Spain’s cash-strapped Socialist government is poised to emulate the UK and increase taxes on the rich, reversing its policy of tax cuts and prompting protests from the conservative opposition.
The impending U-turn - designed to plug the gaping budget deficit arising from the global economic crisis – was signalled this week by José Blanco, public works [...]
Spanish property owners are restructuring debt with their creditors throughout Europe as the recession hammers the cash flows and values of commercial property.
A local business school recently estimated Spain’s glut of newly built homes at around 1 million, suggesting that this is the biggest problem facing the Spanish property market today. Now a new report from the Ministry of Housing confirms that Spain’s property glut is indeed monumental, even if it has not yet hit the 1 [...]
