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| 02/06/2012 07:03 AM |
| World Bank: ‘The measures taken in Europe only buy time’ |
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In his speech at the Herzliya Conference held in Israel last week, the President of the World Bank, Robert B. Zoellick, warned that “the measures adopted in Europe for now only buy time. We are facing one of the key moments in the future of European construction”. Zoellick addressed the economic crisis gripping the World [...]
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| 02/06/2012 07:03 AM |
| Foreign Tourists Spent Almost 8% More Last Year |
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International tourists who visited Spain in 2011 spent 52,796 million euros, representing a 7.9% increase, according to figures from the Tourism Expenditure Survey (Egatur) prepared by the Ministry of Industry, Energy and Tourism published on Monday. The average expenditure per tourist stood at 934 euros in 2011, 0.2% higher than the same period in 2010, [...]
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| 02/06/2012 07:03 AM |
| Families Spent More on Housing in 2011 |
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In 2011, families dedicated 29.1% of their gross income, counting deductions, on housing, which is almost two percentage points more than a year earlier, when this figure stood at 27.3%, according to data from the Bank of Spain. This increase is striking since, according to the Ministry of Development, during the past year the average [...]
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| 02/06/2012 07:03 AM |
| Brussels to Send Employment Experts to Spain in February |
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The European Commission President, Jose Manuel Durao Barroso, sent the Spanish Government a letter yesterday announcing his intention to send EU employment experts to Spain in February in order to help fight youth unemployment. The initiative will also take in the other seven Member States whose youth unemployment rates exceed 30%: Greece, Portugal, Ireland, Italy, [...]
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| 02/06/2012 07:03 AM |
| Spanair Closure Sees Vueling Stocks Soar |
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The Spanish Stock Exchange believes that Vueling, the low cost airline owned by Iberia, will be one of the companies to benefit most from the closure of Spanair, after seeing them lead the markets with their stocks rising by over 20%. Spanair had a market share in Barcelona, where they had their headquarters, of around [...]
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| 02/06/2012 07:03 AM |
| EP Approves New Directive on Granting of Mortgages |
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The Internal Market Commission of the European Parliament gave the go ahead on Thursday, to a draft directive that prohibits the granting of mortgages to consumers who do not have the capacity to repay the credit. The directive “on credit agreements for residential property” requires lenders to refuse loans which do not have payment guarantees, [...]
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| 02/06/2012 07:03 AM |
| The IMF Forecasts Spain’s Deficit at 6.8% this Year |
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According to the Institution’s updated ‘Fiscal Monitor’ report, the International Monetary Fund (IMF) has drastically worsened its deficit forecast for Spain in 2012 and 2013 to 6.8% and 6.3% respectively, figures which double the 3% deficit target the Spanish economy must achieve in the next year. The organisation, chaired by Christine Lagarde, revised its forecasts [...]
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| 02/06/2012 07:03 AM |
| How the Debt Crisis Has Affected Spanish Business |
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According to Social Security data, since 2008, the economic crisis has put 177,336 companies out of business in Spain, most of them small- and medium-sized enterprises, and especially in Murcia and Valencia, due to their dependence on the construction sector, while larger enterprises have demonstrated their ability to survive. This data is referred to in [...]
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| 02/06/2012 07:03 AM |
| Mortgages Fall Again in 19 Months of Declines |
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The number of mortgages on homes fell 35.8% in November over the same month of 2010, reaching 28,113, one of the lowest figures of the series which started in 2003, the National Statistics Institute announced yesterday. With this year-on-year decline, mortgaged homes accumulated 19 months of declines. The drop, however, is less pronounced in November [...]
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| 02/06/2012 07:03 AM |
| Self-Employed Foreigners Increased by 4.8% in 2011 |
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The number of self-employed foreigners in Spain grew 4.8% in 2011, reaching 208,512, which is 9,580 more than a year ago, according to a study released yesterday by the National Federation of Independent Workers Associations (ATA). The report, which was drawn up from Social Security data, also shows that in 2011 the percentage of foreigners [...]
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