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Spain Buries Itself In Unpaid Bills
Keywords:
Local governments in Spain, Italy and Greece, falling behind in payments to local companies
12/28/2012
Pharmacies and other businesses closing in Spain because local governments short of revenues fail to make payments.
Grouped Articles
Government Approves Financial Support for Rome
Wall Street Journal 03/02/2014
Spain Buries Itself In Unpaid Bills
Wall Street Journal 12/28/2012
The management and culture of the Cajas Savings banks in Spain- the Cajas in Galicia
02/25/2010
The Cajas, local savings banks, evolved in the post Franco years into banking institutions that controlled significant deposits and expanded into the real estate sector. This happened under Cajas leaders who ran the cajas for many years and became highly influential in the political system. After the bubble burst these Cajas had to be consolidated under new management by the federal government in Madrid. Prime minister Rajoy of Spain comes from the same region of Galicia in northwestern Spain. Today the Cajas are seen as a symbol of the bubble years and lack of financial controls.
Grouped Articles
New York Times 05/17/2013
Wall Street Journal 09/28/2011
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
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 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's Catalonia region- growing sentiment for fiscal autonomy and a referendum for independent status
09/10/2012
Grouped Articles
Catalan Separatists Pull Off Protest But Referendum Is Harder
Wall Street Journal 09/12/2013
Rajoy Appeals to Catalonia to Stick With Spain
Wall Street Journal 09/23/2013
Wall Street Journal 12/02/2013
Spain: Catalonia Calls Vote on Split
New York Times 12/12/2013
Catalan TV Network Reflects Separatist Fervor
Wall Street Journal 01/02/2014
Madrid Rebuffs Catalonia on Secession Vote
Wall Street Journal 01/17/2014
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 impact of the housing bubble related banking crisis on small and medium sized business in Spain
02/25/2010
About 60% of the economy and 80% of the jobs in Spain are with small and medium sized business. The consolidation of banks is leading to loss of local contact. The need to build capital reserves to cover bad loan losses means banks are calling in loans to these businesses. This is happening in smaller towns and cities across Spain, and will worsen the already high 25% unemplyment rate. The credit squeeze is hurting the recovery.
Grouped Articles
Europe’s credit crunch: Mend the money machine
Economist 05/16/2013
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
For Some in Europe, High Lending Rates Hamper Recovery
New York Times 05/12/2014
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
Spanish Loan Data Suggests Modest Recovery
Wall Street Journal 10/25/2014
In Spain, Banks Find Dry Lending Landscape
Wall Street Journal 12/04/2014
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
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
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