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Posts related to ‘Spain austerity’

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No Relief for Unemployed in Spain

Posted: May 6, 2013 at 6:50 am

Unemployment in Spain has been above 24% for several months, and there is nothing about the nation's economy that will reverse that. The central government has complained that austerity is ...
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Spain Slips Further into Recession

Posted: October 30, 2012 at 7:10 am

Spain slipped further into recession, which means that its need for aid has accelerated. Its gross domestic product for the third quarter dropped 0.3%, on top of a drop of ...
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What’s Important in the Financial World (9/28/2012)

Posted: September 28, 2012 at 6:30 am

Paris Auto Show The Paris Auto Show had its usual large number of new model introductions, along with dozens and dozens of displays of cars and light trucks already on sale around ...
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Spanish Bond Yields Soar, Equities Sink

Posted: September 26, 2012 at 7:29 am

The pain in Spain appears to be about to get worse. Yields on 10-year government bonds rose 22 points to 5.93%, following an announcement from the Catalonia region that a ...
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Spain’s Unemployment Rockets Higher in Q2

Posted: July 27, 2012 at 5:28 am

Spain's unemployment rate continues to rise without a break. The Instituto Nacional de Estadística (National Statistics Institute) reported that in the second quarter unemployment rose to just over 24.6%, up from 24.4% ...
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What’s Important in the Financial World (7/11/2012)

Posted: July 11, 2012 at 6:30 am

Spain has decided the only way to tackle its budget deficit is via extremely sharp expense cuts coupled with a more modest move to increase taxes. Prime Minister Mariano Rajoy says his ...
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New EU Bank Bailout Plan Is Not Enough

Posted: June 29, 2012 at 6:14 am

The usual arrangement for the bailout of large banks in Europe has been for sovereigns to take on loans from eurozone funds and then use those funds to recapitalize their troubled financial ...
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Spain Fights Tax Fraud

Posted: April 13, 2012 at 6:25 am

Bloomberg reports that Spain will increase its fight against tax fraud as it desperately tries to prove to global capital markets investors who have abandoned its bonds. This abandonment has ...
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What’s Important in the Financial World (4/6/2012) Samsung Profits, JCPenney Layoffs

Posted: April 6, 2012 at 6:10 am

JCPenney (NYSE: JCP) will cut 900 jobs at its headquarters, which is about 13% of the total. New CEO Ron Johnson, formerly of Apple (NASDAQ: AAPL), claims this will turn ...
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Spain Austerity Problems

Posted: April 6, 2012 at 5:56 am

Spain's political leaders will present EU budget directors with its plan to comply with new austerity measures. It needs to hurry the process. Spain's bond yields have risen to unsustainable ...
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As Spain Strikes, Reactions Against Austerity Surge

Posted: March 29, 2012 at 6:36 am

Strikes by union members across Spain represent another major obstacle to the future of austerity in the most financially troubled EU countries. The strikes can be added to the threat that ...
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The Limits of Austerity Continue to Be Tested

Posted: March 14, 2012 at 6:47 am

Greece will have to cut another 5.5% in GDP of government spending or miss the budget targets it has set for a bailout. This is according to a European Commission report that ...
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Greeks March as Spain Misses Growth Targets

Posted: October 5, 2011 at 6:32 am

More bad news from Europe. Spain’s Employment Minister Valeriano Gomez told CNBC that a slow economy almost certainly will cause his country to miss growth targets. About the same time ...
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