FINANCIAL NEWS
Good news from the financial markets as the Spanish risk premium falls to 234.8 basis points on Monday, reaching July 2011 levels. The Spanish stock market was down 0.81% and is approaching 9,700 points, while Milan fell by 0.24%, Paris 48%, the DAX 30 Frankfurt by 0.08%, whereas London rises 0.07%.
Following last week´s announcement that Spain is out of recession, the Governor of the Bank of Spain, Luis Maria Linde, believes that recent data suggest that Spain may be at the beginning of the economic recovery. President of the Eurogroup , Jeroen Djisselbloem , says that Spain should undertake further labour market reforms and believes that it will not extend EU aid to Spanish banks .
BFA – Bankia group attributed profit of 527 million through September, compared with a loss a year earlier, of which 362 million are exclusively Bankia.
The president of the Community of Madrid, Ignacio González, announced a tax that will be incorporated into the draft regional budget that will mean “savings” of 375 million euro to the residents of Madrid. The secretary general of the PP, María Dolores de Cospedal, said that the downgrade of Madrid is in line with the measures being proposed by the Government from next year, as the country heads towards a General Election.
The national association of funeral employers, PANASEF, will present their annual report on how the sector has been affected by the financial crisis. During the same press conference, they will also discuss the status of “the great forgotten: families and children” who suffer at the death of a relative.
LEGAL NEWS
Secretary of State for the EU in Spain, Iñigo Méndez de Vigo , reported “concern” to the U.S. ambassador in Madrid, James Costs, for allegedly spying on people in Spain, practices that , if true, would be “improper and unacceptable among partners and friendly countries”.
The Full Criminal Chamber of the National Court has confirmed their interpretation of the Strasbourg ruling on the so-called Parot doctrine, is applicable to other ETA prisoners in the same situation. Meanwhile, the secretary general of the PP, María Dolores de Cospedal , stressed today that once implemented, a permanent reform of the Penal Code could be retrospectively implemented, which may include a future clause that “no court outside will distort or apply differently Spanish criminal law”, thus allowing Spain to once again incarcerate ETA terrorists and other prisoners released under the ruling by the European Court of Human Rights.
A year after the tragedy, the judicial investigation to clarify the circumstances of the death of five youths in a Halloween party at the Madrid Arena on November 1 is coming to an end. Now the judiciary will decide on the next and appropriate course of action for those found responsible for a situation that resulted in the tragic deaths of party goers. Police presence and inspections have intensified after the tragedy, for which a special police unit has been created.
POLITICS
The full Congress will debate a bill proposed by the PSOE on Tuesday, which aims to clamp down on political corruption, in order to strengthen the prosecution of these behaviours.
The Ministry of Finance will publish the budget execution data until September on Tuesday, after the first eight months of the year in which the government deficit is expected to be placed at 47.6 billion euro, equivalent to 4.62% of GDP.
The General Committee of the Autonomous Communities meets for the first time in this period in order to study the regional impact of educational reform in a debate in which they can participate, without voting.
TRAGEDIES AND ACCIDENTS
At least six people died on Monday apparently having been poisoned following a methane gas leak in Pozo Emilio del Valle, near Llombera de Gordón. Images of pain, screaming and crying where how witnesses described the scene as family and friends of those who perished came together under the cloud of tragedy. Meanwhile, both the UGT and CCOO unions have called a general strike for coal miners for 48 hours as a tribute and mourning for their mining colleagues.
A 53 year old man stabbed and killed his 50 year old wife and his 10 year old son, before jumping from the balcony of their home and plummeting to his own death in Vila-real, Castellón.
STATISTICS
Performing Arts Audiences have fallen by 31.4% over the past five years whilst cinemas have seen a drop of almost 11 %, according to data released today by the SGAE group.
International Psychologists have warned that the unemployed today have a 34% chance of suffering from psychological problems, including depression and anxiety, more than double the 16% incidence of such conditions amongst people with work.
KEY EVENTS FOR TUESDAY
The National Statistics Institute (INE) publishes retail indices for September.
The Ministry of Employment published the amount of contributory pensions to October 1.
The Ministry of Finance publishes State budget execution until September.
The Ministry of Industry, Energy and Tourism publishes survey of the Spanish tourist movements (Familitur) that collects data on trips made by residents in Spain.
National launch of the Citroen Grand C4 Picasso.
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