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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.


Economist Original article ›
dw.com Original article ›
LyrArc Article Gist
Footballers from Ghana, Nigeria and West Africa excel in 2024 at Euro Cup in Germany. Saka plays for England, Nico Williams and Lamine Yamal for Spain.

WSJ Original article ›
New York Times Original article ›
New York Times Original article ›
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Are there constituent "nations" or "nationalities and regions" in Spain? Seven people drafted the Spanish Constitution that was signed by King Juan Carlos I of Spain in 1978. Two from Catalan region wanted the word "nations" instead of "nationalities and regions" instead the pro-Spain supporters including aformer minister in the Franco government wanted to keep the words "nationalities" to limit the interpretation of self-government to one that would be within Spain. Today a far right party wants to se the clauses that give self government to regions and nationalities removed from the Constitution. Catalan independence supporters say the Constitution allows the right to call a referendum. Left parties see the promises for housing, healthcare and pensions as too vague in the Constitution. What was seen as a huge advance in the early years of democracy in Spain are now seen as creating room for dissension and strife in Spain, with a fragmentation in the political parties and loss of confidence in the two main parties.   ...
Washington Post Original article ›
Wall Street Journal Original article ›
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The underground economy in Cadiz, Spain, and how "chapus" or odd jobs in plumbing or construction help support many people who are unemployed.
France 24 Original article ›
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As the heat wave in Spain, in western Canada and in other parts of the world shows, the situation is not getting better. Climate change action needs a new urgency.

Wall Street Journal Original article ›
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This Wall Street Journal editorial calls for more transparency in disclosing bad debt problems at Spanish and other European banks. It faults recent and upcoming stress tests of EU banks for not being stringent enough and taking into account adverse scenarios. While Spain's central bank says only 20 billion euros are needed to recapitalize the cajas savings banks, other estimates are much higher. Moody's country report says Spain could need upto 120 billion euros to recapitalize its banks. A big problem is European banks exposure in Spain which is over 700 billion euros as of September 2010- Spanish banks have high exposure in Portugal and German banks have high exposure to Spain.
Wall Street Journal Original article ›
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A difficult period for the monarchy in Spain after a number of scandals affected the reputation of King Juan Carlos. His son has a graduate degree in international relations from Georgetown University. He has distanced himself from the scandals, brings a youthful look at 46, aand was groomed by his parents for the job. Though Juan Carlos has seen his repuation tarnished in recent years, especially with the continuing economic hardships of high unemployment in Spain, he played a large part in Spain's transition to democracy after the Franco years. Even with such difficulties just over half of Spaniards respect the monarchy down from much higher numbers before the economic crisis, when Juan Carlos was seen as a modernizer for Spain. Because of Spain's history of Republicanism at odds with a conservative culture and the Franco years of division accompanied by great distress, the monarchy's role requires a special touch- a feeling for the needs of the people which Carlos showed in the early years, and for which Felipe was trained....
dw.com Original article ›
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Southern Turkey is hit by a powerful earthquake centred around the city of Gaziantep, southeastern Anatolian region. The European Union countries including Germany and Spain send rescue teams and other aid.

France 24 Original article ›
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Storm interrupts the Germany Denmark game 2-0 in first half for 25 minutes. Germany overcomes adversity to get into the quarter finals of Euro 2024 to meet Spain or Georgia.

Wall Street Journal Original article ›
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Jose Maria Aznar, former prime minister of Spain, describes the political legacy of King Juan Carlos of Spain in putting Spain on the track of democracy, free elections, consensus, and modernization, after the traumas of the civil war and the period under General Franco.
The Times Original article ›
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France, Spain, Austria and Belgium are seeing a second wave of the coronavirus.

Wall Street Journal Original article ›
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Moody's downgraded its outlook on Germany's triple-A credit rating to negative. It also shifted to negative the outlook on triple-A ratings of Netherlands. Spain's ten year bond yield went up to 7.51% on July 23, 2012 according to Tradeweb. Analysts estimate Spain needs to issue 28 billion euros of debt for the rest of 2012 to cover deficits and repay maturing debt, and 50 billion euros in short term Treasury bills. An additional 30 billion euros may be needed if tax revenues decline increasing the deficit, and to meet the needs of regional governments. In changing the outlook for Germany, Moody's emphasized the costs Germany would incur if Spain needed a full bailout and if the situation spread to Italy, including the large exposures of German banks to Italy and Spain.
The Guardian Original article ›
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Industry will bear the brunt of cuts under a gas rationing plan approved by EU nations. EU nations will reduce gas usage by 15% with some flexibility granted to Spain, Portugal and Hungary.

