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Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
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- USD weekly currency update- 27 May 2016
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- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
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- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Spain Bank Rescue "Bungled"
President of the World Bank, Robert Zoellick, has said how the reaction of the financial-market to the rescue plan for Spain's banks shows that it was bungled.
The announcement of a €100 billion-euro bailout for Spain failed to stop a rise in Spain's borrowing costs to a euro-era record last week.
With so much money allocated , "to have that being a negative story is amazing," Zoellick told a panel discussion in the Mexican resort of Los Cabos today. "It's because the execution was extremely poor."
International Monetary Fund Managing Director Christine Lagarde told the same panel that Spain needs to do more work on formulating its request for aid.
"There's clearly work in the making that need to be done," for instance in terms of giving exact numbers, Lagarde said. The IMF will monitor the package, being "honest and candid" she said.
Latest News & Stories
- Spain consumer prices drop 1.1% in May
- 'Tourists go home': Spain tourism surge brings backlash
- Facebook and Microsoft to install “megacable” between Spain and US
- Vodafone Spain to start offering Telefonica indirect fibre
- Spain arrests 30 suspected of laundering money in bitcoin centres
- Passenger flight dodges three drones before landing in Bilbao
- Almost 30% of Spaniards at risk of poverty or social exclusion
- Spain tops euro zone for political risk to the economy, says ECB
- 30 arrests in Spain for pay-TV piracy
- Spain's centre-right PP to strengthen position in election - poll