Business Brief
Spanish public debt will not fall below 60% of GDP until 2037, and the Junta de Andalucía is to buy mortgaged indebted homes before the banks order an eviction of the family
Apr 11, 2017 - 9:21 PM
Spain Business Brief - Tuesday April 11 2017
Spanish public debt will not fall below 60% of GDP until 2037, and the Junta de Andalucía is to buy mortgaged indebted homes before the banks order an eviction of the family
Apr 11, 2017 - 9:21 PM
Spanish public debt will not fall below 60% of GDP until 2037, despite the budgetary stability law which set a target of 2020, estimated the supervising body of the Spanish public accounts.
Spain ended 2016 with a debt ratio over GDP of 99.4%, only four tenths lower than a year before and in nominal terms reached a record high of 1.106 trillion €.
Before the financial crisis in 2007 it was 35.5% of GDP.
The budgetary draft law for this year’s end to 98.8% of GDP, 97.7% in 2018 and 95.4% in 2019; the Independent Authority for Fiscal Responsibility demands important but realistic cut in spending.
Cuts in power supply realised by Endesa for domestic users in Spain, for late payment reached in 2016 160,819 a dramatic fall of 33% over the year from 241,306 in 2015.
According to the sustainability report of the company, 57% of residential clients saw power returned in less than 48 hours and 8% until a week.
Banco Santander has reduced its shareholding in Abengoa from 9.63% to 2.41% - a sale of 7.2% of its capital, according to the National Commission for Market Values. After this disinvestment the bank presided by Ana Botín is no longer the main shareholder after the recent restructuring, now taken over by Crédit Agricole with 8.77%.
The Junta de Andalucía is to buy mortgaged indebted homes before the banks order an eviction of the family. The Susana Díaz government is putting the final details of a preferential right for the renter, avoiding the case reaching court.
The AVE will start to run to Galician lands ‘at the end of 2019’ assured the Development Minister, Íñigo de la Serna, who therefore ratified the promised date, despite the ‘enormous difficulty’ caused by the topography of the route.
The new stretch is 126 kilometres underground in more than 40 tunnels, 13 of which are longer than 5 kilometres.
The judge in Mercantile Court 8 in Madrid has ordered the closure of the ‘inadequate processes’ in the demand of collective interests presented by Facua against Movistar for the price rise in Fusion.
In his statement, Judge Antonio Carlos Martínez-Uceda archived the demand from May 2015 for the slogan ‘for always’
The German industrial conglomerate Siemens and the Canadian Bombardier are talking about merging their train building businesses into a joint society ‘Conversations are taking place at an advanced stage’ said someone anonymous.
The panama of options for Banco Popular is devastating. The new president, Emilio Saracho, has recognised the body needs more capital and has not ruled out selling. Such an increase would be diluted too much given the remaining toxicity of the balance could drive interested parties away. A rescue or merger under the auspices of the State is the only possibility.
IBEX 35 closed down 0.21% to 10,416.30
FTSE 100 closed up 0.23% to 7,365.50
Euro / Dollar closed up 0.07% to 1.061
Spain ended 2016 with a debt ratio over GDP of 99.4%, only four tenths lower than a year before and in nominal terms reached a record high of 1.106 trillion €.
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Before the financial crisis in 2007 it was 35.5% of GDP.
The budgetary draft law for this year’s end to 98.8% of GDP, 97.7% in 2018 and 95.4% in 2019; the Independent Authority for Fiscal Responsibility demands important but realistic cut in spending.
Cuts in power supply realised by Endesa for domestic users in Spain, for late payment reached in 2016 160,819 a dramatic fall of 33% over the year from 241,306 in 2015.
According to the sustainability report of the company, 57% of residential clients saw power returned in less than 48 hours and 8% until a week.
Banco Santander has reduced its shareholding in Abengoa from 9.63% to 2.41% - a sale of 7.2% of its capital, according to the National Commission for Market Values. After this disinvestment the bank presided by Ana Botín is no longer the main shareholder after the recent restructuring, now taken over by Crédit Agricole with 8.77%.
The Junta de Andalucía is to buy mortgaged indebted homes before the banks order an eviction of the family. The Susana Díaz government is putting the final details of a preferential right for the renter, avoiding the case reaching court.
The AVE will start to run to Galician lands ‘at the end of 2019’ assured the Development Minister, Íñigo de la Serna, who therefore ratified the promised date, despite the ‘enormous difficulty’ caused by the topography of the route.
The new stretch is 126 kilometres underground in more than 40 tunnels, 13 of which are longer than 5 kilometres.
The judge in Mercantile Court 8 in Madrid has ordered the closure of the ‘inadequate processes’ in the demand of collective interests presented by Facua against Movistar for the price rise in Fusion.
In his statement, Judge Antonio Carlos Martínez-Uceda archived the demand from May 2015 for the slogan ‘for always’
The German industrial conglomerate Siemens and the Canadian Bombardier are talking about merging their train building businesses into a joint society ‘Conversations are taking place at an advanced stage’ said someone anonymous.
The panama of options for Banco Popular is devastating. The new president, Emilio Saracho, has recognised the body needs more capital and has not ruled out selling. Such an increase would be diluted too much given the remaining toxicity of the balance could drive interested parties away. A rescue or merger under the auspices of the State is the only possibility.
IBEX 35 closed down 0.21% to 10,416.30
FTSE 100 closed up 0.23% to 7,365.50
Euro / Dollar closed up 0.07% to 1.061
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