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News, March to May 2012May 30th, recent news round-upA busy week of crisis is behind us. Last weekend Bankia, Spain's 4th largest bank, went into deep crisis, causing its value to fall 50% between the resignation of its CEO Rodrigo Rato earlier in the month and this weekend; government borrowing costs have gone above 7%; more news, links and thoughts on our Facebook page. Other recent news includes: 22nd: Financial crisis continues to make headlines, with banks in trouble, stock markets at lows of years back and politicians unable to come up with answers - In this report the BBC attempts to place blame; a UNICEF report claims a quarter of Spanish children live below the poverty line - El País; Barcelona born man becomes French Minister of Intérieur - El País; universities and schools held first general education strike - but our local High School was open as usual. 15th: Anniversary of 'indignant' movement- Telegraph; Catalonia announces new round of cuts; Spanish researchers lengthen life of mice by 24%; Strasbourg court admits religious reasons for Catholic Church sacking 'married priest' Religious Education teacher; 13th: heatwave reached May record of 35º in Cadiz - British tourists die in Canaries - Telegraph; 11th: banks asked to raise more capital buffers against housing losses - El País; 10th: Madrid starts to refuse health treatment to migrants with no papers - El País; Bankia, Spain's 4th largest bank, to be part nationalised - BBC, Guardian - many question the wisdom or capability of the government to rescue Spain's crumbling Caja savings banks; a small, unnamed town will need over 7,000 years to pay debts; royals cancel plans for golden wedding celebration - Telegraph; government complains to Britain over Wessex visit to Gibraltar - El País. April 30th: Border checks reintroduced on Pyrenees ahead of European Central bank meetings in Barcelona - several people arrested; Spain officially back to recession, but not as bad as feared - Guardian, BBC - and 11 banks have S&P rating cut, including Santander; good news for borrowers as Euribor index falls; regions ordered to make big extra budget cuts, Pama in Mallorca to lose two of four hospitals, local government employees to add 2 1/2 hours to weekly work - El Mundo (Sp); premier Rajoy to support EU initiatives to encourage growth, while continuing regular intervention - El País; 27th EAPS employment survey (pdf) shows 5.6 million, or 24.4% unemployed in first quarter - BBC, Telegraph, Guardian; 26th: 75th anniversary of the world's first significant air raid - YouTube video; Spain continues to struggle economically, with interest rates on bonds at max levels, unemployment showing no sign of falling, IBEX market index around 2003 level; Santander group sees profits down 24%; Argentina nationalises 51% of YPF, part of Spanish oil major Repsol - Telegraph; health ministry cuts leave immigrants and pensioners worse off. 3rd: Unemployment rises again to 4.75 million - BBC, El País on youth unemployment; government starts parliamentary progress of austerity budget - El País; Holy Week holiday sees many attempt to get a break - those who can away from home - as weather turns for its traditional rains! March 30th: Budget cuts announced (or confirmed) - BBC; 29th: General Strike today - BBC, Gavin Hewitt, more: 488 flights suspended - Telegraph, Guardian video, more flight information from Iberia and Air Europa, electricity demand down 16% (-24% at 8 a.m.), shops mostly open; mother and 44 year old daughter finally meet after mother was told by traffickers baby died at birth- Telegraph; Advance HCPI (inflation) reported at 1.9%; 27th: General strike ready for Thursday - Guardian; PM Rajoy to make budget speech on Friday and will announce 14% average cuts to departments - Guardian; Caixabank takes over another group of Cajas to become Spain's largest domestic bank - BBC; Iberia pilots agree Monday and Friday strikes for months ahead over new low-salary airline Iberia Express - El País; 26th: Partido Popular fails bid to win regional elections in Andalusia and Asturias - Telegraph, El País; 21st: Jaume Matas, former regional president of Balearic Islands, gets 6 years for privately hiring spin doctor - BBC, El País - king's son-in-law faces 4 charges - El País; Constitutional Court tardiness threatens decision on abortion - El País - as justice minister Gallardon announces law change - Telegraph; Catholic church starts recruitment drive Telegraph. Earlier news headlines: click here. |