Class Economy Premium: September 2014

Tuesday, September 30, 2014

Spain is the second highest foreign debt after the United … – The País.com (Spain)

The IMF managing director, Christine Lagarde. / EFE

The United States alone exceeds Spain as a country with a larger volume of debt to external creditors dependent. American foreign debt is the most substantial in the world, with about 5.5 billion dollars at the end of 2013, while Spain is next with 1,400 million. But there is a difference in weight between the first and second: for the USA, these foreign credits account for 34% of its gross domestic product (GDP), while for the Spanish accounts for 103% of its economy. The data comes from Chapter 4 of the new global report estimates that the International Monetary Fund (IMF) presented next week in Washington and warns of the need to further reduce such imbalances.

“Systemic risks from global imbalances have declined,” admits IMF, but “reduce external loans creditor economies requires improvements in the current account balances and stronger growth.” But this need for a more balanced economic expansion (and strongly backed by external or too dependent on domestic demand) affects not only the deficit countries, but also those who have “margin thanks to its powerful surpluses” warns organism week prior to their fall general assembly.

The Fund has already urged Germany, part of this group, without much success to boost their investments to boost the economy.

In the list of the world’s biggest creditors are Japan ($ 3 billion) and China (1.6 billion), which before the great financial storm in 2006, occupied the seventh place in the same classification. Germany, which was the second this year, ended 2013 as the third great world creditor, with $ 1.6 trillion foreign rendered.

the United States and Spain, however, were already the most indebted abroad before the crisis. The IMF says that drastic cuts in the economic outlook of the biggest post-crisis debt reduced value of the assets in them, something that despite imply a negative effect on the country’s wealth, it also means a lower value for their foreign loans, representing a capital gain. “USA was unique in this: despite being the most indebted and have a great downward revision of growth prospects, the value of assets increased due to the concern for finding safe havens, implying a capital loss in its international investment position. “

The global imbalances have declined by about a third between 2006 and 2013, as some large current account deficits, such as USA, or surpluses, such as China have been narrowed, but “surpluses in some countries of the hard core of the eurozone, however, have remained large,” says the Fund, also in emerging markets have deteriorated.

More public investment in infrastructure

The IMF, which is facing its assembly with fully standing and emerging powers such as Brazil euro zone into recession, the report also addresses global perspective the need to rely on public investment support infrastructure. “The borrowing costs are low and demand is weak in advanced economies and many emerging markets and developed economies there are limitations in infrastructure,” the report said.

The problem with the recipe is of the disparate scenarios. Spain, for example, leaves behind a infraesutructuras time investment that will be remembered words linked to excess and waste, as many great works have shown then unnecessary, very iconic images, including the Castellón airport not it has been brand new.

“An increase of 1% of GDP in infrastructure investment increases the level of output around 0.4% in the same year and about 1.5% in the next four years, “he said at a press conference Abdul Abiad, deputy head of the Research Division of the IMF.

The IMF proposal adheres to countries with” special needs “in public infrastructure, which are an “indispensable contribution” to economic output, which is also highly complementary with other contributions such as employment and (no corresponding infrastructure) private capital.

In this regard, the institution emphasizes that is “difficult to think of a production process in any sector that is not dependent infrastructure” and emphasizes that any deficiency is felt quickly. “Energy Cortes, inadequate water supply or rough roads adversely affect the quality of life of the people and impose significant for the work of enterprises barriers,” he says.

Montoro delivers the State Budget for 2015 in the … – The País.com (Spain)

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Montoro, Tuesday in Congress. / The country-LIVE! / Álvaro García

Neither staff costs or heading for all ministries together equal the invoice that the Government intends to pay only for the interests of the public debt, which in 2015 will exceed 100% of the Gross Domestic Product (GDP) for the first time in more than a century. The State Budget (PGE) provide a total of 35.490 billion euros for these financial costs, 12% more than the 2014, which is an average of 100 million euros a day. The improvement in the markets, which have been drastically reduced in the past year profitability is asked to put their money in bonds and Spanish lyrics, does not offset the increase in public liability in the accounts presented Tuesday.

The government had budgeted 36,616,000 for 2014 interest in the accounts submitted last year, but Economy Minister Luis de Guindos, moved last week that the Treasury would achieve savings of 5,000 million compared to the figure, exactly the same amount that was saved last year.

In addition, the economic and financial report accompanying the PGE states that “the fall in interest rates on new issues ability to close the year with a ratio of GDP in interest on terms similar to the previous “national accounting exercise, which would be 3.25% with a cash basis. In national accounting, interest expense amounted to 31.650 million, which would be 2.90% of GDP.

is a mouthful to be only the maintenance of the debt and that, despite the high level, has improved in relative terms: the average rate of the securities issued by the Treasury last year stood at 1.74% until August, while the average debt in circulation-that words, including the emitted this year amounted to 3.59%, which was made possible though the average life of the bonds issued by the state have increased.

