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Spain Papers Review - Thursday October 9 2008
By h.b. - Oct 9, 2008 - 9:45 AM
Today's El Mundo front page.
Today's El Mundo front page.
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The financial collapse continues.

El Mundo notes that not even the concerted control on the price of money has stopped the stock market slide. The Madrid index was down 5.2% yesterday, joining London, Frankfort, and Paris with similar falls. The paper says that the Partido Popular will support the Zapatero financial plan only if the money reaches families.
PP’s Cristóbal Montoro will today ask for such guarantees from Pedro Solbes later today says the paper. The PP wants the money to go to credits for businesses and individuals and not to cover up the losses of the banks.
El País headlines that the world crisis is getting worse despite the emergency plans of the United States and Europe. The paper notes the coordinated interest rate reduction, and the continued falls in the markets.
ABC says the banks have asked for 100 billion from Zapatero to avoid a collapse next year. The paper claims that the debt they are facing will reach 94.131 billion €. ABC notes that companies fear that the fund created by the Government will not reach individuals or small businesses.
ABC notes that despite the crisis the government has spent 355,360 € on ‘Palace costs’, and claims that the Prime Minister will spend 49million next year, 22 more than Aznar in 2004.
Público describes that the world alliance to reduce the cost of credit, as the paper puts it, still has not seen the markets improve.

El Mundo tells us that the company set up by the Government to rent flats across the country has lost 21 million € in just three years.

El Mundo notes that the International Monetary Fund has forecast a serious recession (0.2%) in Spain and says unemployment will reach 15% here in 2009. The paper notes that the state budgets forecast a 1% growth for next year.

El País notes that the PP regional leader of Madrid, Esperanza Aguirre, has announced cut backs in the universities of the capital with a cut in the fund which pays the professors of 30%

El Mundo also tells us today that luxury restaurants in Madrid have reduced their prices and that sales in pharmacies have fallen by 30%.


In international stories-
El Mundo has a photo of a smiling Barack Obama after the presidential debate yesterday with a group of people. The paper notes Obama says that those who need a rescue plan are the middle class.
El País says that Obama is establishing himself as the favourite after winning the second debate with McCain.
Público says that McCain missed his penultimate opportunity against Obama.

El Mundo notes that Amnesty International has criticised Spain for expelling a Syrian man who was found not guilty of involvement in the March 11th train bombings in 2004. AI says that he faces torture in Syria.

Público notes the bull of the Lois jeans made in Spain is no more with the Sáez Merino company closing after a 50 year run.

And finally,
El Mundo reveals that stem cells have been taken successfully for the first time from adult human testicles.

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ALSO SEE :
Spain Papers Review - Wednesday December 3 2008
- Dec 3, 2008 - 9:54 AM
Spain Papers Review - Tuesday December 2 2008
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