Spain Starting To Look Like Greece

June 08, 2010 BBC World News

Spanish public workers strike over salary cuts

Spain Underground Economy Undermines Deficit Cuts

June 2 (Bloomberg) -- Bloomberg's David Tweed reports on the extent of Spain's underground economy as the government tackles its fiscal crisis.

Fitch Downgrades Spain, Casts Doubt on Growth Forecasts

May 31 (Bloomberg) -- Bloomberg's Will Chamberlin and David Tweed report on Fitch Ratings stripping Spain of its top AAA credit grade and the government's growth forecasts.

Spain Savings Banks Face Consolidation or Insolvency

May 28, 2010 — May 28 (Bloomberg) -- Bloomberg's David Tweed reports from Madrid about the financial position of Spanish savings banks. The so-called cajas helped fuel Spain's housing boom, accounting for about 50 percent of loans, and since the property crash triggered by the country's worst recession in 60 years the lenders have been under pressure to merge. The Bank of Spain seized CajaSur on May 22 after the bank lost almost 600 million euros ($742 million) in 2009.

Spain austerity package fuels anger

May 27, 2010 — Spain's labour unions have threatened to launch a general strike if labour reforms contained in the $18bn austerity package, which the parliament passed on Thursday, are implemented.

Many fear the spending cuts will exacerbate the country's job situation, which suffers from a 20 per cent unemployment rate.

But Jose Luis Rodreguez Zapatero, the country's prime minister, insists that the measures are vital to bring under control the country's alarming budget deficit.

Al Jazeera's Tim Friend reports.

[May 27, 2010]

Is Spain the next Greece?

May 13, 2010 — With one in five of its citizens unemployed the Spanish government has a tough task in hand

Spain to Cut Public Sector Wages

May 12, 2010 — FBNs Brian Sullivan with reaction to the governments decision to decrease wages in attempts to close its budget deficit.

Spain prepares for budget cuts

April 29, 2010 — Fears of financial contagion are causing extra concern in Spain which had its credit rating downgraded on Thursday.

The Spanish government says it is readying a budget plan, but with unemployment already high, any further austerity measures are bound to hurt.

Al Jazeera Nazanine Moshiri reports from Madrid.

Spain Downgraded, Europe Debt Crisis Widens

April 28, 2010 — Europe's debt crisis spread its contagion to another country Wednesday when a major credit agency downgraded Spain's credit rating, even as Germany grudgingly moved closer to bailing out Greece from imminent collapse.(April 28)

Jobless in Spain line up for food after the Housing Bubble Bust

Spanish Building Bust Forces Jobless to Line Up for

Feb. 11 (Bloomberg) — Bloomberg’s Ryan Chilcote reports on the challenges facing unemployed people in Andalusia following the collapse of Spain’s construction boom. Domino effect continues… Copyright Bloomberg 2010 unemployment jobs Greece default Portugal Italy Ireland economy economic collapse PIGS PIIGS euro euro zone eurozone dollar Spain Spanish construction jobless homeless EU European Union Central Bank

Nigel Farage : Greece and Spain should have never been allowed in the Eurozone

Nigel Farage : Greece in Eurozone was a mistake

Greece is being brought to a standstill by another nationwide strike against government debt reduction measures. The twenty-four hour walkout is already the second in the last ten days. It has been shutting down public services, grounding flights and closing schools and hospitals. Violent protests erupted at the end of February when the government unveiled new measures to help curb its debt of more than 400 billion dollars. The austerity package included a rise in consumer taxes and a pension freeze. The EU has pressured Greece into taking this harsh action, but has failed to offer any financial help. Nigel Farage, leader of the UK Independance Party, says countries like Greece and Spain should never have been allowed to join the union.

Spain is a ticking time Bomb - Sovereign Debt Unemployment Social Unrest

The Pain in Spain : Debt Woes, Unemployment Raise Concern social unrest concerns

Spain is too big for Europe to afford to bailout , this is the fourth largest EU economy , Spain has a lot of payments due in June so it is to be watched closely , some economists advice S[pain to leave the Euro and go back to the Peseta ....
March 9 (Bloomberg) -- Bloomberg's Sara Eisen reports on the outlook for Spain's budget deficit. (Source: Bloomberg)

Catalonia wants secession from Spain

New EU State? Catalan calls to redraw maps gain momentum

Momentum is growing in the Spanish region of Catalonia for an official referendum on independence. Catalonians say they should become another EU state as they have their own language and national symbols. So far unofficial polls have been overwhelmingly in favour of separation, which the Spanish government has dismissed as RT's Igor Ogorodnev reports.