Spain needs to keep costs moderate in view of the expected escalation of public debt, which surpassed one billion euros for the first time in history, according to data for the month of July, which are the most recent. And its relation to GDP will also increase despite the new methodology used by the National Statistics Institute (INE), by European mandate for the whole EU, increases the volume of the national wealth and, therefore, has now reduced by two percentage points the weight of debt on it.

With these new estimates, public debt in 2013 passed 94.4% to 92.1% of GDP. And earlier this year would be around 96.5%. To end the year, the government now estimates following the modification that the liability will end on 97% of GDP when, to date, expected to close the year at 99.5%

In 2015 the Treasury market prompted 665 million every day

Weight this does not prevent the liability exceeds the barrier psychological of 100.3% of GDP in 2015, which means that Spain will appeal to the markets in 2015 by an amount almost coming. And the Treasury expected to auction 242 765 000, which is a record if the year 2012, in which the banking bailout charged with issuing 40.000 million excluding extraordinary. This 2015, the state placed 665 million a day.

Of this total, most serving to renew maturing debt. Net (the difference between all securities that are issued and maturing) amount to 47,000 million, representing a reduction of 14% compared to the forecast for this year, which will be about 55,000 million a year ago while borrowing had budgeted 65,000 million.

the investment community, playing infiltrated by stimulus measures from the European Central Bank (ECB), seem willing to lend money to Spain, in five-year notes came to pay a lower than the United States in the secondary market, where you buy and sell debt securities issued and interests.

This Tuesday the risk premium, which is the differential of interest paid by bonds 10 years in Germany versus the rest, it narrowed in the Spanish case of 125 basis points (1.25 percentage points) to 119, a sign that, despite political uncertainties, the Spanish debt is whetting the appetite.

The state budget for Andalusia grow 260 million – abcdesevilla.es

The Board counters that does not comply with the statute and does not rule out other remedies

Andalucía is the region with the highest percentage of actual investment in the State Budget (PGE) next year, concentrating, with 1,958 million euros, 17.4% of the 11,267,000 appropriated for Spain in this chapter. The figure represents an increase in government investment in 260 million, up 15.3% on the PGE for this exercise, where the cost was 1,697 million euros, 17.3% of the state total 9.786 million .

The community is one of three state investment exceeding 10% by 2015, with Castilla y León (15.5%) and Galicia (12.3%). In addition, the percentage of the investment is for the second year a few tenths below 17.8%, which is the population weight of the region in the whole of Spain and, according to the Andalusian Statute, should determine the number of investment PGE in the region

The percentage of state investment marks the third provision of the reformed Statute and approved in 2007, but no government has completed. nor chaired by José Luis Rodríguez Zapatero to 2011, or heading after Mariano Rajoy. The first left duty, according to estimates by the Board and the Government, 1,500 million undrawn investment under budget. If Rajoy rozarían the 890

Although no government has fulfilled this fact to the Board yesterday served to encourage confrontation with Rajoy and the thesis of grievance. The president of the Board, Susana Díaz, said the PGE are ‘insensitive’ Andalusia, which “do not give what you ‘. The regional government spokesman, Miguel Angel Vazquez, abounded in the region has received Rajoy «2.202 million less than average investment ‘with Zapatero.

In line with the general coordinator of IUCA, Antonio Maíllo, who believes that PGE ‘reward’ communities of PP and attest to the “hostility” of the expressed central executive to Andalusia.

The additional provision of the Statute, was valid only for seven years, so that is not current accounts for 2015, despite which Board warned that if not met will resort to the courts. In the case of PGE, four tenths of a failure of the Government for 2015 represent 47.5 million, compared to an investment in the region of 1,958 million and which can be extended, as noted yesterday PP parliamentary spokesman, Carlos Rojas, in the passage through Congress. The figure ‘it exceed broadly, “he said.

Anyway, PP sources recalled yesterday a ruling by the Constitutional Court in an action brought by Catalonia on the grounds that State investment investment did not meet that marked its Statute. The decision, they said, indicated that the PGE are above any statute and so the government must meet criteria only general distribution. However, they add, the state investment in times of crisis has been in the last two years in similar numbers to the Andalusian population weight.

Therefore, Rojas claimed to Board leave “a confrontation that is not supported by any site”, considering that the 2015 state accounts “are committed to economic growth, employment and infrastructure.” Hence, the popular understanding that these budgets are to consolidate the recovery in economic activity, to collect a tax cut for Spain and increased investment in 260 million for Andalusia.

Spain is the second country with more debt – 20minutos.es

Stock Image of 500 euro.

Spain is the second country with the largest foreign debt, which exceeded 1.4 billion in 2013, exceeded only by the first global economy, the United States , as reported by the International Monetary Fund (IMF).

In the case of the United States represents only 34% of its GDP

This represents 103.1% of gross domestic product (GDP) Spanish well above the 69.7% of GDP in 2006 representing.

The United States leads the overall standings with $ 5.7 trillion of debt even if only represents 34% of GDP.

