catalan way

The Catalan Government issues 2,700 million euros in retail bonds to generate cash

April 12, 2011 01:58 AM | CNA / Gaspar Pericay Coll

In order to attain liquidity and taking into account the difficulties getting money from the international markets, the Catalan Government is selling 2.7 billion euros worth of treasury bonds. These will be bought by citizens at bank branches. One-year bonds have a 4.25% interest rate while for two-year bonds it is 4.75%. At the end of the first day of sales, 29% of the bonds were sold. The measure was already taken last October by the previous Government and the totality of the bonds were sold quickly.

The Catalan Government practically eliminates the Inheritance Tax for close relatives, which means 102 million euros less in 2012

April 6, 2011 02:31 AM | CNA / Gaspar Pericay Coll

In the last elections, the elimination of the tax was one of the main promises of the Centre-Right Catalan Nationalist Coalition, Convergència i Unió (CiU), which controls the Catalan Government. From January 1st 2011, first and second degree relatives will have a 99% bonus on this tax. The decision has been taken in the middle of the debate about public expenditure cuts.

"Business must be as innovative as possible. All the staff has to take part”, says the President of Torres Wines

April 4, 2011 11:58 PM | Gastroteca.cat / CNA / Ignacio Portela Giráldez

Torres is one of Catalonia's most globally recognised wine houses, with vineyards and wineries in places such as Chile and California. Company President Miguel A. Torres believes that innovation in every step of the process of wine production is necessary. He also stressed the importance of exports to get over the crisis.

The Catalan Government says “enough is enough” to further public expenditure cuts, but Madrid keeps putting on the pressure

April 1, 2011 01:45 AM | CNA / Gaspar Pericay Coll

On the same day that Catalan hospitals presented their plans to reduce their budget by 10% and cut several services, the Catalan Government’s Spokesperson sent a strong message to Madrid saying that "enough was enough." The Spanish Government answered the calls by the Catalan Executive by saying that if it does not meet the 1.3% deficit objective for 2011, it will run out of cash. Madrid is asking for greater budget cuts. Almost all Catalan political parties, including the People’s Party, back up the Catalan Government, the main exception being the Socialist Party, which supports Prime Minister Jose Luis Rodriguez Zapatero.

Who pays for the public deficit? Autonomous Communities vs. the Spanish Government

March 31, 2011 01:35 AM | CNA / Gaspar Pericay Coll

The Spanish Government demands an additional budget reduction of 3.2 billion euros to Catalonia, while the Catalan Government claims 3.3 billion owed by the Spanish State. Catalan parties have accused Prime Minister Zapatero of reducing his government’s deficit by increasing that of the autonomous communities. The Spanish Government wants to force Autonomous Communities to pay for the deficit by limiting it through specific laws.

The PP or the PSOE will only have CiU’s support if a new regional fiscal redistribution model is agreed, affirms Mas

March 29, 2011 12:09 AM | CNA / Gaspar Pericay Coll

The President of the Catalan Government Artur Mas announced in Madrid that in 2012, if the People’s Party (PP) or the Socialist Party (PSOE) want CiU’s support to form a new Spanish Government, Catalonia needs more money and greater control over its own finances. Mas made these comments the same day his Government agreed a 400 million euros loan.