Category Archives: Finance

Minimum wage frozen for 2012

December 29th, 2011

The new government of Mariano Rajoy has decided to freeze the so-called minimum wage for 2012 at €641.40 per month, an unprecedented move in recent Spanish history.

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Eight Spanish banks ‘on review’

December 21st, 2011

The credit ratings agency Fitch has warned that eight Spanish banks are ‘on review’ for a possible reduction in their credit ratings, mainly due to the profound adverse effect the eurozone crisis is having on economic and financial stability.

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Rajoy addresses parliament

December 19th, 2011

In parliament today, Spain’s incoming Prime Minister, Mariano Rajoy, has promised deep public spending cuts while offering tax breaks for companies, telling parliament he aims to cut the budget deficit by 16.5bn euros next year. How he actually intends to … Continue reading →

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More downgrades on the horizon

December 17th, 2011

Spain and Italy have been warned to brace for a debt downgrade after a leading rating agency concluded that a ‘comprehensive solution to the eurozone crisis is technically and politically beyond reach’.

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Spain on the edge

November 17th, 2011

Spain’s borrowing costs have risen at its latest bond auction and on money borrowed today, payable in 10 years, Spain has to pay an interest rate of 6.975%, the highest since 1997. A high rate or yield indicates investors may … Continue reading →

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Is the euro set to continue weakening?

November 16th, 2011

Peter Lavelle at currency broker Pure FX 16.11.2011 The euro has weakened in the past week, as concerns that Italy cannot cut its huge debt prompt investors to flee to havens including the pound. Is this trend set to continue? 

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