After Spain, next in the list of debtors to the outside Brazil, Italy, Austria, France, India, Mexico, Turkey and Poland.

The data were published Tuesday in the report on debt and global deficit IMF, which precedes its report flag, “Perspectives Global Economics”, to be presented next week in Washington and in which update their forecasts in the framework of the annual meeting of the organization led by Christine Lagarde.

But, The Fund provides a positive note to the situation of the Spanish current account balance , whose ranking has gone from having a large negative balance into surplus.

has gone from having a large negative balance into surplus

If the hole in 2006 amounted to 111,000 million, in 2013 became surplus to close at 9.050 million.

In contrast, the largest creditors in the world in 2013 were Japan and China with a positive net foreign assets of 3.06 and 1.69 billion dollars each.

In general, the Fund noted that global imbalances in terms of trade and capital flows have been reduced in recent years, but warned that there were “largely “as a result of low demand for deficit countries after the financial crisis.

The state will provide 13.2 million euros monthly to the Church … – The Progress

The State delivered monthly to the Catholic Church 13.26 million euros in 2015 (159.2 million per year), in advance of 0.7% of the total tax liability on the income of natural persons (PIT) taxpayers to check the box of the Church.

This is reflected in an additional provision of the Bill of State Budget (PGE) for next year.

According to the aforementioned additional provision on ” system review tax allocation to the Catholic Church, “the 13.26 million that will be delivered monthly account are the amount the state must assign by applying another arrangement, in this case 2007 budgets

In the 2007 accounts that the Government set from 1 January of that year and “indefinitely” and the Agreement between the Spanish State and the Holy See on Economic Affairs (dating from 1979), the State would allocate to the support of the Catholic Church 0.7% of the total tax liability on the income of natural persons (PIT) of taxpayers who express a wish to that effect.

According to the bill of the budgets of 2015 delivered today in the House of Representatives, before November 30, 2016 a provisional liquidation corresponding to 2015 allocation will be made, and the final settlement is made before April 30 , 2017.

In both settlements, once made, shall proceed to regularize the two sides, one way or another, the existing balance, the text ends.

Pensions will rise in 2015 low of 0.25% – The New Spain

EP / Madrid Contributory pensions will rise by 0.25% in 2015, the minimum set by the last reform of the government, according to the draft Law of State Budget (PGE) for next year, which was presented Tuesday at the Congress of Deputies.

This appreciation, in line with last year, and taking into account the forecast increase in the number of pensioners and the variation of the average pension, the Government provides for expenditure of contributory benefits of 115,669.23 million euros, 3.2 % more.

Adding contributory and non-contributory benefits and passive classes to allocate spending for Social Security will be 131,658.93 million euros, representing an increase of 3.3% over 2014 .

So, in the non-contributory level, The credit for the year 2015 for old-age pensions and disability amounted to 2242.59 million, excluding the Country Basque and Navarra. This spending 0.25% appreciation is also included.

Lower the contribution to minimum pension supplement

The contribution of the state to finance additions minimum pension will be 7,563 million euros, including management fees, down 0.9%.

In the Passive Class System of the State in which the pensions of officials are integrated, the planned expenditure is 121.970 million euros, 4.7% more than the initial budget of 2014.

earners Aids Welfare Fund (FAS) who have chosen not to join non-contributory pensions, has budgeted an amount of 10.89 million euros.

Under the heading Pension War pensions and allowances those who have incorporated their origin in the Civil War. For the year 2015, appropriations for this heading amounted to 214.89 million euros.

The biggest expense in retirement

By type pension, the pension expense are most assume, with 80816.3 million euros, followed by widowhood (20776.6 million), disability (12028000), the orphan (1762.6 million) and those for family members (285,400,000).

In addition, the allocation in the Budget 2015 situations protect maternity, paternity, risk during pregnancy and risks during breastfeeding fell by 3.7% to 2098.2 million.

Also, will go a total of 4942.7 million , up 1.3%, for the payment of allowances for temporary disability benefits granted by the Social Security through managing bodies or sick leave by mutual derived from common diseases or professionals, not labor or accidents.

The Government states that in recent years there has been a marked decrease in spending on this benefit , but that next year an increase of expenditure is estimated consistent with the evolution provided employment.

In addition, for the next year is a credit to the expected cost of benefits for cessation of activity of the self in the amount of 11 million euros.

entitlement spending falls wage guarantee

Finally, the program Benefits Wage Guarantee includes pay to the workers of both the unpaid wages due to insolvency suspension of payments, bankruptcy or insolvency proceedings of employees, as of the compensation fixed by a judgment or administrative decision in favor of those grounds for dismissal or termination of contract.

The budget for 2015 allocated to these activities totaled 1,064 million euros, 22.7% less, of which 1036.5 million related to the payment of benefits under the Wage Guarantee Fund (Fogasa).

The keys to the Budget 2015 – The País.com (Spain)

Cristobal Montoro and Currás Marta, in the presentation of the Budget. / Chema Moya (AP)

The Treasury rate the State Budget for 2015 presented on Tuesday as a recovery to consolidate accounts. For this, the Government increased public investment first seen since the outbreak of the crisis, in 2008 Here you can see the main features of the project.

