelery, and computer equipment. However, a police officer who had spotted J.G.H. roaming around during the evacuation put two and Continue reading Man who looted empty Bedar fire houses caught→

Police arrest Bedar arsonist

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A warrent has been issued by the Guardia Civil for the person who set Bedar on fire last Saturday. Police have refused to identify the suspect but say that patrols are actively looking for the person and they expect an arrest later today, although Europa Press breaking news has said that the person has now been arrested and charged. The person has been reported to be a A.F. (69), who set fire to the hills Continue reading Police arrest Bedar arsonist→

Catalonia demands a “no strings attached” bailout

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Catalonia has asked Madrid for a bailout of just over 5 billion euros to help pay the bills until the end of the year. A spokesman for the generalitat, run by the fiercely pro-independent regional government of Artur Mas, said that Catalonia will not accept any political orders along with the money, “as this is our money which is simply being managed by the Spanish state, and we want it back to run our own Continue reading Catalonia demands a “no strings attached” bailout→

Junta promises reforestation aid to Bedar

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The final figures released on the Bedar fire say that 374 ha of land, mainly scrub and pines, were burnt by the weekend forest fire. A great deal of the land was included within the special conservation area (LIC) of the Sierra Bedar. A number of houses – the exact number has not been released- were damaged, mainly isolated villas and cortijos around the Serena / Los Pinos area. A search of facebook will bring Continue reading Junta promises reforestation aid to Bedar→

Bedar fires – arrests imminent?

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A source with knowledge in the local fire dept told me earlier that investigators don’t believe a lit cig set the place on fire, but instead think it’s possible that a power tool being used inappropriately set the place afire. An axle grinder or tile cutter is suspected. Although this is not official… just what the firemen are chatting about. Now, I’m also told that at this very moment several Guardia Civil cars, accompanied by Continue reading Bedar fires – arrests imminent?→

Amnesty International: Spain turns blind eye to police torturing suspects

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Ah hem. Amnesty International reckons Spain is turning a blind eye to complaints about police torturing or mistreating suspects, and has failed Spain in it’s latest annual report. The report says that Spain “must do more” to investigate such complaints and says that the nation appears to have a serious structural defect in investigating such matters. It points to such evidence as the European Court of Human Rights which recently slammed Spain for not protecting Continue reading Amnesty International: Spain turns blind eye to police torturing suspects→

Bodies of missing Cordoba children Ruth & Jose found – police admit “massive cockup” after mothers family find the remains

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The remains of Ruth (6) and Jose (2), the two small children from Cordoba who went missing 11 months ago and whose fate have since gripped Spain, have been found. Their father, who has been in jail since they went missing accused of abducting the children, will now be charged with their murder. The remains were identified after the Mother of the children paid for an independent laboratory analysis of bones found in a huge Continue reading Bodies of missing Cordoba children Ruth & Jose found – police admit “massive cockup” after mothers family find the remains→

Bedar reopened

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Bedar has been reopened amongst many votes of thanks from all residents and authorities to the brave firefighters who worked so hard to prevent a greater disaster. Here’s a video from national TVE1:   1.000 evacuados desde anoche por el incendio de Bedar, AlmeríaVer vídeo The fire has now been declared fully controlled, although firefighters continue to make safe the zone. Only two injuries have been reported, both firefighters suffering from smoke inhalation who were Continue reading Bedar reopened→