World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Spain: Budget Woes Hit Regional Governments
Keywords:
Tags: Early Warning, Spain,
In Spain regional governments finance the costs of education, health care, more than elsewhere in Europe. Analysts in Spain say the spending went out of control during the boom years of the last decade. Governments from Catalonia, Valencia to Andalusia spent lavishly in these years on everything from stadiums to theme parks and hired many public employees. Regional revenues have gone down by 9% in the last 2 years and local governments in Spain are now trying to raise $57 billon in the debt markets, more than any other local governments in Europe, except for Germany. And regional governments like the government in Catalonia are paying 3.3%, one percentage point above what the Spanish government is paying. Spain's local governments have $200 billion in debt, and more spending cuts are expected as tax revenues continue to fall short. Spain's economy is expected to decline by 0.3% in 2010.
Spain's economic growth
07/22/2010
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
Spanish Job Market May Be Turning Around
Wall Street Journal 01/24/2014
In Europe, Even the German Powerhouse Is Losing Steam
New York Times 11/18/2011
Spain's Budget Cuts Trigger Downturn
Wall Street Journal 01/31/2012
Spain Spells Out Latest Plan to Bolster Health of Lenders
Wall Street Journal 02/03/2012
Spain's efforts to control regional spending
07/22/2010
Spain is a highly decentralized country with the central government in Madrid able to exercize little control on spending by the regions. The eurozone crisis and the higher than expected 8% deficit in Spain for 2011 is changing attitudes in the regions and in Madrid. The clause inserted in the constitution in 2011 with Germany's insistence for a balanced budget gives Madrid power to restrain spending. An agreement was reached with regional governments including Catalonia for new legislation on spending controls. Valencia was downgraded along with Spain in the recent downgrade of Spain's credit rating.
Grouped Articles
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Rajoy Appeals to Catalonia to Stick With Spain
Wall Street Journal 09/23/2013
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
Madrid to Curb Spending by Powerful Regions
Wall Street Journal 01/18/2012
Spain and wasteful regional spending on infrastructure projects
07/22/2010
Grouped Articles
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
In Spain, a Symbol of Ruin at an Airport to Nowhere
New York Times 07/18/2012
Spanish Worries Feed Global Fears
Wall Street Journal 07/22/2012
Spanish Bond Rates Inch Higher Amid Fears
New York Times 07/20/2012
Wall Street Journal 10/18/2012
Spain Buries Itself In Unpaid Bills
Wall Street Journal 12/28/2012
Maria Dolores de Cospedal, president of the Castilla-La Mancha region and Spain's struggle for "cleaned up accounts"
07/22/2010
A 27% unemployment rate and GDP declline at annual rate of 3.1% by June 2012 in Castilla-La Mancha create difficult conditions. Cospedal is the senior leader in the Partido Popular after prime minister Mariano Rajoy. She says she wants growth and employment, but her first priority is to have "cleaned up accounts" so that Spain's borrowing costs can be brought down. Lack of credible finances in the regions are a major problem in Spain recognized by all sides, but the drive to reestablish credibility comes at a time of rising unemployment.
Grouped Articles
Europe's Recession Sparks Grass-Roots Political Push
Wall Street Journal 05/21/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
A Spanish Leader Emerges as a Crusader for Austerity
Wall Street Journal 06/25/2012
Spain Delays Plan to Ease Financing for Ailing Regions
Wall Street Journal 06/29/2012
Euro Zone Eases Budget Demand on Spain
Wall Street Journal 07/10/2012
In Spain, a Symbol of Ruin at an Airport to Nowhere
New York Times 07/18/2012
The debt of regional governments in Spain.
07/22/2010
With $200 billion in debt, local governments from Catalonia to Valencia, are facing more spending cuts in 2010. The local governments are looking at raising $57 billion in debt markets in 2010, the highest of any local governments in Europe except Germany.
Grouped Articles
Rajoy Appeals to Catalonia to Stick With Spain
Wall Street Journal 09/23/2013
Spanish Towns Struggle Under Crushing Debts
Wall Street Journal 10/04/2010
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
European Union Plans System for National Debt Crises
New York Times 10/29/2010
The euro crisis: Spreading from Ireland to Iberia
Economist 11/27/2010
Spain to Open Books in Bid to Calm Investors
Wall Street Journal 12/18/2010
Spain's economy 2010-2013
07/22/2010
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
Spanish Job Market May Be Turning Around
Wall Street Journal 01/24/2014
New York Times 07/28/2011
Italy Seeks to Tackle Youth Jobless Problem
Wall Street Journal 08/22/2011
Wall Street Journal 09/28/2011
Civic and grassroots efforts in Spain to fight cronyism, corruption and wasteful government spending
07/22/2010
Grouped Articles
Europe's Recession Sparks Grass-Roots Political Push
Wall Street Journal 05/21/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
Declining tax revenues after higher taxes and the burden of both higher interest payments and aid to regions is hurting Spain in 2012-2013
07/22/2010
Grouped Articles
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
Spain's New Tax Crackdown Makes It Personal
Wall Street Journal 02/09/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
Spain Braces for Renewed Austerity as Tax Take Hemorrhages
Unknown 07/10/2012
Euro Zone Eases Budget Demand on Spain
Wall Street Journal 07/10/2012
Spanish Bond Rates Inch Higher Amid Fears
New York Times 07/20/2012
Regional elections in Spain- 2012-2013
07/22/2010
Grouped Articles
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
Spanish Vote Delivers Mixed Verdict
Wall Street Journal 10/22/2012
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us
