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Spain has decided the only way to tackle its budget deficit is via extremely sharp expense cuts coupled with a more modest move to increase taxes. Prime Minister Mariano Rajoy says his government...
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Spain has decided the only way to tackle its budget deficit is via extremely sharp expense cuts coupled with a more modest move to increase taxes. Prime Minister Mariano Rajoy says his government...
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Getting bailout money from the Eurogroup is very difficult — until it suddenly is not. Because the body has become so concerned about the financial situation of Spain and its banks, the nation...
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The usual arrangement for the bailout of large banks in Europe has been for sovereigns to take on loans from eurozone funds and then use those funds to recapitalize their troubled financial firms....
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New Democracy’s Antonis Samaras’s party won the national elections in Greece. But it did not win a majority. His pro-austerity party will try to create a coalition now. The odds appear to in...
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The International Monetary Fund (IMF) has published its preliminary findings following its meetings with Spanish officials. The outcome is neither unexpected nor good news for Spain. First the IMF...
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Spain continues to suggest that it does not need a full bailout to survive financially. Its actions today say otherwise. According to The New York Times, Spain took a $125 billion aid package from...
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Gallup has released results of a poll about the attitude of the Chinese toward pollution. Experts have long believed that the People’s Republic cares little about clean water or air when those are...
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The continuing difficulty that Spain faces in persuading investors to buy the country’s sovereign debt got a little worse today. Treasury Minister Cristobal Montoro told a Spanish radio station...
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Annual meetings of Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) will include questions about fracking. (Reuters) Ford (NYSE: F) will begin to buy out some of its pension funds. (Reuters) JP Morgan...
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Gold for June delivery closed down 0.6% today, at $1,594.20/ounce on Comex, the lowest settlement price since December 30. Traders are reacting to two things: a strengthening U.S. dollar and an even...
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The yield on 10-year Spanish bonds rose above 6% this morning in reaction to the turmoil in Greece and fears that it would spread to Spain. The differential between Spanish bonds and German bunds...
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Spain’s central bank, the Bank of Spain, reported today that the country’s banks borrowed a net average of €227.6 billion ($300 billion) from the European Central Bank (ECB) in March. The...
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Bloomberg reports that Spain will increase its fight against tax fraud as it desperately tries to prove to global capital markets investors who have abandoned its bonds. This abandonment has cause...
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Politicians may not always tell the whole truth, but most of the time they’re in the neighborhood. Spain’s finance minister, Luis de Guindos, said this morning that the country will pick up in...
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