MADRID (AP) — Spanish authorities say they have arrested a Panamanian woman arriving at Barcelona airport with 1.38 kilograms (3 pounds) of cocaine concealed in breast implants.
Non-performing loans held by Spanish banks increased to a yet another record high of 10.7% of their outstanding portfolios in September from 10.5% in August. The bad debt increased by over €3B to €182.3B, while total loans edged up to €1.7T, or 170% of Spain’s GDP.
MADRID–Bad debts held by Spanish banks rose to their highest level on record in September, the country’s central bank said Monday.
According to [...]
Protesters on Wednesday flooded Madrid in a massive show of force against biting austerity policies, capping a Europe-wide day of strikes and protests.
Activists, chanting, whistling and setting off firecrackers, swamped a stretch of about two kilometres (more than a mile) of a broad avenue from the main Atocha railway station to the symbolic Plaza de Colon square.
Many tens of thousands of people joined the rally in the Spanish [...]
Spain’s Basque nationalist and separatist parties, who came second in Sunday‘s regional elections, have said they will push for independence from the country’s central government in the regional parliament.
“It is time to start thinking as a people, as a nation. It is time to stop the orders from Madrid,” the head of the Euskal Herria Bildu coalition, Laura Mintegi, told a post-election rally in Bilbao on Monday.
She added that the [...]
Yesterday, we reported on an alleged Chinese mafia money-laundering plot in Spain that led to scores of arrests — including that of a Madrid Councilor and a Spanish porn star.
Well that was just the tip of the iceberg.
In a press conference today, Ignacio Cosidó, the Director-General of the National Police, said that the uncovered plot was so lucrative that it “distorted the functioning of the [Spanish] economy.” Cosidó believes the that the syndicate was smuggling approximately €160 [...]
Thousands march the streets of Madrid under slogan ‘We don’t owe, we don’t pay.’
(ANSAmed) – MADRID, OCTOBER 10 – Spanish students will take to the streets October 16, 17 and 18 to protest the government’s 4-billion-euro spending cuts…
inspiration at 38 seconds (video):
the information revolution is alive and well
The middle-aged man sitting on a railway station bench protects a younger man by wrapping his arms around him as he shouts desperately at the helmeted, baton-wielding police officers running up and down the platforms at Madrid’s Atocha station.
“Shame on you! Shame on you! Shame on you!” he bellows repeatedly in a video that shows how police charged into the station during violent demonstrations that shook Madrid last week.
On the [...]
Spanish press told to leave area of protest
No doubt about it, this is HUGE and exactly what Celente has been warning about for the past few years
MADRID (MarketWatch) — The Moody’s Investors Service review of Spanish sovereign debt could come as soon as the close of Europe or U.S. markets Friday, say analysts. Moody’s said in August its review on Spain’s Baa3 rating would continue through the end of September, which is this Sunday. At the time it also said it was waiting on more information on recapitalization needs of Spanish banks, which is coming at [...]
They showed their true face yesterday.
Livestream from Madrid, they just fired rubber bullets:
“Estan locos. Estan barbaros.”
Raw footage shows chaos inside a busy Madrid subway station after riot police opened fire on protesters. This is not going to end well once these images are disseminated in Spain. More than 50% of the population under 25 is unemployed. Think about that. There are approximately 2 million young people without jobs, many with a penchant for anarchy, and now they have a chip on their [...]
From Zero Hedge:
Remember when we said two months ago that one way or another the market will need to tumble to enforce the chain of events that lead to Spain demanding the bailout which has long been priced in, and (especially after yesterday’s violent protest) Rajoy handing in his resignation?
Well, it’s “another.”
After nearly 3 months of suspending reality, in hopes to not “rock the boat” until the U.S. presidential election, [...]
There will be 3 simultaneous marches starting at 5 30 Madrid time. They will converge and surround the National Congress.
Barcelona is planning a similar action and the Catalans will surround it’s parliament which is in session today with important meetings.
This is a live link to the University Students Federation camera and march.
Free desktop streaming application by Ustream
as of now it is the only feed up on u-stream and will begin [...]
Euro zone finance ministers want a clear cut answer from Spain whether it will seek financial support after Madrid’s borrowing costs sharply lowered following the European Central Bank decision to buy bonds last week.
Will Spain ask for its bailout, so that the ECB’s unlimited bond buying project can be launched? This question has recently been number 1 in Europe. The ECB has made it clear that a Spanish request for [...]
What started out as a celebration that marked marking Catalonia’s “National Day” turned into one of the biggest gatherings the city has ever seen.
Over a million Catalonians descended upon Barcelona yesterday, protesting current economic conditions, tax policies, and what they see as an unequal distribution of wealth.
“Catalonia: a new European state”
Catalonians have long viewed themselves as culturally distinct from the rest of Spain. They have their own history, traditions, and a [...]