The public debt exceeds 100% of GDP : Budgets keep the provision that the liability of all the government for the first time exceed 100% of GDP in 2015 also to cover net borrowing maturities and pay, the Treasury must borrow markets 242.765 million euros, the equivalent of about 665 million euros a day. Interest expense for the payment of the public debt amounted to 35.519 million, 3% less, although this does not prevent return to be the largest expense item nonfinancial budgets ( read more … )

available Expenditure of Ministries: The item amounts to 34,526,000, the 0.2% compared to 2014, regardless of the contributions to Social Security, the Public Service of Employment and Fogasa and the financing of certain costs of the electricity system, the Plan GROW and digital television reantenización . terrestrial (DTT)

Hacienda confident that allow economic improvement levy a 20% increase in companies

More investment in infrastructure: The infrastructure spending will be 8.8% higher than planned in 2014, which also marks the first increase in this heading includes budgeted by the State and public undertakings (as ADIF, or SEITTSA ENAIRE) since the crisis erupted in 2008 According to the accounts presented by Finance major infrastructure investments will amount in 2015 to 9,469,000 compared to 8,706,000 established in 2014, by increasing the AVE works ( read more … )

Minimum raise pensions. Pensions are were revalued in 2015 by 0.25% for next year. This increase is the minimum provided for in the new update system benefits which came into force in 2014 and, for the first time, the CPI dissociated. Also, it is in line with last year. 2017 is expected to maintain this slow rate of increase. The budgets include an allocation of 115 669 000 euros to pay contributory benefits, 3.2% more than budgeted for 2014 ( read more … ).

Less spending on unemployment: The government allocated 25.002 million euros to pay unemployment benefits next year, which is 15% less compared to the budget of 2014 Active employment policies are endowed with 4746.36 million, 16.5% more than last year ( read more … )

Transfers communities also grow. Government payments to autonomy resulting primarily from financing system will grow 7.8% this year compared to 2013, to 22.772 million euros. Resources for municipalities will also increase, in this case 2%, up from 16.454 million euros ( read more … )

Increasing AVE projects account for most of the rise in investment

Catalonia, the most affected by cuts: Public investment grows in all communities after years of hard cuts, although progress is not sufficient to recover what was lost since the government began implementing the scissors to spend. The autonomous region’s penalized by cutting investment in these four years of government of Mariano Rajoy is Catalonia, a decrease of 57.9%, which was relegated to one of the last positions in investment per capita ( read more … )

More money for education. The Education allocations rise by 4.5% to 2.273 million euros, and includes provision of 142.63 million for the implementation of educational reform. Scholarships and grants for students are provided with 1,469.6 million, 250 million over its 2014 contribution Culture policy is endowed with 749.04 million, 4.3% more.

Defence and Foreign: The Ministry of Defence will have 5711.63 billion, 1% more than in 2014 Foreign, meanwhile, will have 1,043 million, excluding prior period obligations, representing an increase of 4.9% compared to 2014 A foreign policy 1419.88 million will go

Personnel expenses elude cuts. The cost of State personnel increased by 1.6% to 16,046.46 million euros, due to the partial recovery of the extra pay of 2012 and an increase in the financing of the mutual funds. Although wage freezes for public workers

Recovery of income. The consolidated non-interest income (including the State, Social Security, autonomous agencies, state agencies and public) agencies reach 279,740 million euros, 5.1% more. After the transfer to local authorities, the figure stands at 133,712,000, exceeding 3% Advance Payment of 2014

Collection tax. The Government very optimistic about the development of tax revenues in 2015 before assignment to local authorities, will reach 186.111 million, 5.4% more. VAT is the fastest growing, with 7.2%, and provide 60,260 million. The personal income tax revenue increases 0.6% despite tax reform that lowers rates, leaving its expected revenue 72,957,000. Revenue from corporate income tax advances by 20.4% improvement in the economy, to 23,577,000. Meanwhile, revenues from excise taxes grew by 4.4%, to 19.894 million euros.

Pensions will rise again in 2015 low of 0.25 … – 20minutos.es

The Government expects to receive in 2015, 6% more than this year raising taxes and contributory pensions will rise to a minimum of 0.25%. This is stated in the draft Law on the State Budget for 2015, which is explained Tuesday the Minister of Finance and Public Administration, Cristobal Montoro , in the Congress of Deputies.

In traditional introductory press conference, the minister has insisted that the accounts do an “effort to give back to society what it has given ” and having an objective Specifically: “Grow and create jobs.” Montoro has indicated that PGE, which received the green light Ministos Council last week, include “tax cuts on individuals, businesses and families.”

Montoro ensures that PGE include “reducing taxes on individuals, businesses and families,” consolidated income 2015 amounted to 298,317.51 million budget while the forecast noninterest income is 279,740.16 million euros, an increase of 5.1% compared to 2014 In contrast, consolidated expenditure budget amounted to 440,074.74 million and funding for non-financial transactions amounted to 315,503.50 million euros, up 0.4%.

