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Fun! So that’s where 762.000€ of Andalucian cash went this year – urban planning in some godforsaken town in Africa. (How about spending some of that regulating the illegal homes in Albox? No? Thought not). Meanwhile, the Junta continues to ask Madrid for a billion euros to “tide it over” until it can ask for a full bailout… https://twitter.com/DMunozSanchez/status/244847918291492864
Andalucia has asked Madrid for a billion euros “to tide it over” until the Junta can finish the request for a full scale bailout from the Fondo de Liquidez Autonómico (FLA). The scrabble for free cash has started… The Junta says that it needs the billion to “short term liquidity problems” and admits it is preparing a request for what it calls “a full financial aid package”, but denies it is asking for a full Continue reading Andalucia asks for a billion to tide it over… until it can prepare the paperwork for a full bailout
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
Reuters, the news agency, has claimed that Spain has secretly asked Germany to prepare a 300 billion euros bailout package to rescue the state after a number of regions within Spain have claimed bankruptcy and asked for bailouts. Citing a “senior government official”, the news agency said that: Spain has for the first time conceded it might need a full EU/IMF bailout worth 300 billion euros ($366 billion) if its borrowing costs remain unsustainably high, Continue reading Spain asking for a “total emergency bailout” of 300 billion euros from Germany, according to Reuters
Spain is to get up to 100bn euros ($125bn; £80bn) in loans from eurozone funds to try to help shore up its struggling banks. The move was agreed at an emergency meeting of eurozone finance ministers after a conference call on Saturday. Make no mistake – this is a rescue of the Spanish state, but in a roundabout way to reassure the common investor. The State can’t afford to bail out its banks, and so Continue reading Spain get 100 billions euros in rescue package
Spain is poised to make a request over the weekend for a financial package to prop up its troubled banks, it was reported today. The request would follow a conference call of eurozone finance ministers tomorrow, Reuters reported, citing two senior EU officials and one German source. A Eurogroup statement would also be released. “The announcement is expected for Saturday afternoon,” one of the EU officials said. A Spanish government official said: “We are not Continue reading Spain will ask for bailout this weekend suggests reports
Britain was last night planning for the collapse of the eurozone as Spain weighed up a bailout that could cost UK taxpayers £5billion. The Government is preparing for the biggest mass default in history and the break-up of the single currency bloc. Analysts warned that euro meltdown would wreak havoc in the banking system and plunge the global economy back into recession. Whitehall sources said contingency plans are being drawn up – and indicated that Continue reading Now UK faces a £5bn bill to bail out Spain… as ministers plan for euro collapse | Mail Online
Spain’s People’s Party (PP), due to form a new government by mid-December, is considering applying for international aid as one option for shoring up its finances, sources close to the party say. The PP inherits an economy on the verge of recession, a tough 2012 public deficit target, financing costs driven to near unsustainable levels by nervous debt markets and a battered bank sector with billions of euros of troubled assets on its books. But Continue reading EXCLUSIVE-Spain’s incoming govt may seek outside aid -sources
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
Several euro-zone countries are under “systemic debt attack” but Spain isn’t in danger of needing a European bailout, the country’s Finance Minister Elena Salgado said Thursday. Speaking in a radio interview, Salgado said Spain’s sustainability isn’t in question, despite a recent increase in borrowing costs. She also said market conditions would have improved if the latest upgrades to the European Financial Stability Facility had been implemented. http://online.wsj.com/article/BT-CO-20111117-708557.html Posted from WordPress for Android – mobile blogging!