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Spain Delays Plan to Ease Financing for Ailing Regions
Keywords:
Spain delays setting up a financing mechanism for aiding regions short of funds by extending existing credits till Spain's high bond yields of 7% decline.
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
Spain's prime minister Mariano Rajoy's handling of the economic and banking crisis in Spain
09/28/2011
Rajoy's history cautiously embracing politics as Spain emerged from the Franco era, his father's advice to avoid politics after the searing experience of his grandfather in Galicia, the early years in Pontevedra, Galicia, and regional pride in Galicia, are described in Rajoy's book "En Confianza." Regional pride and the European experiment appear to be intertwined, just as Germany would like to see its political entity merged with a European entity, Spain would like to see its political entity merged with the European entity, because of a searing interwar period. Rajoy would genuinely like to see the European experiment go forward as he made the decision to accept EU aid.
Grouped Articles
Wall Street Journal 09/28/2011
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
Spain Plans to Burn Its Bridges to Keep Vacationers on the Job
Wall Street Journal 02/08/2012
Mariano Rajoy of Spain Steps Up in Debt Crisis
New York Times 06/10/2012
EU: Spain Banks Will Be Monitored
Wall Street Journal 06/11/2012
Spain's Handling of Bankia Repeats a Pattern of Denial
Wall Street Journal 06/11/2012
Why government fiscal discipline alone will not establish a sound financial framework for the Euro currency- the example of Spain
03/03/2010
Spain kept its deficits below the 3% mandated under EU treaties, till recently. Asset bubbles sustained because of bad lending by a country's banks and easy acess to credit from outside the country, are two problems not addressed by tighter budget controls in the revised rules being set after the Dec. 9 EU Summit. Spain's debt problem is to recapitalize these failing banks and debt of regional governments. Spain relied too much on a construction boom for growth, with productivity stalled. Ireland improved competitiveness and attracted foreign investment. This too unraveled in the face of an asset bubble from speculative lending by its banks.
Grouped Articles
New York Times 09/25/2011
Wall Street Journal 03/03/2010
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
Spain's Example Shows Limits of EU Targets
Wall Street Journal 12/09/2011
The Euro Zone's Double Failure
Wall Street Journal 12/15/2011
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.
Grouped Articles
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
Wall Street Journal 09/23/2013
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 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
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
The 2012 austerity budget in Spain under prime minister Mariano Rajoy
03/30/2012
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Spain- debt, credit ratings, and borrowing costs 2011-2014
01/04/2011
Bond yields for Spanish government bonds in 2011-2014.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Netherlands Loses Triple-A Rating, Spain Outlook Raised
Wall Street Journal 11/30/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
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