Posts tagged "Spain"
Spain Grew Less Than Expected
MADRID – The Spanish economy has fared worse than originally estimated in 2010 and 2011, according to revised figures released Monday that suggest the country may have more difficulty getting out of a recession that threatens to force him to ask ransom. Amid the second recession in the Spanish economy in three years,...
Spain Negotiated by Bank Shareholders
MADRID – The Spanish government is negotiating with Brussels to limit losses to holders of preference shares under the rescue of 100.000 million approved for the Spanish financial sector, said Wednesday by the Financial Times, citing people familiar with these conversations. According to the British newspaper, the Spanish government wants to return the...
Germany Rules Out Total Surrender to Spain
MEXICO CITY – The Foreign Minister of Germany, Guido Westerwelle ruled that Spain will require financial support from the European bailout funds and said it is a strong country with a strong economy. Westerwelle said that “the Spanish government of Mariano Rajoy has shown great determination to implement the reforms and therefore is optimistic...
EU Will Give More Time to Spain for Deficit
BRUSSELS – Finance ministers of the European Union (EU) will give Spain until 2014, to reach its deficit target of 3% of GDP, three EU diplomats said Monday, before a meeting of ministers on Tuesday, which they will make the decision. “The objectives of fiscal consolidation in Spain will be adjusted to give an...
Wall Street Starts Week with Losses
NEW YORK – U.S. stocks fell sharply on Monday, leaving the S & P 500 just above the breakeven point so far this month, as investors saw little reason for optimism on the eve of the summit European Union this week. The markets remained sensitive to news from Europe since the tailspin of debt...
Moody’s Cut the Rating of Spain
NEW YORK – Moody’s Investors Service downgraded Spain’s credit rating three notches on Wednesday, to “Baa3″ from “A3,” saying that the recently approved plan to help the country’s banks will increase the burden of their debt. Moody’s said it may cut Spanish note further. They also cited the “very limited” access to the Government of...
Eurozone Shares Close Higher
PARIS – Shares of the euro zone climbed on Monday because the expectation of further measures by the authorities to help the troubled banking system in the region, soared in security purchases of Spanish, French and Italians, who eclipsed the decline in the German DAX. The German index with strong ties to industry had...
