Tag Archives: Spain

Spain’s GDP Grew Less Than Expected

    MADRID – According to revised figures released last Monday, the Spanish economy failed to meet the expectations that were set in 2010 and 2011. This suggests that the country may have more difficulty getting out of threatening recession. Amid the second recession in the Spanish economy, the statistics Read On..

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Spain Negotiates with Brussels for Bank Shareholders

  MADRID – The Spanish government is negotiating with Brussels to limit losses to holders of preference shares under the 100 million-bailout approved for the Spanish financial sector, said the Financial Times on Wednesday, citing sources with first-hand knowledge of the conversations. According to the British newspaper, the Spanish government Read On..

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Germany Rules Out Total Bail Out for Spain

MEXICO CITY – The Foreign Minister of Germany, Guido Westerwelle, ruled out the possibility that Spain will require financial support from European Union’s bailout funds and said it is a strong country with a strong economy. Westerwelle said on Sunday that “the Spanish government of Mariano Rajoy has shown great Read On..

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EU Will Give Spain More Time for Deficit Reforms

  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 Read On..

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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. This is in-line with the predictions made by investors that very little should be expected this week as the European summit is set to begin Read On..

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Moody’s Downgrades Credit Rating of Spain

NEW YORK – Moody’s Investors Service downgraded Spain’s credit rating by three notches on Wednesday, to “Baa3” from “A3,” saying that the recently approved plan to help the country’s banks will increase the burden on their debt.   Moody’s said it may downgrade the Spanish note further based on the Read On..

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