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Banc Sabadell buys Caja de Ahorros del Mediterraneo (CAM) for just €1 after a successful regularisation process

December 7, 2011 10:31 PM | CNA

With this operation, the Catalan Banc Sabadell becomes Spain’s fifth largest banking group. The Bank of Spain has decided to accept Banc Sabadell’s offer to purchase the CAM, a savings bank that was rescued and restructured. Banc Sabadell buys CAM after the savings bank completed a €5.25 billion regularisation process to balance its books. Banc Sabadell will take on 20% of the expected losses over the next ten years from CAM’s real estate properties.

The Catalan Government is studying legal options to oblige the Spanish Government to pay the money it owes them

December 7, 2011 10:30 PM | CNA / Gaspar Pericay Coll

The Spanish Government refuses to transfer some of the funds that it is legally obliged to pay Catalonia in 2011. Without this money, the Catalan Government will have difficulties meeting the deficit objective for this year. The Catalan Minister for Finance, Andreu Mas-Colell, considers the stance of the Zapatero Government to be “rude” and ignorant to the needs of Catalonia. Furthermore it forces the finances of Catalonia to be put in the spotlight. Every single Catalan political group, including the Socialists and the People’s Party, have criticised the decision of the soon to be former Spanish Prime Minister, and have expressed their support for Mas-Colell.

The largest ice-skating rink in Europe opens in downtown Barcelona to attract shoppers

December 5, 2011 09:48 PM | CNA

The ice rink has been fully funded by the private retail sector. It aims to attract locals and visitors to Barcelona city centre in the hope that consumers will spend more in the Christmas period. Catalunya Square is the location for the largest ice-skating rink of its kind in Europe. The attraction has caused controversy because it occupies public space for a private activity in a time of serious economic difficulties.

Catalan music bands are a hit at London’s live music venues

December 5, 2011 06:54 PM | CNA / Laura Pous

The Great Escape Music Festival, in the UK, known for its commitment to up-and-coming groups, continues to support bands from Catalonia and other Catalan speaking areas. The latest edition of the festival brought together groups that have already performed over the past three festivals such as Mishima or Manel. This year the organisers also decided to include an exclusive space in the programme for bands from the Balearic Islands.

Catalan cinema is on the path to international recognition

December 2, 2011 06:30 PM | CNA / Sara Gómez

‘Pa Negre’ (‘Black Bread’) and its nomination to represent Spain at the 2012 Oscars reflects the desire of Catalan productions to shine with their own light, without losing their identity nor language along the way. Catalan cinema has reached a new stage in its history. Powered by a generation of young directors and a renewal of themes, Catalonia’s film industry wants to expand its borders and become part of the international cinema market.