About: Madrid

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Development Policy 11-06-2013

The 2014-2020 EU Aid Budget: Enough to do the job? – Madrid 2013

Europe is going through one of the worst economic and financial crisis in decades and governments across the continent have implemented tough austerity measures. In Spain, where cutbacks have been particularly tough, the government recently decided to reduce the budget for development aid by 80%.
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Euro & Finance 30-01-2013

Good results drag Spain away from bailout territory

Madrid announced on Tuesday (29 January) that it had beaten revenue targets for 2012 as tax hikes offset a shrinking economy, moving the country further away from an EU-IMF sovereign bailout which seemed unavoidable a few months ago.
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Economy & Jobs 11-06-2012

Spain joins ‘the Group of Debt’

It is not a bailout, but a nearly condition-free loan. This is the message sent by the Spanish government after euro zone finance ministers agreed on Saturday to lend Madrid up to 100 billion euros for recapitalising its banks. Following weeks of denying the need for financial assistance, Spanish PM Mariano Rajoy gave in to international pressure. He requested a rescue package that he portrayed as a triumph, but which caused outrage among Spanish citizens.
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Economy & Jobs 11-04-2012

Spain denies bailout talks

Is Spain next in line for a Greek style bail-out? Spanish Finance Minister Luis de Guindos does't think so, at least not for the moment. Spain is at the center of a financial storm as markets pushed the cost of its bonds to soar above 6%. In a bid to calm the markets and keep Brussels happy, the Spanish government on Tuesday announced a 10 billion euro slash in its public spending. The European commission welcomed the move, which comes on top of 78 billion euros in cuts presented in March.