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.
An increase in consumer spending and exportations means the Catalan economy grew by 0.2% in the second quarter of the year, growing quicker than expected.
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 Catalan GDP is expected to fall 0.3% in 2010 but grow 0.9% in 2011, according to a study from the savings bank Caixa de Catalunya, Tarragona i Manresa. Exportation, especially in the industry sector, will be the key factor behind the recovery.
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
The Bank of Spain?s Governor demands that autonomous communities and local administrations cut public expenditure even more. He has added that most of the means announced by these public administrations are too far from the level of reductions the Spanish
Catalan manufacturers have improved their activity during the first quarter of 2010, a positive trend that depends on the evolution of the debt crisis, says the Secretary for Industry and Business.
The largest financial institution in Catalonia and the largest savings bank in Europe, La Caixa, agreed to merge with Caixa Girona. Yesterday evening, La Caixa?s board approved the merger with the medium sized Girona savings bank.
Prime Minister Zapatero needs the votes from other parties to pass his Labour Market reform. Artur Mas, President of the Centre-Right Catalan Nationalist Party (CiU) has affirmed today that his party will not block the reform in the Spanish Parliament. Ci
The two main trade unions have announced a general strike against the job market reform planned by the Spanish Government. This reform has been discussed among the trade unions, business associations and the Spanish Government for more than 2 years.
Catalan President José Montilla asks for 'solidarity and cooperation' with the Spanish Government in the economic system reform and the labour market. Catalonia represents almost 20% of Spain GDP and it is its main export centre.