Archives for January 2012
January 31st, 2012
The rating agency Moody's anticipates a significant deterioration of credit due to the second wave of mergers in the Spanish financial system, a process that "will not be financed with public funds," although the Bank Restructuring Fund (FROB) remains in force. "The Government has clearly expressed its intention to limit public ...
Continue reading Moody’s Believe New Spanish Bank Mergers Will Affect Their Credit
January 30th, 2012
The number of unemployed in Spain has surpassed the 5 million mark for the first time, ending 2011 with 5,273,600 unemployed, according to the Labour Force Survey (EPA), released on Friday by the National Statistics Institute. The unemployment rate increased by 1.33 points to 22.85%, which is the highest it ...
Continue reading 2011 Closed with Highest Unemployed Rate Since 1994
January 27th, 2012
The world's largest social network is more than entertainment for its users. According to a report by Deloitte, Facebook generates 232,000 jobs in the European Union. The same study, which measures the employment and economic impact of Mark Zuckerberg's company, said that this accounts for 15,300 million euros of the ...
Continue reading Facebook Generates Jobs in Spain
January 26th, 2012
The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has called to "increase" but not "double" the European bailout fund, so that countries like Spain and Italy are not drawn into a liquidity crisis. At a conference in Berlin before the German Society for Foreign Policy, Lagarde said that ...
Continue reading IMF Calls for Increased Funding
January 25th, 2012
The invoicing for electricity is to go back to being bi-monthly. This was proposed by the Ministry of Industry, Energy and Tourism as a draft royal decree establishing that the billing of domestic electricity consumers should be based on actual meter readings, taken every two months. With this new law, El ...
Continue reading Electricity Bills to go back to Bi-monthly
January 24th, 2012
The main trade unions of the 16,000 Iberia ground staff, the CCOO and UGT, along with the TCP, the union of the 4,000 cabin crew, on Friday reached an agreement with the heads of Iberia to extend the guarantees of employment for both groups until 2014, with automatic extension until ...
Continue reading Iberia Flight Strikes Called Off
January 23rd, 2012
Before attending the G20 meeting to be held in Mexico over the weekend, Japan reiterated the need for Europe to make its "best efforts" to resolve the debt crisis in the eurozone. "As we have said many times, Japan is prepared to support European efforts to stabilise the financial markets, including ...
Continue reading Japan Calls for “Greater Efforts” from Europe
January 20th, 2012
On the opening day of the International Tourism Fair in Madrid (Fitur) on Wednesday, the President of the Junta de Andalucía, José Antonio Griñán, highlighted the main results of the industry in the community. "Tourism is one of the economic engines of growth", stated Griñán, who added he believes the ...
Continue reading 2011 was Year of Consolidation for Andalusia Tourism
January 19th, 2012
Iberia’s Intercenter Committee, which represents the ground workers of Iberia Airlines, on Tuesday approved an indefinite strike call for the airline, to take place every Monday and Friday from 3rd February. This is in addition to a further 3 days of strikes already planned for January, on 25th, 27th and ...
Continue reading Iberia Ground Staff to Strike Weekly from 3rd February
January 18th, 2012
Spanish Prime Minister Mariano Rajoy said in a convention held over the weekend that the number of unemployed in Spain at the end of 2011 reached 23.3 percent, and devoted much of his speech to explaining the economic reforms to be undertaken, stressing that they are all aimed towards economic ...
Continue reading Spain Unemployment Up Again
