Tens of thousands of Spaniards protested in the streets of cities across Spain Saturday, rising against the country’s austerity measures in a run-up to the one-year anniversary of the start of a movement that spread across the region. Tens of thousands of protesters gathered in Madrid’s central Puerta del Sol plaza, the birthplace of the […]
Spain in Recession
Posted April 30th, 2012 at 5:05 am (UTC-5)
Spain’s economy has slumped into a recession. Spain’s National Statistics Institute data showed Monday that the country’s economy shrank 0.3 percent in the first quarter of 2012, after a similar contraction in the final three months of last year. The news comes as Standard & Poor’s agency downgraded the ratings of several top Spanish banks, […]
S&P Cuts Spain’s Credit Rating
Posted April 26th, 2012 at 7:50 pm (UTC-5)
The Standard & Poors agency has cut Spain’s credit rating Thursday two notches, saying the outlook is negative. In reducing the country’s sovereign debt rating from “A” to “BBB+,” S&P cited what is calls the risk that Spain’s debt could expand while the economy shrinks. The financial rating agency predicted that the Spanish economy will […]
World Bank President Calls Oil Company Nationalization “Mistake”
Posted April 19th, 2012 at 12:35 pm (UTC-5)
The President of the World Bank, Robert Zoellick, criticized Argentina’s plans to nationalize its largest oil company. Robert Zoellick spoke Thursday in Washington at a news conference. He cautioned policymakers against moves based on populism and protectionism that could hurt the economy. The Argentine government announced plans earlier this week to take over YPF, an […]
World Bank President Calls Oil Company Nationalization “Mistake”
Posted April 19th, 2012 at 12:10 pm (UTC-5)
The President of the World Bank, Robert Zoellick, says Argentina’s plans to nationalize its largest oil company are “a mistake.” Robert Zoellick spoke Thursday in Washington at a news conference. He cautioned policymakers against moves based on populism and protectionism that could hurt the economy. The Argentine government announced plans earlier this week to take […]
Spanish Workers Protest Labor Reforms
Posted March 29th, 2012 at 9:50 am (UTC-5)
Spanish workers are staging a boisterous 24-hour general strike to protest the government’s sweeping labor reforms and a new round of austerity measures the government plans to unveil on Friday. Protests in Madrid Thursday disrupted public transportation and factories and sharply curtailed flights into and out of Spain. The country’s Interior Ministry said at least […]
Spanish Unions Holding General Strike Thursday
Posted March 29th, 2012 at 5:35 am (UTC-5)
Spanish unions are holding a general strike a day before Prime Minister Mariano Rajoy announces a new austerity budget to meet strict guidelines set by Eurozone leaders. Spain’s Interior Ministry says at least 58 people have been arrested, largely for attempting to disrupt bus service early Thursday in Madrid. The strike is impacting public services, […]
Spanish Unions Holding General Strike Thursday
Posted March 29th, 2012 at 2:25 am (UTC-5)
Spanish unions are holding a general strike a day before the Prime Minister Mariano Rajoy announces new austerity budget to meet strict guidelines set by Eurozone leaders. Some strikers attempting to disrupt bus service were detained police early Thursday in Madrid. The strike is expected to have limited impact on public services including bus, rail, […]
Spanish Judge Acquitted in Franco-Era Probe
Posted February 27th, 2012 at 8:15 am (UTC-5)
Spain’s Supreme Court has acquitted judge Baltasar Garzon of overstepping his authority when he ordered an investigation into the disappearance of more than 100,000 people by forces loyal to late dictator Francisco Franco. Garzon had been charged with violating a 1977 amnesty on political crimes. He argued that the atrocities were crimes against humanity and […]
Internationally Acclaimed Spanish Judge Disbarred
Posted February 9th, 2012 at 4:55 pm (UTC-5)
Spain’s Supreme Court has disbarred a crusading judge known for going after dictators and others accused of violating human rights. Judge Baltazar Garzon was disbarred for 11 years, after being found guilty of illegally recording conversations between defense attorneys and their clients. The high court said that such actions “these days are only found in […]
