Spain Papers Review - Monday October 13 2008

Spain Papers Review - Monday October 13 2008
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By h.b. - Oct 13, 2008 - 9:58 AM

Today's El Pais

The financial troubles and the faux pas from the leader of the opposition make the headlines today.

El País leads with the headline ‘Europe launches her rescue plan’. The paper says the leaders are trying to save the markets with a guarantee that no bank will close. The pact is intended to reactivate the financial system.
ABC headlines that Europe has opened the road to the nationalisation of the banks, but that Zapatero has ruled it out. The paper says that each country in the Eurozone will decide and communicate its own rescue plans today. Zapatero will announce that the State will back any new bank debt until 2010.
ABC says that the British Government will be placing 44 billion € in the four largest banks of the country.
El Mundo headlines that the Euro countries have guaranteed that no bank will go bust for the next 15 months. The paper says the States will back both the loans between banks and new debt which has to be repaid in five years. The paper says that Zapatero has said it is an historic agreement which will return the confidence and guarantee to solvency of the system.
El Mundo has a strange photo of Carla Bruni, in the garden as the summit went on, describing her as a spy outside the window.

Mariano Rajoy, the leader of the opposition Partido Popular, didn’t realise on Saturday that his microphone was open, and commented to a colleague that on Sunday he had the ‘pain in the arse’ military display to attend. El País notes that at the parade the King made a beeline for Rajoy to put him at ease after his faux pas. Jokes were made to move on from the ‘coñazo’ comment.
El Mundo says that Rajoy has now said that he has learnt his lesson and will be quiet in future.
El País has a photo of a smiling King and an embarrassed looking Rajoy. ABC also has a front page photo of the two men and notes that only five leaders of the autonomous regions bothered to attend the parade in Madrid yesterday.
El País also notes that the King has commented that the financial crisis needs unity to be overcome.

El País says that there are three key measures – To add liquidity to the banks in trouble, to recapitalise those entities in trouble, and to guarantee new debt from the banks until December 31 2009 with the objective of allowing new credits to businesses and the continuing functioning of the financial sector.
Público headlines today that the profits of the banks in Spain continue to rise despite the crisis.

There is plenty of coverage for Fernando Alonso who won his second consecutive formula one grand prix in Japan yesterday. The papers comment that the improvement of the R28 car has been notable.

There is a lot of coverage of the revelation that Seve Ballesteros has a brain tumour. El País says he has said he faces the most difficult game of his life.

ABC notes that the ex head of the Civil Guard, Mesquida, is still living in Civil Guard accommodation although he has not been working for them since April.

El Mundo reports on the father who went on hunger strike in demand that he could educate his children en Castellano is on the point of losing them. Carmelo González faces a demand for divorce which describes him as being ‘obsessed’ by the language policy of the Generalitat Catalan Government.

El País tells us that the state broadcaster, RTVE, is negotiating with the Ministry of Defence, to move their headquarters to an old shooting range between Madrid and Pozuelo de Alarcón.

El País notes that Madrid is the only region of the country facing cutbacks in university funding. The other regions are not cutting their current account spending according to the paper.

El País reports from Afghanistan where it says that NATO has killed a hundred Taliban. The paper says that 60 died in one fight and 40 in another with the international forces.
El Mundo says that Spanish soldiers have killed two Taliban in Afghanistan when fighting back against an attack on a convoy.

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