Spain

2:44pm

Mon June 11, 2012
Europe

Spain's Leader Calls It A 'Victory,' Not A Bailout

Originally published on Mon June 11, 2012 6:10 pm

Protesters rally against a bailout package for Spain in front of a Bank of Spain building in Barcelona on Monday. The demonstrators think the bailout will bring only greater hardship.
Josep Lago AFP/Getty Images

A day after getting approval for a financial rescue he vowed Spain would never need, Prime Minister Mariano Rajoy said it was his idea all along.

"No one pressured me into this. I pushed for it myself, because I wanted a line of credit," Rajoy said. He refused to call it a "bailout." He called it a "victory" instead.

Most Spaniards don't buy that. In a poll published Sunday, 78 percent of respondents said they have "little or no" faith in Rajoy and his ruling conservatives. That's just six months after they won elections in a landslide.

Read more

5:51am

Mon June 11, 2012
The Two-Way

'Relief Rally' Weakens As Markets Study Spanish Deal

Originally published on Mon June 11, 2012 11:07 am

  • NPR's Philip Reeves, reporting on 'Morning Edition'

After rising sharply earlier today, European financial markets have come off their highs as investors "question the logistics of the $125 billion bailout of Spanish banks and wonder ... whether Monday's gains in financial markets were nothing but a relief rally," Dow Jones Newswires reports.

Read more

5:27am

Sun June 10, 2012
Europe

What's Next For Spain's Bailout Plan?

Originally published on Sun June 10, 2012 1:50 pm

Transcript

RACHEL MARTIN, HOST:

This is WEEKEND EDITION from NPR News. I'm Rachel Martin.

Europeans woke up this morning with a couple of big fundamental questions looming over them. Have they saved Spain? And if not, is the eurozone heading for collapse? After weeks of denial, the Spanish government finally admitted what pretty much everyone else already knew: The country's banks need a bailout. The Spanish haven't said how much they need. But eurozone finance ministers had a long conference call yesterday and agreed they'd lend Spain up to $125 billion.

Read more

1:10pm

Sat June 9, 2012
The Two-Way

Spain, Eurozone Agree To 'Financial Support'

Originally published on Mon June 11, 2012 4:37 am

"The Spanish government states its intention to request European financing for the recapitalization of banks that need it," Spanish Economy Minister Luis de Guindos said at a press conference on Saturday.
Pedro Armestre AFP/Getty Images

Spain will ask, and European finance ministers will agree, to offer up financial aid for the country's struggling banks.

Spanish and eurozone officials announced their intentions after a three-hour emergency conference call on Saturday. If they make good on it, Spain will be the fourth – and largest — member of the 17-nation eurozone to receive outside help as Europe's debt crisis marches on.

Read more

4:08am

Sat June 9, 2012
World

The Young And The Jobless: Hopes On Hold In Spain

Originally published on Sat June 9, 2012 7:46 pm

Graffiti on a wall in Madrid reads, "We want to work, let the businessmen who have gotten rich from our labor pay for the crisis." Nearly 50 percent of young adults in Spain are unemployed.
Denis Doyle Getty Images

The crowd of job seekers at an unemployment office in downtown Madrid looks different than it did a few years ago.

When the housing market went bust, construction workers flooded the lobby. Now, labor reforms have made it easier for corporations to fire workers without seniority. So now young people, including those with an education, are unable to find work.

Jaime Garcia de Sola, a former intern at an investment bank, was one of those waiting in the unemployment line.

Read more

Pages