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27th March 2018 – Stronger Economic Growth In Spain
The Spanish government says the Spanish economy is going to grow faster than it first thought. It thinks GDP in 2018 will be 2.7 percent not 2.3 percent.
Spain’s Economy Minister, Roman Escolano, says the revised growth forecast is due to faster global economic growth that has encouraged business confidence and investment.
5th March 2018 – Spain’s Services Sector Expands At Fastest Rate In 6 Months In February
Markit’s Purchasing Managers’ Index of service companies in Spain has demonstrated that Spain’s services sector is growing healthily at the beginning of 2018 and the pace of growth is accelerating. This growth is bringing more new jobs and contributing around half of Spain’s comparatively rapid economic expansion.
20th February 2018 – Spanish Government Wants Money To Remain Cheap Longer Than Germany Wants To Keep Money Cheap
Spanish government indicates it wants ECB to stick by its current QE policy keeping money cheap. However, German economists and politicians are crying out for an end to QE and increase in ECB Eurozone interest rates.
Monetary policy normalization must go hand in hand with economic recovery: Spain economy minister #Spain #Germany #Eurozone #EurozoneNews #EurozoneReports #ECB #EurozoneInterestRates #EurozoneQE https://t.co/zL5xOBBjrS
— Risk Management (@HolisticRiskMgt) February 20, 2018
19th January 2018 – Spain Expecting Improvement In Debt Rating
Spanish government bonds outperformed the market on expectations that the Spanish government’s credit rating will improve.
Fitch Ratings, independent credit rating agency, is expected by analysts to increase its credit rating of the Spanish government from BBB+ to A. This would be Spain’s highest credit rating by Fitch in 6 years.
An improve in Spain’s credit rating is important as it will mean that the Spanish government will be able to borrow money from the money markets at a lower cost. Reducing the cost of borrowing will mean Spain can do more for Spanish people at a reduced cost to the Spanish people and businesses.
Spain’s economy grew 3.1 percent in 2017, one of the fastest growing country’s in Europe in 2017. Prospects for 2018 are even better, as the global economy recovers and unemployment in the Eurozone falls. However, Spain still has the second worst unemployment levels in Europe after Greece.
11th January 2018 – Spanish Tourism Up Again
The health of international tourism in Spain is a crucial part of the Spanish economy. The number of international tourists visiting Spain broke records for a 5th straight year in 2017.
Tourism in Spain accounts for more than 10 percent of the economy. Spain is the second most visited country after France.
22nd October 2017 – Catalan Government Set To Be Dissolved
The Spanish government is set to dissolve autonomy by the Catalonian government this week.
19th October 2017 – Deadline for Catalonia to Drop Secession Plan Passed
Catalonia’s leader signed an independence declaration then suspended it, then suspended it again..
The Spanish government is threatening to suspend Catalonia’s autonomy. If this happens then it is thought that Catalonia’s leader will move on independence for Catalonia.
Spain has the legal right to impose direct rule on Catalonia, but what will happen on the streets of Spain and politically nationally? Will an official election be held? Who will govern Catalonia’s public domains? The whole of Spain’s future has been thrown into doubt never mind Catalonia’s.
8th October 2017 – Prime Minister Could Still Suspend Catalonia’s Autonomy
Mariano Rajoy has declined to rule out a suspension of autonomous rule in Catalonia to prevent Catalonia gaining independence.
Catalan president Carles Puigdemont wants separatist leaders to talk to the Spanish central government.
4th October 2017 – Debt Insurance Costs Rise
The Catalonia vote and the response has caused the cost of insuring exposure to Spanish sovereign and bank debt.
The vote in Catalonia has been declared illegal by Spain’s government, but Catalonia’s political leader says they will declare independence from Spain within days.
30th September 2017 – Catalonia Referendum News
The legitimacy of Catalonia’s referendum is in dispute. A Spanish high court orders Google to take down voting app designed to encourage voters to turn out and vote in the referendum. Catalan leader, Carles Puigdemont, has been promoting the app to voters in Catalonia to help direct voters to voting stations and promote independence views.
Spain’s government is trying to stop the planned independence vote that it considers to be illegal. Catalonia is determined to complete the referendum and act appropriately on the result.
4th September 2017 – Spain’s Draught Worsens
Spain experiencing third driest year ever. Spain’s agricultural crops are severely affected. 37 of Spain’s district’s are in emergency status.
27th July 2017 – Unemployment In Spain Lowest Since Beginning 2009
The number of unemployed people in Spain fell below 4 million in the last months month’s to June, according to the National Statistics Institute, however its still the second highest in the European Union EU.
— Online Manager (@RetirementMag) July 9, 2017
— Online Manager (@RetirementMag) June 14, 2017
— Online Manager (@RetirementMag) June 14, 2017
— Online Manager (@RetirementMag) June 13, 2017
7th June 2017 – Has Santander Been Strong-Armed Into Buying Banco Popular?
Spain’s Banco Popular bank is about to collapse unable to pay its debts and liabilities, and Banco Santander may have been told to put its had in its pocket, or shareholders pockets to save Banco Popular.
Banco Santander’s shareholder value will soon be diluted to enable the rescue takeover to go ahead. In addition, Banco Popular’s bad debt may be taken off the balance sheet to sweeten the deal.
4th June 2017 – UK Spanish Homebuyers Compensation Claim
Spanish banks look set to pay out compensation for dream Spanish homes that were never built.
Many thousands of British people planned to set up temporary or permanent home in Spain. Spanish courts have already concluded that British people can claim compensation direct from Spanish banks and don’t need to seek compensation from the Spanish property developers who mis-sold the dream and are now bankrupt.
British potential ex-pats and holiday home seekers, as well as Spaniards, paid money to buy property in Spain but the properties were never completed. Hundreds of thousands of potential property owners want their money back for something they didn’t receive.
Spanish courts have laid down the precedent that these people who are out of pocket are entitled to get compensation from Spanish banks. Spanish banks are now paying out compensation in line with the courts decree. If you are out of pocket you need to claim from Spanish banks today, even if you previously tried to sue the Spanish property developers without success. You need to claim within 15 years of the expected completion date of the property you intended to buy before the property developer went bust.
If you want to claim compensation you first need expert legal advice. Go to the legal experts with all documentation, including emails, related to the proposed Spanish property purchase including full details of any previous legal action against Spanish property developers.
Although you now have access to a business with pots of money to pay out compensation (Spanish banks) it will still take significant effort to get at this cash which still has financial risk attached.