39.9% of revenue, 111,600 million, is tax collection , 6% more than in 2014; 44,156,000 shall be for indirect tax . Revenues from social contributions to social security and pension rights fees will rise next year to 132,826.92 million. Contributory pensions, meanwhile, are revalued 0.25% a year, the minimum required.

The total allocation for excise that the State expects to enter 2015 stood at 19,894 million, 4.4% more than in 2014 Within that, grow revenue from alcoholic beverages (792 million euros, up 1.8%) and snuff (6.398 million euros, 0.5% more). The collection scheduled for income tax will drop 0.6%, the income tax will increase 20.4%, and income from Tax will grow 7.2%.

Money frozen for senior and Casa del Rey

In addition, the Government will allocate a total of 25,002.4 million euros to pay unemployment benefits next year, which is 15% less compared to the budget of 2014, when he was assigned to the item just over 29,400 million euros. Investment in infrastructure will be noted in 2015 its first increase since the start of the crisis, as it will grow by 31.9% to 11,490 million euros added.

The PGE remain unchanged wages of senior executive and high institutions. The Prime Minister, Mariano Rajoy will keep his salary frozen for the fourth year in the 78,185 euros in 2015, while his ministers also receive fourth consecutive year 68,981 euros. In government, the vice president Soraya Sáenz de Santamaría receive a total of 73,486 euros.

All these amounts will be divided into twelve monthly payments and not entitled to overtime pay. The most charged public office in 2015 will chair the Supreme Court and the General Council of the Judiciary, Carlos Lesmes, who will have a fee of 130,152 euros. Very close to that amount the president of the Constitutional Court, Francisco Pérez de los Cobos, who charged 129,271 euros is situated.

The budget of Casa del Rey will freeze over this year and will stay at 7.78 million euros of .

Spending Ministries

The expenditure of all ministries fall 5 , 1% in 2015, to reach 62,496,000, if transfers to Social Security and the Public Employment Service are included. If these transfers are discounted spending ministries available to decrease 0.2% compared to 2014 and will be of 34.526 million euros.

Finance notes that 450 million investment plan to Promote Growth, Competitiveness and Efficiency (Grow Plan) are included in this expense, which has 2,187 million euros , of which almost 50% is spent on initiatives of SMEs and financial instruments. Have also been recorded 231 million to finance devolution in 2015 a quarter of the Christmas bonus suspended in 2012.

Public debt of over 100%

Debt public of Spain exceed first time ever 100% of GDP in 2015, when the government expected to reach 100.3%, about 1.05 trillion euros , despite the expense for interest payments on the debt will fall by 3% this year, to 35.490 million.

In addition, in 2014 the ratio of government debt to GDP will finally 97.6% below the 99.5% that the Government intended to April this year. This is explained by the recent upward revision of GDP has conducted the National Statistics Institute and has raised the country’s wealth by including hitherto unrecorded activities such as prostitution and drug trafficking, among others.

The growth of this ratio of debt to GDP is smaller than in other years , the statement said, among other reasons, the process of fiscal consolidation to which administrations have undergone public in 2014, which will continue in 2015.

Andalucía, Castilla León, Galicia and Catalonia

Communities of Andalusia, Castilla y León, Galicia and Catalonia, are those that bring together the largest public sector investment state in 2015

These four communities have the real investment rate higher of the national total, so Andalucía is 17.4%, Castilla y León 15.5%, 12.3% Galicia and Catalonia, 9.5%.

By contrast, communities that less investment will of the national total will be La Rioja, with 0.8%, Navarra, with 0.9%, Baleares, with 1.2%, Cantabria, with 2.0%, and the Canaries, with 2.4%. addition to the autonomous cities of Ceuta and Melilla, with 0.3% in both cases.

telematic Budgets

is the first time that budgets arrive Congress telematic form and not in a physical format such as a CD or a memory stick. Since its tablet, the finance minister has sent a file of 141 megs with the public accounts to l House Speaker Jesus Posada. However, budgets have also entered the House in the traditional paper format , with different chapter books of expenses and income.

Montoro, who has come to Congress Past 9.45 in the morning accompanied by the Secretaries of State for Public Administration, Budget and Expenditure and Finance, has posed for the media graphics on the Patio de Floridablanca, before delivering the State budget to the president of the Chamber.

Then, it has led to the Hall of Lost Steps, which has been officially celebrated the ceremony of the bill Posada, in the presence of senior Ministry members of the Finance and Budget Committee of the Congress.

Fall 3.2% spending limit

Budgets have reached Parliament the last business day to the law, which states that the accounts of the following year have to come to the House before the end of September to allow time to meet parliamentary procedure.

After the official delivery of budgets, the General Committee meets to decide the timing of processing of public accounts. After registering a project, the parliamentary groups have until late this afternoon for appearances of those responsible for the various ministerial departments to explain the relevant items.

