Tag: Spain
Rehn warns Spain of the sanction of the market does not meet the deficit
The European Commissioner for Economic Affairs, Olli Rehn, on Saturday urged Spain to meet its target of reducing its deficit to 3% of GDP at the end of 2013 or otherwise, will be punished by the markets, which demand more for finance it. “Spain has managed to restore the credibility of fiscal policy” and is [...]
Geithner ensures that the private debt caused the Spanish crisis
The U.S. Treasury Secretary Timothy Geithner said Wednesday that the causes of the crisis in Spain were not motivated by fiscal profligacy, but by the loss of competitiveness and the high level of private sector borrowing. In testimony before the House of Representatives, Geithner said that in the cases of Ireland and Spain, the crisis [...]
Spain calls on North Korea to renounce to launch your satellite
The Government of Spain has called on the authorities of North Korea to suspend its plan to orbit a satellite observation through a long-range rocket. The Government, through a statement from the Ministry of Foreign Affairs and Cooperation, is concerned about this issue and calls on Pyongyang to “give up the planned launch and help [...]
Spain and Portugal asked to the EU for relief from the impact of drought
Spain and Portugal today asked the European Union (EU) to explore possible avenues of aid to farmers and ranchers to mitigate the impact of the drought affecting the country. The matter was discussed at a Council of Agriculture Ministers of the EU at the request of Spain and Portugal, countries that have asked the owners [...]
The deficit remains a “challenge” to Spain, according to Moody’s
The rating agency Moody’s credit risk reported today that fiscal balance in Spain remains a “challenge” despite relaxation of the deficit, estimated at 5.3 percent of GDP by 2012. Moody’s, in its report “Spain: the fiscal outlook remains challenging despite relaxation of the deficit target,” released today in London, believes that fiscal consolidation this year [...]
Moody’s maintains credit rating of Spain, despite new deficit target
The rating agency Moody’s maintained on Monday its deficit target for Spain, although the country can not meet the deficit targets initially set and had to consider a more modest goal to reduce spending. “The relaxation of the target does not affect the A3 rating of government bonds with a negative outlook, and Moody’s had [...]
Spain signs an agreement to expedite the export of olives to the U.S.
Secretary of State for Trade, Jaime García-Legaz, closed in the U.S. today an agreement to ensure and facilitate the access of Spanish olives to the United States has said the senior official told Efe. At a meeting in Washington with Edward Avalos, under secretary of agriculture, García-Legaz got a commitment for the system of inspections [...]
Spain expects to place this Tuesday up to 5,500 million in Treasury bills
The Spanish Treasury expects to place on Tuesday between 4,500 and 5,500 million in letters to 0:18 months, as investors are closely following the economic situation in Portugal. Some analysts have suggested that Portugal might need a second rescue, having resolved the Greek question, although this possibility has been ruled out by the financial vice-president [...]
German Finance Minister said that Spain is not Greece
Spain is not Greece, said Monday the German finance minister, Wolfgang Schauble, who said “great progress” made by Spain, despite the government’s announcement that it will break Mariano Rajoy of the deficit target agreed with Brussels this year . “Spain has made much progress,” Schauble said upon arrival in Brussels for the meeting of finance [...]
Brussels Demands Explanations From Spain For Failing On Deficit Target
Finance ministers of the euro zone on Monday asked an explanation from Spain, a few days after the government announced that Mariano Rajoy its deficit target for this year is much higher than that agreed with Brussels. Finance ministers of the 17 eurozone countries are meeting on Monday starting at 1700 hours local (1600 GMT) [...]
