Not widely publicised, if at all, a new ministerial order by the Spanish government on July 9th apparently states that any EU citizen living in Spain for more than three months must prove they will not become a financial burden on the State by producing a job contract or documented evidence they have enough money in the bank to support …
Unemployment at record high
Unemployment in Spain rose by 53,500 people in the second quarter of this year when compared to the previous quarter, bringing the official total of those without work to 5,693,100. The official unemployment rate at the end of June stands at 24.6%.
Cataluña could be next for a rescue
Valencia was the first autonomous region to formally request a bailout from the Central Government, Murcia is likely to follow suit and now Cataluña appears to be on the verge of asking for financial aid from the government.
Spain bans short-selling for three months
Spain has banned short-selling of shares to try to limit price moves after markets fell quite sharply amid continuing fears the country may need a full-scale bailout.
Financial woes are not easing
Eurozone ministers have formally approved the €100 billion bailout for Spain’s ailing banks but the country’s financial woes have not lessened. In fact, they have got worse.
Two hackers arrested
National Police officers have arrested two hackers, members of the international group LatinHackTeam, in Madrid and Jaén.
Rail strike planned for August 3rd
The unions have convened a 24 hour rail strike (Renfe, Feve, Adif) for Friday August 3rd in protest at government plans to liberalise the rail sector by creating four separate management corporations for passengers, freight, maintenance and rolling stock.
IVA on cultural items to go from 8% to 21%
Tickets for the cinema, theatre, concerts, circuses and other cultural events and shows are set to rise after the announcement that IVA (VAT) on such things is to be increased from the current 8% to 21%.
IVA hike takes effect on September 1st 2012
The decision has been made. The increase in IVA (VAT) from 18% to 21% and from 8% to 10% will take effect from September 1st 2012. The 4% rate for the purchase of a first home will rise to 10% on January 1st 2013.
Spain to get €30 billion in July
Eurozone finance ministers have agreed to lend Spain €30 billion euros this month to help its troubled banks, the first instalment of the no strings attached Victory for the Euro package/bailout with more strings than an octopus marionette. A total bailout amount of up to €100 billion euros was agreed in June.