Spain Business Brief - Thursday June 4 2009
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By h.b. - Jun 4, 2009 - 1:16 PM
More EU funding for unemployment in Spain

The European Commission wants to bring forward the 2009 and 2010 payments to Spain under the European Social Fund, so that the Spanish Government can use the 2.3 billion € for the relocation of the unemployed.
Part of the money will go also in maintaining employment, and bringing forward the projects already proposed by both central government and that in the regions.

The opposition leader, Mariano Rajoy, has said that more news is to come from the financial sector soon. He made the comment when asked if he thought that there would be more government rescues in Spain, like that seen in the Caja Castilla La Mancha. He made the comments on the TVE television.

The Official Credit Institute, ICO, says its funds which the government has used to reach small businesses and the self-employed are apparently not reaching their target. The Institute has said that it will hand out 20 billion € this year of the 37 billion forecast. Banks prefer to give their own loans it seems, as they earn more interest than going via the ICO. This has led the Association of Self-Employed workers to describe the aid plan as a failure.

Iberia has warned that it will lose more workers if the economic crisis gets any worse. The company, which says that merger talks continue with British Airways but are on hold until the Autumn, has not closed the door to doing deals with other airlines. A statement from Iberia said it would be ‘very difficult’ for them to present numbers in the black in their accounts for this year, but that they would be concentrating on the needs of clients.

The Madrid region has broken with the national guidelines, and announced it is extending the incentives to companies for the purchase of new cars. The region is also keeping the incentives in place for top of the range and highly polluting vehicles which are not included in the plans in other regions of the country.

And finally,
Workers in Metal in Vigo are threatening an indefinite strike unless their demands are met by management. A day of protest there has again degenerated into violent scuffles with police. A Telecinco cameraman has been injured.

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