Spain’s government will unveil reforms to rigid labour laws today that it hopes will be radical enough to get to grips with sky-high unemployment while not severing links altogether with unions ahead of key regional elections. Investors will be watching closely as the legislation also marks the latest stage in a concerted campaign by Madrid Continue reading →

Spanish Banks received a third of all the European Central Bank money loaned in December, at a total of 118.861 billion €, from the total request from European banks for 400 billion €. However the banks from other European countries reduced their requests over the month. Experts have ruled out that the so-called ‘free bar’ Continue reading →

Agreement between employers and unions seems less likely José Manuel Soria – EFE The chances of reaching a grand agreement on the labour market between unions and employers are reported to be receding. Despite the continued participation of the leaders, the talks are reported to be stalled, and now a minimal agreement is being discussed. Continue reading →

Spain’s government does not plan to raise value-added tax, Prime Minister Mariano Rajoy said on Tuesday in his first interview since his government passed a slew of austerity measures, including tax hikes. “We felt that the best for the economy was not to do it, and so we do not plan to raise value-added tax,” Continue reading →

EU agrees punishments on countries which do not meet their EU deficit targets The European Union has reached an agreement on the punishments to be handed down on countries with a high deficit. The mechanism will be for fines equivalent to 0.2% of the country’s GDP for those countries which fail to meet their European Continue reading →

The IPC inflation index rose by 0.1% in February to take the annual rate to 3.6% according to the National Statistics Institute. Transport costs have risen by 10% over the past year as the price of oil continues to soar. Underlying inflation, which does not include energy or food costs, rose by 0.2% to reach Continue reading →

The Spanish Economy shrank in 2010 by only 0.1% of G.D.P. The number is less than expected, as much as 0.2% lower than the Government’s own expectation. After showing no growth in the third quarter, the economy grew by 0.2% in the last three months of the year. The number comes from the Bank of Continue reading →

Spanish Prime Minister, José Luis Rodríguez Zapatero, has said it will take Spain five years to correct the structural imbalances in its economy. Speaking in Congress after the last meeting of the European Council in Brussels, Zapatero said that the assets which Spain has to face the new stage ‘are the merits of everybody’. He Continue reading →

The government is making working people pay who had no responsibility in creating the crisis. This is unjust.” Spanish steps towards general strike say two biggest trade union confederations If you are holidaying in Spain this year you may learn a couple of new words – huelga general. In the coming days and weeks the Continue reading →