LAS VEGAS (AP) – Casino company Las Vegas Sands Corp. is picking Madrid over Barcelona for a big Spain casino project dubbed “EuroVegas.”…
The 74-year-old stumbled up a step on a visit to army headquarters in Madrid yesterday morning and was photographed as he lay sprawled on the flagstones while aides rushed to pick him up.
The accident caused no lasting damage, the Royal Palace said, and the King was able to complete his visit as planned.
He later attended a photo call with military chiefs sporting a swollen and grazed nose.
It is the latest [...]
The renowned Spanish lawyer representing Julian Assange said he was worried about the WikiLeaks founder’s health due to the pressure on him as he fights efforts to extradite him from Britain.
Baltasar Garzon, known for pursuing Chile’s former dictator Augusto Pinochet, met Assange, 41, on July 19 in the Ecuadorean embassy in London, where the Australian Wikileaks man has taken refuge and is seeking asylum.
“He seemed to me steady and determined [...]
A full-blown sovereign bail-out of Spain would be economically and politically impossible and cost up to €650bn (£510bn), an in-depth study has warned.
Leading think-tank Open Europe made the estimate based on the assumption the Spanish government would be forced out of the markets for three years because of its unsustainable borrowing costs, as happened in Greece, Ireland and Portugal.
Between now and mid-2015, Spain has funding needs of €542bn, with its banks [...]
Spain is battling to avert a fully-fledged sovereign rescue after borrowing costs spiralled out of control, with dangerous knock-on effects in Italy and Eastern Europe.
The yields on closely-watched two-year debt surged by 78 basis points to a modern-era high of 6.42pc, leaving it unclear how long the country can continue funding itself. Italy’s two-year yields vaulted to 4.6pc.
“We can’t keep going like this for another 15 days,” said Prof Miguel [...]
Spain is not Uganda: this morning Spain is increasingly looking like the 10th circle of bondholder vigilante hell with its 10 Year trading at 7.59% after hitting a record 7.607% moment prior. The short end has blown out even wider and the 2 Year very appropriately at 6.66% and rising. Italy has also joined the party blowing out to just why of 6.5% and Italy’s banks about to be halted [...]
Spain’s recession deepened in the three months through June as the toughest budget cuts in the country’s democratic history pushed the economy into a third consecutive quarter of contraction, the Bank of Spain said.
The euro area’s fourth-largest economy shrank 0.4 percent from the first quarter, when gross domestic product fell 0.3 percent, the central bank said in an estimate in its monthly bulletin released in Madrid today. Domestic demand “fell more sharply than in [...]
After Madrid passed a crushing new round of austerity measures on Thursday, the country erupted in widespread protests. Germany did its part to approve the Spanish banking bailout on the same day, but German editorialists question on Friday whether the aid will have the desired effect at home or abroad.
Spain may soon be getting aid for its troubled banking sector, but that appears to be of no comfort to the [...]
While the EU Commission is worrying the remains of the 100 billion euros ($122 billion) intended for recapitalizing Spanish banks will be used for other needs such as bond market intervention, Angela Merkel is having a tough time trying to persuade Germ
“The up to 100 billion euros, which the euro zone has undertaken to provide to Spanish banks is to do just that, it is only for that purpose and [...]
The Spanish government plans to split the country’s train operator Renfe into four companies before July 2013, when it plans to liberalize railway passenger traffic, Cinco Dias reported today.
The new firms will be specialized in passenger traffic, freight, maintenance and rolling materials, the newspaper said, citing Renfe President Julio Gomez-Pomar and Carmen Librero, the Ministry of Development’s secretary general for transport.
To contact the reporter on this story: Manuel Baigorri in Madrid at firstname.lastname@example.org
People are rioting in cities all over Spain. Today the government aproved a tough austerity package. On Wednesday, deputy Aurora Fabra said “fucked them” when the President announced a reduction in the unemployment compensation. This was the spark of the revolution!!
Watch live streaming video from globalrevolution at livestream.com
Watch live streaming video from spanishrevolutionsol at livestream.com
Raúl Ilargi Meijer, The Automatic Earth
The yields on Spanish and Italian 10 year bonds have been falling lately, though not by much (Update: they’re rising again already, even with a “good“ Italian auction). Why? Mainly because the Eurozone promised to ship €30 billion to Spain’s banks. And partly because Spain got another year’s time to comply with EU budget demands. And also partly because Spain announced its (hard to keep count) [...]
via google translate:
The tension never ceases between riot police and protesters . At least nine people were arrested near the Puerta del Sol in the disturbances recorded after a rally in support of the miners and against cuts announced by the Government that he had been called to the 19.30 pm. Two hours later, there have been several police raids and carried out the arrests.
According to the delegation of government, the demonstrators gathered in the Puerta [...]
07 July 2012
Spain, under pressure on financial markets as its borrowing costs reach dangerously high levels, had held out for the move to help stabilise the banking system without making Madrid’s sovereign debt burden even worse.
The EMS aid is conditional, however, on setting up a [...]