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The Spanish vice president, Soraya Sáenz de Santamaría, said the fund is an “extraordinary mechanism” that will force regions that use it to comply with “extraordinary conditions”. The money will come from a €6,000 million loan from the state lottery and the Spanish treasury. The autonomous communities that decide to use the money from the fund will have the responsibility of paying it back and will be subject to a potential intervention by the central government if they do not comply.

The Catalan minister for the Economy, Andreu Mas-Colell, said in an interview that he will ask to speak directly to Brussels if Madrid decides to intervene in Catalonia’s finances. The minister is very disappointed with the results of a meeting between the 17 autonomous communities and the Spanish Minister Cristóbal Montoro. At the summit, Montoro announced a new cut in the regional deficit targets, from 1,1% to 0,5% for 2013 and from 1% to only 0,1% the year after. This could imply a new adjustment of about €650 million on top of the 1,500 million already announced by Catalan President Artur Mas only two months ago. The Catalan government spokesman, Francesc Homs, did not deny the possibility of new cuts in Catalonia in the near future. If they are confirmed, those would be the fourth round of spending cuts implemented in the country since Mas entered office in November 2010. Meanwhile, other autonomous communities still have to start to reduce spending.

Where will the basketball teams stay during the Olympics? How will they travel from the hotel or the Olympic Village to the stadium? Who will help the sailing referees if they have any problems? What will the Cultural Olympics programme look like? Four Catalans can answer all these questions. They are part of the enormous team of people working for the London Olympics 2012. The Catalan News Agency has spoken with four of the Catalan "infiltrators" in the Olympics to find out more about their contribution to the world’s biggest sporting event.

President Artur Mas says Catalonia needs to come out of the crisis stronger and citizens should “come together” in the wake of new austerity measures announced this Wednesday by Spanish president Mariano Rajoy. The Catalan government spokesman, Francesc Homs, celebrated Rajoy’s decision to cut Spanish public workers salaries, several months after the same decision was implemented in Catalonia. However, he criticised the VAT rise. The Catalan minister for the Economy, Andreu Mas-Colell, said Madrid’s plan is “in line” with EU instructions but urged Rajoy to offer “some kind of compensation” to the autonomous communities because their expenditure won’t benefit from the VAT rise.

The Catalan President has made the case for Catalan full fiscal autonomy in a trip to Portugal. Artur Mas has started an international tour to try to explain to foreign leaders why Catalonia wants to have a new fiscal arrangement with Spain. According to the president, the Catalan fiscal deficit caused by the current system is damaging Catalonia, one of the driving forces of the Spanish economy, and therefore is also detrimental to Spain.

New research by the Catalan Government studied more than 20 Catalan cities in different sectors to calculate how Catalan use has increased in schools, hospitals, public administration and media. The study, Ofercat, concludes that more traders and public employees are answering in Catalan despite it not being their usual language.

The Spanish government will launch a new mechanism to issue regional debt bonds on Thursday. This will allow autonomous communities to finance themselves through debt guaranteed by the Spanish Central Treasury. The Spanish secretary of Public Administration, Antonio Beteta, said the regions will have to comply with a strict set of additional conditions to benefit from hispanobonds.

34% of the bottles have been sold in the Girona region, but Barcelona is still “the pending market”. Sales have been 5% higher in comparison to 2010 and 18% higher compared to the last four years. The president of the wine designation, Josep Blanch, said that this “achievement” proves that Empordà DO has consolidated because since its beginnings, it has been growing year by year in a “consistent” way.

The eruption of the volcano Vesuvius destroyed the cities of Pompeii and Herculaneum, amongst others. However, the studies of the remnants have allowed historians to reconstruct the lives of these cities in an exhibition now hosted in l’Escala (Catalonia). The exhibition comes from Italy and uses the latest technologies (scenographic reconstructions, multisensorial effects, virtual interfaces, holograms, 3D technology, interactive systems and a unique 3D film with tridimensional sound and special effects) to enable visitors to walk and live in Pompeii, Herculaneum, Baiae, Stabiae and Capri. For example, they can visit the Nymphaeum of Baia which is seven metres below ground. The exposition will be open until 9th September.

The British financial news publication has also awarded the Spanish Santander the ‘Best Bank in the World 2012’. Euromoney emphasised CaixaBank’s fiancial solvency and its strong growth over the previous years.

The ‘Caixa Penedès Vijazz’ kicked off with a concert from the seven-Grammy award winner Al Jarreau. At the heart of one of Catalonia’s most famous wine regions and less than 50 km away from Barcelona, a series of jazz concerts take place over the weekend, combined with wine tasting.

The 5th edition of the Catalan capital’s music festival ‘Cruïlla Barcelona’ kicked off with Iggy & the Stooges, Nneka, Gogol Bordello, Julieta Venegas, La Pegatina, M.I.A, The Specials, Cypress Hills, 2manydjs, Sharon Jones, Amadou & Mariam, Linton Kwesi Johnson and Gustavo Gordera being some of the 35 artists who will play their music from Friday to Saturday night.

The ruling Centre-Right Catalan Nationalist Coalition, Convergència i Unió (CiU) and the People’s Party (PP) have agreed to evaluate the drug prescription fee in 2013. The implementation in 2013 of the 1 euro fee will be on the condition of meeting the deficit targets and the effects of other financial measures regarding medicines. The PP has abstained in the Catalan Parliament’s vote and the plan finally has the green light to be implemented.

Catalan and international painting from 1870 to 1970 will interact to show the relation between people and landscape. The exhibition ‘Landscapes of light, dream landscapes. From Gauguin to Delvaux’ kicks off the activities at the Espai Carmen Thyssen, in Sant Feliu de Guíxols Monastry, on the Costa Brava. This will be the first of many exhibitions in this Catalan coastal town, said Carmen Thyssen. In fact the Baroness and the town’s City Council are planning to build a permanent Thyssen Museum in the town. Thyssen also stated that it would be “wonderful” to show more paintings in her collection at Catalonia’s National Art Museum’s expansion.

Catalan companies sold more goods and services abroad than they did to the rest of Spain in 2011. 52.9% of all Catalonia’s external sales were made abroad, while 47.1% were made to the rest of Spain. In addition, it is the first time that Catalonia has registered a positive balance of trade.