2015 budgets will have a spending limit nonfinancial 129.060 million euros, representing a fall of 3.2% compared to 2014 is set budgetary stability objective in all public administrations with a maximum deficit of 4.2%, all with a new macroeconomic framework more optimistic , which provides that the GDP will grow 2% in 2015 year in which the unemployment rate would be 22.9%.

Appearances and amendments within

According to the Rules of Congress, processing the bill enjoys Budgets preference over other projects and bills, so once registered can begin the hearings of senior government officials.

Typically these sessions are initiated by the presence of the governor of the Bank of Spain, Luis Maria Linde, which may already appear on Wednesday at 10.00. Upon completion of the hearings, the different formations may submit amendments against the entire bill until 14:00 on Friday 17 October with the aim of vetoes can be debated in the Plenary Lower in Week 21 to 23 October.

The Budget 2015 has as main goal, according to the minister himself Montoro, strengthen economic recovery and consolidate job creation , based on social cohesion and ensuring fiscal consolidation, with deficit target of 4.2% compared to 5.5% this year to be closed , the achievement of trust in large As the rise in GDP, which is expected to be 2%.

Extremadura recorded in the second quarter 678 certifications … – Reuters

MADRID / MERIDA, 30 Sep. (EUROPA PRESS) –

The community of Extremadura registered in the second quarter of 2014 a total of 678 certifications foreclosure initiated and registered on the records of ownership of rural and urban properties, according to statistics of foreclosures published today by the National Statistics Institute (INE).

The main objective of this statistic is the number of quarterly offering certifications of foreclosures started and registered in the Register of Deeds for the reference quarter. Statistics remember that not all foreclosures end with the release (eviction) of their owners.

the total of 678 certificates, 140 corresponded to 538 rural properties and urban properties. It is noted that in urban, most homes were (284), followed by other urban, with 176, and solar, with 78.

Also on certificates started and registered housing, 13 of them were new and 271 used, whereas 219 its holders in physical and 65 legal.

NATIONAL DATA

The number of foreclosures on primary residences stood to 9,611 in the second quarter, a figure 1.5 percent higher than the previous quarter and 8.4 percent higher than the April-June period of 2013.

From April and June this year 32,960 foreclosures, 1.2% more than in the first quarter and 14% were initiated more than in the second quarter of 2013 Of those 32,960 foreclosures recorded between April and June, 31,373 farms were affected urban (where homes are included) and 1,587 for rural properties.

Foreclosures on urban properties rose by 1% in the previous quarter and 14% from a year ago. Within urban farms, 19,155 executions were for homes, equivalent to 58.1% of all foreclosures in the second quarter, representing a 1% quarter on quarter and an annual increase of 7.2%.

Inside the homes, foreclosures on homes totaled 12,367 individuals in the second quarter, of which 9,611 (77.7%) are common home ownership and 2,756 are not habitual residence of the owners . The latter increased by 3.8% quarter on quarter and 1.3% in the second quarter of 2013.

Meanwhile, foreclosures on homes totaled 6,788 corporations in the second quarter , 0.9% less than in the previous quarter and 8.1% over the same quarter of 2013.

According to INE, the total number of foreclosures on homes, over eight in ten (16,420) used affected households, with quarterly growth of 7.6% and 15.5% year growth. Executions on new homes totaled 2,735, with quarterly and annual declines of 26.3% and 25%, respectively.

In this way, according to the INE, only 0.052% of existing family homes Spain (18,331,400) initiated foreclosure between April and June this year.

The statistics also reveals that 21.7% of foreclosures on housing starts in the second quarter were mortgages in 2007, 17.6% of mortgages underwritten in 2006 and 13.3% in 2005 to mortgages signed Expanding the spectrum a little more to the years 2005-2008, we find that this period accounts for 63.4% foreclosures started in the second quarter of this year.

Of the mortgages on homes in 2007, 0.33% initiated foreclosure in the second quarter of this year, that percentage drops to 0.25% for mortgages signed in 2008, to 0.21% in the subscribed in 2009, and constituted 0.07% in 2013.

SOLAR , LOCAL SHOPS, OFFICES AND STORAGE.

In the second quarter, foreclosures on solar totaled 1,694, with an annual growth of 62% and a rise of 13.8% qoq.

To close the chapter on urban properties, foreclosures on premises, garages, offices, storage rooms, warehouses and other buildings of urban nature reached 10,524 in the second quarter, up 0.7% on the previous quarter and 22.5% above the figure a year earlier.

On the other hand, foreclosures on rustic properties totaled 1,587 in the second quarter, with an increase of 5% from first quarter and an annual rise of 13.1%.

CATALAN LEADS ON HOUSING MORTGAGE EXECUTIONS.

By region, Catalonia led foreclosures on homes in the second quarter, with a total of (3,994), followed by Andalusia (3,981). On the opposite side stood La Rioja (61), Basque Country (94) and Navarra (118).

