Spain Papers Review - Tuesday October 14 2008
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By h.b. - Oct 14, 2008 - 9:48 AM
Finance dominates again – as you would expect.

Zapatero guarantees the protection of the bank with 15% of the national wealth – headlines El Mundo today. The paper says he has added 100 billion € in backing to the end of the year in addition to the 50 billion already approved.
The IBEX and Wall Street respond to the European plan with historical increases of more than 10%.
The paper notes the Euribor has fallen also, bringing some relief to mortgage owners.
Although Pedro Solbes says it won’t be needed, an extraordinary cabinet meeting allows for the future partial nationalisation of Spanish banks if necessary.
El Mundo says Rajoy has been called by the Prime Minister to be informed of what’s going on, but the PP leader has said the PM has his support provided everything going on is transparent.
El Mundo has an interview with Lula de Silva today. He tells the paper that we cannot allow the virtual economy to be more important than the real one.
El Mundo also reports that Gordon Brown has taken 60% of the Royal Bank of Scotland and sacked his directors and frozen the wages of its executives.
El País has a large photo of Zapatero with other leaders and headlines that the stock markets have applauded the rescue plan.
ABC says that Europe has spent 2.5 billion to save the banks, and the stock markets have rallied. The paper says that Zapatero will today ask Rajoy for his unconditional support.
Público calls yesterday resurrection Monday, and notes that the European commitment to save the banks has tripled that put up by President Bush.
El Periódico de Catalunya says that the European help is in fact four times that in the United States.
The paper notes the crisis has led to an 8.7% reduction in the use of private transport in the Barcelona area.
La Vanguardia headlines ‘An injection of optimism’.

ABC has a picture of poverty which looks straight out of the third world. In fact the picture was taken yesterday just 13 kilometres from the Puerta del Sol, the centre of Madrid. The heavy rains have been felt hard in the shacks where many Romanian gypsies are living around the capital, and as ABC notes their population just keeps on increasing.

ABC notes that Miguel Ricart, is to see his sentence revised. The killer in the Alcácer case, a famous affair in Spain, will now be kept in prison for an extra 15 years as the so-called ‘Parot doctrine’ is to be applied in his case.

The story has been around for a day or two, but El Mundo today puts that fact that England is refusing to play a friendly match at the Bernabeu stadium in Madrid on the front page. England is upset a racist behaviour at the ground four years ago. This has brought a response from the Spanish Football Federation which says the public at the Real Madrid ground is excellent, and they are considering finding another team to play against on February 11.

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