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#Spanish economy

# spanish-economy - Tuesday 2 April, 2013

Spain 'will ask for an extra year to meet EU's budget targets'

A source tells AFP that Spain will ask for the same concession that was given to Ireland – an extra year to meet deadlines.

# spanish-economy - Sunday 25 November, 2012

Catalonia votes in poll that could begin independence from Spain

…but Catalan voters could have to wait some time for full independence, with Madrid remaining opposed to the idea.

# spanish-economy - Sunday 21 October, 2012

Spain goes to polls in two crucial local elections

Elections are taking place in the Basque Country – the first since ETA renounced violence – and Mariano Rajoy’s home area of Galicia.

# spanish-economy - Friday 28 September, 2012

Spanish banks may need €60 billion in taxpayer bailout

An independent audit of the banking sector says seven of Spain’s 14 banks will need financial support.

# spanish-economy - Thursday 27 September, 2012

Spain to announce Budget - with €39bn of cuts on the table

Prime minister Mariano Rajoy will hope that the hard-hitting Budget will soften the terms of any prospective bailout.

# spanish-economy - Friday 14 September, 2012

ECB, IMF 'in talks over €300bn Spanish bailout' - report

A Dutch newspaper quotes an insider as saying informal talks for a full-blown sovereign bailout are underway.

# spanish-economy - Tuesday 4 September, 2012

Spain to add another €6 billion to bank bailout fund

The extra funds are being provided while ministers work on sorting out the formal bailout from European funding.

Spanish unemployment rises again to creep towards 25 per cent

Spain’s unemployment rate is the highest in the industrialised world.

# spanish-economy - Friday 27 July, 2012

Explainer: Why is Spain under so much financial pressure?

The cost of borrowing for Spain keeps getting higher – fuelling rumours of needing a full-on bailout.

Spain ‘discussed €300bn bailout with Germany’ – Reuters report

Reuters says a Spanish minister broached the idea on Tuesday. If they’re right, Ireland could be hit with a bill for €4.77 billion.

# spanish-economy - Wednesday 25 July, 2012

Greens tell Gilmore: 'You'll need to convince German allies on bank deal'

The Green Party points out that Labour’s sister party in Germany is opposed to letting banks borrow straight from the ESM.

# spanish-economy - Thursday 19 July, 2012

Huge protests erupt across Spain against €65bn austerity cuts

Workers have taken to the streets decrying “robbery”, on the eve of a teleconference to secure Spain’s €100bn bailout.

# spanish-economy - Thursday 28 June, 2012

Merkel blasts ‘fake solutions’ as EU leaders head to Brussels

The German chancellor says short-term measures to stop Spain and Italy from going under won’t cut it.

# spanish-economy - Tuesday 26 June, 2012

Spanish borrowing costs nearly triple in short-term auction

Spain issued some 3-month and 6-month bills this morning – but saw its rates rocket following its bailout request.

# spanish-economy - Tuesday 19 June, 2012

Spanish auction sees cost of short-term loans rocket... again

Spain sold off €3 billion in 12-month bills, but paid the price as investors continued to demand a high premium for their money.

# spanish-economy - Monday 18 June, 2012

Euro crisis: Spanish cost of borrowing hits 7pc as investors seek safety

The costs had fallen after Greece’s election, but are back up this morning as the fear of contagion remains…

# spanish-economy - Saturday 16 June, 2012

From The Daily Edge Crystal, cricket and Croatian boobs: the week in statistics Prime Numbers

Crystal, cricket and Croatian boobs: the week in statistics

Plus – the latest estimate of the average industrial wage, and how close Spain is being pushed to an international bailout…

# spanish-economy - Tuesday 12 June, 2012

Euro crisis: Spain's cost of borrowing rockets as Lagarde warns of 'race against time'

If you were lending cash to the Spanish government for 10 years, you’d get an annual interest rate of 6.76 per cent.

Rehn 'still hopes for Irish debt deal' - while Spain's bailout comes without budget rules

The commissioner says he still wants to assist Ireland – and confirms Spain’s banking bailout won’t bring new fiscal conditions.