On all farms, Andalusia led the number of foreclosures, with 7,703, followed by Catalonia (5696) and Valencia (5365). A tail again placed La Rioja (101), Navarra (199) and Basque Country (201).

The two lives of Boyer – The World

Miguel Boyer lived two lives. In the first, a son of Republican exile and a young leftist with high intellectual formation that eventually became part of the generation of the PSOE, under the leadership of Felipe Gonzalez came to power in 1982 in his second life was, came to wide public through the Hello and Ruiz-Mateos. In both lives, behaved with the very superiority of a person known smarter than average. His intellectual brilliance and capacity for analysis were always beyond doubt. In the same way that his arrogance in dealing with the rest of mankind.

Boyer chose economics as a field of knowledge and its destination is crossed with Felipe González in the late 70s was the teacher who introduced the Socialist leader in the arcana of macroeconomics. As finance minister in the first socialist government after winning 82, Boyer happens to be the mastermind of tight fiscal policies were said then-Liberals and became the bete noire much of Almighty guerrismo and the UGT, the union brother PSOE. However, Boyer went down in history for such a leftist measured as the expropriation of RUMASA , which will also become the nemesis Ruiz-Mateos. The Ghost of Superman dressed businessman appeared to him in a dream to the horror of his membership of the social, political and economic elite.

Its passage by the Government confirmed that the rare intellectuals once out good politicians. Felipe González himself said years after Boyer was a man as smart as awkward in economic matters in politics. So he failed in his cracking to be vice president and was forced to leave the government. Their romance and subsequent marriage with Isabel Preysler made him the paradigm of beautiful people that socialists pata negra whipped at rallies. While War had asked his party colleagues that veranearan with the jug and head scarf to set an example, Boyer landing at Marbella every summer behind many trunks his wife.

Boyer he combined his status Preysler husband and inhabitant of the luxurious mansion of the 13 bathrooms with their work in front of banks and major companies. Their presence in Madrid showroom never went out. When his star began to wane, gave the stroke joining the FAES and calling the vote for José María Aznar. He left his FAES discrepancy with Iraq War . In recent years, after the outbreak of the crisis, it became occasional adviser to former President Zapatero, who called him to La Moncloa after reading an article in which he showed compassion for economic policy the socialist government.

The end of the socialist government and the stroke he suffered later, in spring 2012, made its efforts to focus on their own recovery and their public presence is reduced to some sporadic cover Hello .

Budgets. pge reach the 2015 Congress – elEconomista.es

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MADRID, 30 (SERVIMEDIA)

The Minister of Finance and Public Administration, Cristobal Montoro, delivered Tuesday at the Congress of Deputies Bill State Budget (PGE) for 2015, to the start of the parliamentary process thereof .

Montoro reach the Patio de Floridablanca Congress of Deputies at 9.45 am, accompanied by the Secretaries of State for Finance, Miguel Ferre; Budget and Expenditure, Marta Fernández Currás and Public Administration, Antonio Beteta.

At 10 am in the Main Hall, the minister delivered digitally budgets that serve to consolidate ??? ? economic and employment recovery, as defined by the Government, the Congress President Jesus Posada.

Later, from 1100 hours, the finance minister and state secretaries explain the accounts at a press conference.

CONTENT

The draft Law on General State Budget for 2015 includes a commitment to reduce the deficit of the central government to 2.9% of GDP.

These accounts have been prepared on the basis of a limit of no financial expense totaled 129.060 million euros, 3.2% lower than a year earlier.

The PGE 2015 include an increase of the budget of the ministries at an average of 0.1%, so that departmental spending will be on 34.976 million euros.

also provide for a reduction in spending payment of debt interest 3% to 35,490 million euros.

Meanwhile, contributions to Social Security and transfers to the Public Service of Employment stood at 27,970 million, 14.8% less, and pension spending will rise between 3% and 3.5%.

In R & D budget up 4.8% in education increases by 4.5% and in culture, 4.4%, while public investment will increase by over 6%.

As for tax revenues, the Executive expected to reach 186,111 million in 2015, 3.5% more than budgeted for 2014.

For tax figures, the government plans to raise the income tax 72,957,000 (0.3%), 23,577 for Tax Corporations (+ 5.6%), 60,260 million VAT (+ 9.9%) and 19,894,000 special tax (-2.7%).

PROCESSING

The draft Budget Law has shall be given priority over other projects and bills, to meet the deadlines.

The processing in the House of Representatives will begin with the celebration of the hearings in committee so that those responsible for the various ministerial departments explain the corresponding items.

the general debate of the draft budget law is then held, if any amendment is submitted to asks the return of the project to the Government.

If the accounts saved this step takes place the debate in the Committee on Budgets, which will analyze and vote on the proposed amendments to draft the opinion that will be presented to Parliament.

subsequently held the vote on the draft Law on the State Budget for 2015 in the House of the Congress of Deputies.

Once approved, the text will be sent to the Senate. If the Senate does not introduce amendments or vetoes a bill, the budget will be finally adopted.

