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Spain Papers Review - Friday October 10 2008
By h.b. - Oct 10, 2008 - 9:50 AM
Today's El Mundo front page.

As is now the norm, the financial crisis leads the papers in Spain this morning.
El Mundo headlines that the Minister for Tax and the Economy, Pedro Solbes, gave no guarantee to the Partido Popular that the money (from the bank fund) will get to families and businesses.
The paper says the meeting with the PP’s Cristóbal Montoro was a failure, and that the PP rejects the Government’s claim that the fund will not cost the taxpayer anything.
El Mundo notes that the Minister for Health, Bernat Soria, has said that given the crisis he will be stepping up the vigilance on the mental health of the Spanish people.
El País headlines that the economic authorities have warned of the risk of a world recession. The paper says the IMF, World Bank and Brussels have all demanding coordination from the Governments as Wall Street fell by 7.33%.
ABC headlines that the Partido Popular are to audit the costs of Zapatero in Congress. The opposition has prepared 32 questions on items revealed by ABC including ‘Palace Costs’ claimed by the Prime Minister.
El País reports from the Mediterráneo Real Estate fair and headlines – ‘buy one take two’ as offers arrive in the housing market. The paper says sales of property on the Costa del Sol are down 70% in a year and there are 24,000 homes in the area on the market. The two for one offer is as follows – buy a villa in El Palo in Málaga for 780,000 € and get an apartment in Vélez-Málaga for free.
The numbers of the falls on the markets across the world continue to dominate. El Mundo says that Wall Street collapsed 7.3% the largest fall since the crash in 1987. The paper notes the Spanish stock market has lost 35% in a year, while the Euribor mortgage rate continues to increase despite the reduction in the base rates.
Público headlines that President Bush is planning to nationalise part of the banks. The paper says the United States treasury is prepared to buy the shares of banks in difficulties in a new attempt to rescue the financial system.
El País notes that the accident commission into the Spanair crash has eliminated a previous allegation of pilot error from the preliminary report into the accident in Barajas on August 20.
ABC notes that the alarms on flight JK 5022 did not work.
El Mundo notes that the Government has regularised 330,000 immigrants over the past three months. The paper says that the immigrants prefer unemployment pay in Spain to returning home.
El País reports that China has embarked on a grand agricultural reform. It says that for the first time people can trade land over a 70 year period, even though the ownership will remain in the hands of the state.
El País notes that universities in Madrid have warned of what is called their ‘financial suffocation’. It follows a 30% cut in funding from the regional government.
The detention of the Spanish lawyer, Rodríguez Menéndez, on the run since August in Argentina is mentioned in El Mundo. The paper notes that he has changed his appearance in an effort to elude justice.
ABC has a front page photo of his arrest in Buenos Aires.
El País has a front page photo of French Novelist, Jean-Marie Le Clézio, who has been named the winner of this year’s Nobel Prize for Literature.
And finally,
El Mundo highlights the decision of the Mayor of Madrid, Alberto Ruiz-Gallardón, who has banned the activities of sandwich board advertising men in the capital. The mayor says he’s making the move to protect the ‘dignity of the people’. The paper says those affected are not impressed at losing their jobs, and notes the Mayor was only too pleased to greet Fernando Alonso the other day when he was wearing the names of several of his sponsors on his clothing.
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