crisis

In the last months, the Catalan branch of the Conservative People’s Party (PPC) raised controversy in breaking a taboo in Catalan-level politics: using immigration as a political tool. Many actions were performed earlier linking immigration with insecurity. such as spreading leaflets. Yesterday a videogame where the PPC's leader was shooting at illegal immigrants was put online and, after the complains, shut down. Last week, the PPC’s President and candidate, Alícia Sánchez-Camacho proposed an “integration contract” for immigrants that, if not respected, will enable public powers to expel immigrants. The rest of the parties accused the PPC of being xenophobic and populist.

80% of Catalan municipalities registered decreases or stock stagnation during the 1st trimester of the year. For the 2nd trimester of the year, Catalonia registered decreases in real estate stock for the first time since 2006.

The “export vocation” and “good management of economic, tourism and trade competences” will ease Catalonia’s recovery from the crisis. This is the opinion of José Manuel González-Páramo, member of the European Central Bank’s Executive Board.

Today banks and savings banks started selling the treasury bonds announced by the Catalan Government two weeks ago to get cash. On the first day, about 1,000 million euros have been bought. If this pace continues, the bonds will be sold out by next week. The quantity on sale is 1,890 million, which could be increased to 2,500.

Citizens will be able to buy treasury bonds of the Catalan Government’s debt worth 1,000 euros each at a 4.75% interest rate. In the framework of the electoral campaign, the Opposition denounced that the Catalan Executive has “its drawers empty, without money”. The Catalan Government has denied this and accused the opposition of being irresponsible in order to get votes.

700 workers from the Martorell factory next to Barcelona will temporarily lose their jobs. They will return to work in June of 2011. The company still has to negotiate the conditions with unions.

Activity reports for the Institut Català de Finances (ICF), the Catalan public financial institution delivering official credit, were released on Tuesday. The number of credit requests rose by 34.1% in 2009 while activity grew by 2.5%.

Juan María Nin lectured at the London School of Economics about the current economical situation in Spain. He argued that Spain will recover if the markets continue to trust in the country’s capacity to meet its debt.

The Governor of the Bank of Spain, Miguel Angel Fernández Ordoñez, warned about the need to limit the capacity of local and autonomous communities’ administrations to increase their public debt. He wants legal limits. He also alerted that a plan B is needed if the economy worsens.

Economic crisis is hitting some families unmercifully. 40,000 families that could not pay back their mortgage have lost their homes, according to a study made by the General Workers’ Union (UGT) and a consumers association presented today. A judicial procedure that permits banks and savings banks to survey homes and put them up for auction for 50% of their value is putting thousands of families in the risk of social exclusion.

The economic crisis has not had much effect on the theatre sector in Catalonia. The sector has experienced only a 2% drop in production attendance for its 2009-2010 season.

Construction companies have agreed to receive loans for some 3,000 million euros to develop what the Catalan Government considers “strategic” infrastructures. The Catalan Minister for Public Works, Joaquim Nadal, announced this agreement this morning and listed some of these works.

The number of companies with losses in the Spanish state grew during the second year of the recession, according to the Spanish Business and Treasury Association (Asset).

The Catalan and Quebec Governments are working together on an initiative to create business alliances in order to strengthen economic bonds and gain access to financial credits.

This afternoon the Spanish Parliament will vote on the labour market reform approved by Zapatero?s Government last Wednesday. The reform already entered into force but it can be modified or blocked today by the Parliament. Last Thursday, the President of