Spain economic crisis

9 Stories

Moms Undress to Fund a School Bus

Calendar may counteract Spanish austerity measure

(Newser) - From economic austerity to ... a semi-nude calendar? Yep, mothers in Spain have stripped down for a racy calendar in the hope of raising $57,000 to fund a children's school bus, the Telegraph reports. "I'll do anything for my child and If I have to undress, because... More »

Spain Temporarily Halts Evictions for 'Most Vulnerable'

Most vulnerable will not have to worry about losing homes for 2 years

(Newser) - Spain, where an estimated 350,000 families have lost their homes since the country's financial crisis began in 2008, will halt evictions for the most vulnerable for the next two years, the Spanish banking association AEB announced. It's not clear how the "most vulnerable" will be identified,... More »

Eurozone Unemployment Hits Record 11.6%

Greece and Spain see the worst of it

(Newser) - Unemployment in the 17-country eurozone hit a record high of 11.6% in September, official figures showed today, a sign the economy is deteriorating as governments struggle to get a grip on their three-year debt crisis. The rate reported by Eurostat, the EU's statistics office, was up from an... More »

Dow Plunges 200 on Bad Earnings

Stocks suffer biggest drop since June

(Newser) - Stocks plunged at the open today, with the Dow falling more than 200 points, sending it to its lowest level in seven weeks. As of 10:22am the Dow was down 206, while the Nasdaq and S&P were down 30 and 20 points respectively. The major cause for the... More »

Eurozone OKs Terms of Spanish Bank Bailout

Loan will be up to $122.9B

(Newser) - Finance ministers from the 17 countries that use the euro unanimously approved today the terms for a bailout loan for Spanish banks of up to $122.9 billion. The document, signed off by the "eurogroup" of finance ministers following a teleconference today, calls for strict monitoring of the banks... More »

Spain Rolls Out Painful New Austerity Measures

Taxes raised, benefits cut

(Newser) - Spanish Prime Minister Mariano Rajoy today announced tough new austerity measures that will reduce the country's budget deficit by $80 billion over the next two and a half years. Spain has been having a tough time meeting agreed-upon deficit targets, the New York Times reports, but yesterday eurozone finance... More »

Spain's Bonds Shoot to Scary Heights

But markets overall calmer amidst hopes of further rescue

(Newser) - The Spanish Treasury sold $3 billion in 12-month bonds today, but the price was, in the words of one economist, "brutal." The government was forced to pay a whopping 5.074% yield, up from 2.985% just last month, the New York Times reports. "The market is... More »

As Thousands Protest, Spanish PM Backs Austerity

'This is about solving the situation once and for all,' says Mariano Rajoy

(Newser) - Prime Minister Mariano Rajoy today defended his government's harsh austerity measures aimed at correcting Spain's grim economic forecast, one day after tens of thousands of Spaniards took to the streets in protest of his handling of the country's worst crisis in decades. Rajoy said the measures were... More »

Spain Sinks Back Into Recession

Unemployment tops 24%, officials committed to further cuts

(Newser) - Hot on the heels of Britain's slide back into recession , now Spain is officially in its second recession in three years, reports the BBC . Spain's National Statistical Institute said the economy shrank 0.3% last quarter, following a 0.3% contraction in the fourth quarter of 2011. As... More »

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