How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily brief -Friday 3 July 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Spain Formally Requests Bailout Funds From Europe
Spanish finance minister, Luis de Guindos, has today formally requested a bailout from its European partners to help recapitalize its ailing domestic banks burdened with bad property debts on their books.
Details are sketchy at this point and no amount has been specified in a letter to the head of the EuroGroup Finance Ministers, Jean-Claude Juncker.
It is expected that Spain will be seeking up to €100bn, although the terms and conditions of the bailout have not been finalized. Luis de Guindos expects to have them in place before the next meeting of the EuroGroup Finance Ministers on 9th July.
Coincidentally, the terms of the bailout to be released on or before the next meeting of the EuroGroup Finance Ministers, coincide with the launch of the ESM (European Stability Mechanism) – Controversial to investors as the mechanism favors repayment of bailout funds before any other debts, including government bonds, moving investors down the pecking order and increasing the risks of not receiving their money back.
Markets are still expecting Spain to require a full Eurozone rescue package much like Greece, Portugal and Ireland. Until the details of the bailout are released, markets are expected to keep on demanding higher risk premiums on government bonds.
- Insurance - Ibex Insurance
- Investments - Premier Pension Solutions SL
- QROPS and Pensions - Premier Pension Solutions SL
- Tax - Wincham Consultants Limited
Latest News & Stories
- Seville church website removes article on “curing” homosexuality
- UK and Spain grant most EU citizenships
- Spain sees unemployment fall for 5th straight month
- Spain brushes off Greek concerns as it hikes growth forecast
- Spain's León Airlines folds after just 8 weeks
- Spanish air traffic controllers call further strikes for July
- Orange Spain Launches Holiday Pre-Paid SIM
- 5 things Spain’s ‘gag law’ will stop you doing from today
- Spain new car sales up 23.5 pct yr/yr in June
- Ryanair petition calls for ban on Spanish ATC stikes