Wall Street Journal Original article ›
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Mariana Rajoy of the Partido Popular, Spain's conservative party, leads the opposition Socialist party candidate by a wide margin of over 15% in polls ahead of general elections in Spain on November 20, 2011. Rajoy is planning major changes in the first 100 days and the early period of his administration to bring down Spain's deficit and restore economic growth. Spain faces difficulty borrowing in capital markets after contagion from Greece and Italy, and Spanish bond yields were up to 7% on Nov. 17, 2011. About 150 billion euros in debt will have to be financed by Spain's government in 2012. Spanish banks will have to raise an additional 120 billion euros, and nonfinancial corporations will have to raise 30 billion euros, according to PriceWaterhouseCoopers. Luis de Guindos, head of Financial Center, a banking industry think tank, says the challenge to get markets to open up for Spain is to create expectations that the Spanish economy will return to growth. The outgoing administration of Jose Luis Zapatero, has taken some austerity measures with public sector wage cuts, changing labor laws to make it easier to hire and fire workers, and a pensions overhaul to move the statutory retirement age to 67 from 65. ...
The Economist Original article ›
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This piece in the Economist magazine points out why people in Portugal, Spain and Italy resent the remarks of Dutch finance minister, Jeroen Dijsselbloem, current head of the Eurogroup council of finance ministers, In an intervew with Germany daily Frankfurter Allgemeine Zeitung, he said he was proud of the solidarity shown by northern European countries with the southern ones, but solidarity he said means obligations- " I cannot spend all my money on schnapps and women, and then ask for your support."  It also points out that Dijsselbloem's Labor Party lost three fourths of its seats in the recent Dutch elections and so is an unrepresentative presence in the Eurogroup. By supporting austerity policies in a coalition with a centre right party the Labor Party lost most of its seats. Dijsselbloem did this in the EU with strict rules for Italy for injecting money to recapitalize its banks and increase growth that have hurt Italy, and earned the resentment of Mr. Renzi, says the Economist magazine.He may even be replaced by an official from Spain or another southern European country, says the magazine. In any case it does little for EU unity at a sensitive time, and was a serious mistake. The timing was even worse, as the EU faces a test in elections in France and Germany, after Netherlands, and needs popular perceptions to be positive about what has been achieved since the dark days of 1945. ...
New York Times Original article ›
The Guardian Original article ›
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Refreshing view of children playing in Spain- in a park in Seville, children skating outside the Ventas building in Madrid, a girl playing at a fountain outside the Guggenheim museum in Bilbao. For a long time children were not allowed outside. Deaths drop below 300 in Spain. Growth of infected cases decreases from 38% on March 14, 2020 to 3% in recent weeks and 0.8% April 25 at about 1700 cases. Spain was the worst hit country with 23,000 deaths along with Italy and France.

Wall Street Journal Original article ›
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Financial problems at Banca Monte dei Paschi di Siena and the Italian government's role has introduced an element of uncertainty in the upcoming election in Italy. This has helped former prime minister Silvio Berlusconi recover in the polls. In Spain the newspaper El Pais published information from the ruling Partido Popular financial records showing hidden payments of 25,200 euros a year between 1997-2008. The opposition leaders asked for Rajoy's resignation and Rajoy did not address the matter directly till a joint appearence with Merkel in Berlin, where he said: " I have exactly the same strength, the same courage, and I am just as determined to continue as prime minister to overcome one of the most difficult situations in Spain of the last 30 years." Rajoy has a solid majority in parliament, with his party firmly behind him. This is unlikely to affect the political situation in Spain.
France 24 Original article ›
LyrArc Article Gist
Fox news channel will now be available for news coverage in Mexico, Spain, UK and Germany.

New York Times Original article ›
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The 2014 budget for Spain is free of the strong austerity measures, cuts in spending, and tax increases, of earlier budgets. Growth is expected to be 0.7% in 2014, after 1.3% decline in 2013. The unemployment rate is set to decline from 27% high in first quarter of 2013, to 25.9% in 2014. Savings of $800 million euros will come from changes in the pension system and civil servants face a freeze in salaries for the fourth year. The premium over German government bonds for Spain's government bonds is now less than that of government bonds of Italy. Cost of financing Spain's debt is projected to decline by 5.2% to 36.6 billion euros, according to Treasury minister Montero. The EU with the backing of the IMF has considered the high unemployment in Spain in its decision to relax deficit targets. This has given Spain an opportunity to clean up its accounts without further damage to the economy. Spain's deficit will now decline to 6.5% in 2013 from a deficit of 6.8% in 2012. The target for the deficit is set at 5.8% for 2014. Credit is still tight and consumer spending weak, major concerns for the government- in addition to the need for creating jobs- of prime minister Rajoy....
Wall Street Journal Original article ›
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Bank of Spain Governor Luis Maria Linde told a parliamentary committee "the loss of confidence in our banking system cannot be blamed exclusively on the global economc downturn, on problems in the eurozone, or on our own recession." He was critical of the previous Bank of Spain Governor Fernandez Ordonez, an appointee of the previous Socialist government, for "acting with little determination, or insufficiently or inadequately." He said the central bank's permitting of virtual mergers of troubled savings banks in place of real mergers with restructuring decisions, were part of the problem. Linde is a member of the ECB's governing council. Spain's central bank had for years championed macroprudential supervision, where banks set aside funds in good times for contingencies in bad times. Linde described those efforts as having failed because the Bank of Spain was "too timid" with the provisions set and failed to curb the credit and property bubble.
Wall Street Journal Original article ›
LyrArc Article Gist
Spain has become a highly decentralized country in the response to decades under the military dictatorship of General Franco. Regional autonomy was suppressed in Galicia, Catalonia, Valencia and other regions during that period, and the trend after the country became a democracy was a high degree of decentralization and regional autonomy. This trend is being corrected in the area of spending discipline for all areas of administration in regional and state governments through a new agreement reached between the Mariano Rajoy government and the regions, including Valencia and Catalonia. In exchange for funding and liquidity from Madrid the regional governments have agreed to accept spending controls, penalties for exceeding deficit targets, and automatic spending cuts. The new legislation is being worked out between the Rajoy administration and regional governments. Rajoy says the failure of Spain to reach its 6% deficit target- it came out at 8%- was the result of overspending of 17 regions. The 17 regions together had a deficit of 2.7% of GDP, which was twice their 2011 deficit target. The new Budget Minister Cristobal Montero says the new agreement "has great political significance," as action can now be taken with new legislation for spending discipline at all levels of public administration in Spain. ...

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