Spain's Rajoy Accused Of Receiving Illegal Cash Payments As Corruption Scandal Widens. Spanish unemployment leaps to new high of 26% with 55% of young people out of work. 5.97 million without jobs following prolonged recession and spending cutsIt is the highest level since measurements began in the 1970s Over past 12 months a further 691,700 people have fallen out of work There are now 1.8 million Spanish households in which no one is employedAnd financial experts warn 'we haven't seen the bottom yet' By Daniel Miller Published: 13:28 GMT, 24 January 2013 | Updated: 08:59 GMT, 25 January 2013 Spain's unemployment rate has soared to record levels with a shocking 55 per cent of young people now out of work and experts warning worse is to come.
The jobless total rose to 26 per cent in the fourth quarter of 2012, equivalent to 5.97 million people according to the National Statistics Institute and up from 25 per cent in the previous quarter. It is the highest level since measurements began in the 1970s as a prolonged recession and deep spending cuts left almost six million people out of work at the end of last year. Anti-austerity strikes sweep southern Europe.
Leading MEP caught up in Catalan 'independence' row. Spain unrest reignites euro crisis fears. Spanish Prime minister gives strongest hint yet that Madrid will take EU moneyCountry could be relegated to junk status by credit rating agency By Daily Mail Reporter Published: 16:51 GMT, 26 September 2012 | Updated: 16:55 GMT, 26 September 2012 More than £25billion has been wiped off the FTSE 100 today as Spain moved closer to asking for a £238billion bailout. The index of the UK's most capitalised companies shed nearly 2 per cent of its value, and as the market drew to a close, it was trading down 107.4 points at 5,752.29.
The market sell-off was triggered in the main by uncertainty over Spain's economic future and whether it will accept the terms of a £238billion eurozone bailout. Opposition: Peaceful demonstrators marched to the Spanish parliament to protest against austerity measures, but there were clashes with police elsewhere in the city Markets across Europe reacted following anti-austerity protests in both Athens and Madrid. Riot police clash with anti-austerity demonstrators in Madrid after thousands take to the streets to protest cuts. Fury over cuts to social services and tax hikesAccess to parliament blocked after protesters plan to 'occupy Congress'Police launch baton-charges and are accused of beating protesters Teetering Spain is on the verge of getting a bailout from Europe By Mail Foreign Service Published: 20:04 GMT, 25 September 2012 | Updated: 08:20 GMT, 26 September 2012 Anti-austerity demonstrators clashed with riot police in Madrid last night.
More than 1,000 officers blocked off access to the parliament building after protesters vowed to ‘occupy Congress’ in the heart of the Spanish capital. Police baton-charged the crowd and there were reports that protesters were being beaten by officers. Scroll down for video Casualty: A man is seen with blood gushing from a head wound after members of the Spanish National Police baton charged anti-austerity demonstrators in Madrid Beating: Riot police prepare to strike a young protestor with while a girl is hauled away. Spain Is Reluctant To Make More Cuts. Catalonia, Spain's biggest region, asks for £4bn bailout from Madrid as bank customers withdraw money from accounts. Spain's regions have combined debt of £115bn, with Catalonia owing £33bnGovernment fund to help rescue the regions will have just £14bn in capitalIt is increasingly likely that Spain will have to ask for a eurozone bailout By Leon Watson Published: 18:35 GMT, 28 August 2012 | Updated: 08:08 GMT, 29 August 2012 Spain's debt-ridden region of Catalonia will seek a rescue bailout of £4billion from a central government fund, it emerged today.
The northeastern region, which has Barcelona as its capital, became the third region after Valencia and Murcia to officially ask for aid. Many of the 17 semi-autonomous regions are struggling with the recession, the country's second in three years, following a real estate crash in 2008 that has pushed the unemployment rate to near 25 per cent. Spain's Prime Minister Mariano Rajoy was meeting European Council President Herman van Rompuy on Tuesday for talks on the crisis, which is set to see the region of Catalonia ask for a bailout.
Cash-strapped Spanish Baroness hopes Constable painting will net her £25m. Carmen Thyssen-Bornemisza said crisis was 'also affecting collectors'Bought British painter Constable's The Lock for £10.8m in 1990 By Lee Moran Published: 09:34 GMT, 30 May 2012 | Updated: 13:24 GMT, 30 May 2012 A cash-strapped Spanish Baroness is hoping one of her prized Constable paintings will fetch £25million at auction so she can 'ease her cash flow situation'. Baroness Carmen Thyssen-Bornemisza, who founded the Madrid art museum bearing her surname, said her country's recession was 'also affecting collectors'. It had forced her, she said, to sell British painter John Constable's The Lock - finished in 1824 and the last of The Stour Series, which includes his famous work The Hay Wain, to be privately owned.
For sale: The Lock, by British painter John Constable, is up for grabs at Christie's auction house in London in July Reluctant: Baroness Carmen Thyssen-Bornemisza said she did not want to sell her Constable painting A rural church is visible in the distance. The New Castles of Spain: Victims of the Eurocrisis - Photo Essays. Spain's White Elephants Feel the Pinch of Economic Crisis.
The City of Arts and Sciences rises from the edge of Valencia's center like a modern-day Xanadu. Designed largely by native son and internationally renowned architect Santiago Calatrava, its marvelous collection of spiny, bleached white buildings has been a major tourist attraction in this Spanish port city ever since it was inaugurated in 1998. But more recently, the complex has lost some of its luster.
Thanks to the crisis and, more recently, to an opposition party's campaign against Calatrava and the regional government that contracted him, the gleaming City of Arts and Sciences has become a symbol of the excess of Spain's go-go years. And it's hardly the only one of its kind. From cultural centers to transportation hubs to sporting arenas, large-scale urban projects like the City of Arts and Sciences were some of the showiest results of Spain's boom. The origins of the craze for lavish provincial construction lie with the Guggenheim.
To an extent, the formula worked.