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Election Is Unlikely to Cure Spain's Pain
Keywords:
The new conservative administration of Mariano Rajoy is expected to cut spending to reduce the deficit from the 8.1% expected by analysts for 2011, to 3% in 2013. The deep cuts would worsen the unemployment rate of 20%. Spanish banks need recapitalization of 26 billion euros according to the European Banking Authority, about 2.5% of GDP. Spain's 10 year bond yields reached 6.34% on Nov. 15, 2011, close to Italy's 7.10%. With the situation worsening in Greece and Italy, the perception is that there is not much the Rajoy administration can do in the current situation to improve the economy in Spain. Rajoy's plans are to improve labor market flexibility, cut business taxes, and control government spending.
Spain- politics and government 2010-2012
05/23/2011
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Election Is Unlikely to Cure Spain's Pain
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Spanish Vote Heralds More Austerity
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Spain's economy under the Zapatero administration.
08/01/2009
Unemployment, and the efforts to create jobs in other sectors, as well as keeping the gains of the social welfare state.
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Economist 02/11/2010
Spanish politics: Zapatero's endgame
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Leader Vows to Update Spain’s Economy, With Labor Rights Intact
New York Times 08/01/2009
Moody's Questions Spanish Banks
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In Spain, a Soaring Jobless Rate for Young Workers
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Spain is simply shifting the problem
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German reaction to the debt crisis in Greece, Portugal, Spain and Italy.
04/09/2009
Germany said to be turning nationalistic in this crisis, seeing Germany's economic successes as its own, and not accepting the advantage of export markets in Europe in strengthening Germany's economic position.
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Wall Street Journal 03/03/2010
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Germany's Surplus Isn't the Problem
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New York Times 05/26/2010
Spain's banks
07/09/2010
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Loan Growth Suffers at Spanish Banks
Wall Street Journal 11/13/2015
Spain to Approve Cajas Regulatory Overhaul
Wall Street Journal 07/09/2010
Crisis Awaits Worldâs Banks as Trillions Come Due
New York Times 07/11/2010
Spain under the new administration of Mariano Rajoy in 2012-2018
11/16/2011
The Partido Popular under Mariano Rajoy is expected to win a large majority in Spain's general elections in 2012.
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Spain's Rajoy Rejects Calls to Quit Over Text Messages
Wall Street Journal 07/16/2013
Spain Emerges From Recession but Sees More Austerity Ahead
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Election Is Unlikely to Cure Spain's Pain
Wall Street Journal 11/16/2011
Spanish Vote Heralds More Austerity
Wall Street Journal 11/18/2011
Spain’s conservatives declare victory in election - The Washington Post
Washington Post 11/20/2011
Conservatives Ride Crisis to Victory in Spanish Vote
Wall Street Journal 11/21/2011
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
The urgency for recapitalization of European banks in 2011-2015
07/13/2011
EU banks face potential losses of 300 billion euros from troubled EU countries. 120 billion euros from Italy, Spain and Belgium, 60 billion euros from Greece, 20 billion euros from Ireland and Portugal, and $100 billion euros from other banking exposure, accordig to the IMF. IMF managing director, Christine Lagarde, has pointed to the urgent need for recapitalization of European banks,urgently because restricted lending by EU banks in the absence of recapitalization could further damage the economies of EU countries.
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Spanish Banks More Vulnerable Than Italy's
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Bank of Italy Inspecting Top Lenders' Books
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Central Bank Details Somber State of Europe’s Banking System
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Wall Street Journal 07/04/2015
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Italy Agrees on Fund to Support Battered Lenders
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Spain's Bankia bank
10/02/2010
The consolidation of a number of Spanish savings banks under government direction led to the creation of Bankia, Spain's third largest bank. Efforts to recapitalize these banks which have large accumulated large debt from the real estate boom is part of the Spanish government's effort to tackle the debt crisis facing Spain. Rodrigo Rato, a former finance minister and managing director of the IMF, heads Bankia and the effort to restore confidence in Spain's banking system.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Spain Launches Privatization of Bankia
Wall Street Journal 02/28/2014
A Former IMF Leader Tackles IPO Challenge
Wall Street Journal 06/08/2011
Spain's Cajas savings banks
02/25/2010
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
New York Times 05/17/2013
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Economist 05/29/2010
Spain's cajas: Thinking outside the box
Economist 07/31/2010
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
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