# spanish-economy - Monday 11 June, 2012

German conditions on Spanish bank deal strike blow to Ireland's hopes

Germany ensured that Spain’s €100bn banking bailout would go through the government – meaning it counts towards national debt.

# spanish-economy - Friday 8 June, 2012

Brussels and Berlin: 'No news' on potential Spanish request for bailout

Both the European Commission and the German government say Spain has not made a formal application for EU funding.

# spanish-economy - Thursday 7 June, 2012

Spain sees borrowing costs rise, while France's hit euro-era lows

It’s a tale of two Europes as countries go to the bond markets this morning…

# spanish-economy - Wednesday 6 June, 2012

Spain: We're being frozen out of markets, and we need help now

The Spanish treasury minister says Spain “doesn’t have the market door open”, at a time it needs cash to help its banks.

# spanish-economy - Tuesday 5 June, 2012

French minister blames US for creating eurozone's debt crisis

France’s new foreign minister hits back at Barack Obama, saying: ‘Lehman Brothers was not a European bank.’

# spanish-economy - Monday 28 May, 2012

Spain sees cost of borrowing rise, as major bank seeks €19bn bailout

This all feels eerily familiar…

# spanish-economy - Tuesday 17 April, 2012

The Daily Fix: Tuesday

All the biggest news stories from the day, as well as the few bits and pieces you might not have seen.

# spanish-economy - Monday 16 April, 2012

The Daily Fix: Monday

All the biggest news stories from the day, as well as the few bits and pieces you might not have seen.

# spanish-economy - Wednesday 11 April, 2012

ECB may re-enter bond markets after Italian auction flops

Investors declined the opportunity to buy short-term Italian bills this morning, seeing interest rates double from last month.

# spanish-economy - Tuesday 13 March, 2012

# spanish-economy - Tuesday 21 February, 2012

ECB steers clear of bond-buying for first time since August

Last week marked the first time in six months that the European Central Bank didn’t intervene in the sovereign bond markets.

# spanish-economy - Tuesday 17 January, 2012

Spain raises nearly €5bn in successful short-term bond auction

Spain sees the interest rate for 12-month bonds fall significantly, while Belgium has mixed results in an auction of its own.

# spanish-economy - Tuesday 13 December, 2011

Belgium, Spain and bailout fund perform better in bond auctions

There’s little respite for Greece, though, which is asked to pay a higher yield on an experimental auction of short-term bonds.

# spanish-economy - Monday 21 November, 2011

Student study: Ireland could write off 85 per cent of its European debt

The pan-European ESCP business school says Ireland could get rid of €184bn in debts – by simply cancelling them out with others.

# spanish-economy - Thursday 17 November, 2011

Spain in the firing line as borrowing costs hit new highs

The price of borrowing for Spain is approaching the 7 per cent barrier, after both Spain and France struggled with bond auctions.

# spanish-economy - Tuesday 15 November, 2011

Italian borrowing costs spike again as coalition talks go on

The markets seem nervous about Mario Monti’s attempts to form a government – while a Spanish bond auction also goes badly.

# spanish-economy - Monday 12 September, 2011

ECB spent €14bn on Spanish and Italian bonds last week...

…and its input was virtually worthless, because prices today are pretty much exactly where they were seven days ago.

# spanish-economy - Saturday 10 September, 2011

ECB's chief economist quits over divisive bond-buying policy ECB

ECB's chief economist quits over divisive bond-buying policy

Jürgen Stark is stepping down three years early – apparently in protest at ECB policies not favoured by his native Germany.

# spanish-economy - Wednesday 7 September, 2011

Merkel welcomes ruling, but insists: 'We will never back Eurobonds'

Angela Merkel welcomes the Constitutional Court’s decision – but says it does not mean the emergence of a closer fiscal union.

Germany’s Constitutional court upholds participation in EU bailouts

Germany was not acting unconstitutionally in sanctioning a Greek bailout, the court says – though future bailouts need greater approval.

# spanish-economy - Tuesday 6 September, 2011

Markets take a nose dive as bond crisis returns with a bang

Christine Lagarde says there’s a “crisis of confidence”. No kidding: markets are slipping while borrowing costs are back on the up.

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