If the Senate approves amendments or vetoes the bill, it must go back to Congress of Deputies, which may ratify or reject the amendments and, if necessary, lift the veto.

(SERVIMEDIA)

30-SEP-14

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Monday, September 29, 2014

USA Fernández responsible judicial decision on funding … – La Vanguardia

Buenos Aires, Sept. 29 (Thomson Financial) .- The president of Argentina, Cristina Fernández, today blamed the United States for the resolution of the New York Judge Thomas Griesa who declared in contempt of the South American country in open dispute with hedge funds.

“USA as a state is solely responsible for the actions of any of its organs, such as the recent decision of the judiciary,” Argentina’s president wrote in his Twitter account hours after it became public judge’s decision.

today told Griesa Argentina in contempt for ignoring a ruling that forces you to pay the complainants investment funds 1,300 million, plus interest, for defaulted bonds from 2001 and there entered into swaps in 2005 and 2010.

“The judge’s decision Griesa has no safe practical effect provide new elements that serve the slanderous political and media campaign by vulture funds against Argentina” , said the president.

The president called the decision by New York judge “violation of international law, the UN Charter and the Charter of the Organization of American States.”

“Grisea holds the unenviable record of being the first judge to declare a contempt against a sovereign state to pay a debt, after failing in his attempt to block the restructuring of the external debt of Argentina,” he said.

The president reiterated that “the Argentine government reaffirms its decision to continue to pursue the defense of national sovereignty and to petition the government of USA accept the jurisdiction of the (International) Intl Court of Justice to settle the dispute between the two countries” .

Reviews of President deepen the statement issued by the Argentine Foreign Ministry after the announcement of the decision to Griesa and blamed the United States and of the judgment.

Before that the failure Griesa were known, the Argentine Foreign Minister Hector Timerman, told reporters that a decision of this kind would be “inconceivable” and reported sending a letter to Secretary of State, John Kerry, to criticize the “legal nonsense”.

The decision to Griesa the eve of the new maturity of Argentina debt from creditors who themselves joined swaps in 2005 and 2010, about $ 190 million was announced , of which 171 million correspond to bonds issued under foreign law.

For the latest maturity, around 1,000 million dollars, 30 June, Argentina deposited the money, but half of the funds -534 million-were blocked in the Bank of New York Mellon (BONY) by an order of Griesa.

The judicial funds lock prevented creditors reached in August so the rating agencies Argentina declared in “selective termination payments”, a status that the South American country rejected as it was argued that the payment transaction.

In August, the Argentine Congress passed a law for local payment or France restructured debt to those creditors that choose this option to avoid the judicial lock in the United States.

The money for the due on Tuesday will be deposited with National Trust, a subsidiary of the State Bank Nación Argentina designated by the Government of Fernandez as trustee paying agent in place of BONY.

The Government has not yet finalized mechanisms to ensure payment to creditors in exterior.COM

Fitch threatening to downgrade the debt rating of Catalonia ‘bonus … – ABC.es

Fitch threatening to downgrade the debt rating of Catalonia 'bonus … – ABC.es

j. tahiri / madrid

Day 29/09/2014 – 10:43 p.m.

Fitch threatening to downgrade the debt rating of Catalonia

afp

President of the Generalitat, Artur Mas

Banks weigh down the Ibex 35 – Expansión.com

The huge weight has banking training our main indicator causes widespread changes in the sector are reflected strongly in the index.

In today’s session the Ibex 35 has left 1.52%, to settle at 10,686 points, has been the worst behaved of his counterparts, because in addition to acknowledge the doubts that cause conflicts in Hong Kong and Ukraine our investors have an added uncertainty about the position being taken by the Catalan government with respect to public consultation.

A dispute that has already caused the risk premium in Spain has risen to 126 points and the interest Spanish ten-year bond at 2.2% climb. The market response has been clear and almost all our values, led by banks, stock market declines have shown.

Also it should be noted that the cuts have worsened after the opening of Wall Street, do not forget that the major American indexes are on the roof of its bullish channel and every step forward one step back usually results.

Isabel Preysler and Miguel Boyer, and his strong will – Reuters

MADRID, Sept. 29 (CHANCE) –

Miguel Boyer , husband of Isabel Preysler has died from a pulmonary embolism this morning 29 September 2014, at 75 years of age. The Socialist former minister was admitted to emergency this morning at the Ruber International Hospital in Madrid.

Miguel Boyer, suffered a brain hemorrhage last February 28, 2012 The father of Anne Boyer, was admitted to the Ruber hospital Juan Bravo Street, where he spent two months. Both his wife Elizabeth, and his daughter Ana, and this sister, Tamara Falco never leaving your side are not separated.

Months later, the minister at the time of Felipe González, returned to his Iron Gate home.

MICHAEL BOYER, INCREDIBLE FORCE OF WILL, OVER ITS RECOVERY

Miguel Boyer, has been an example of fortitude and strength of will throughout their recovery. Since then, every day, I went to a rehab clinic in Queen Street Source, Monday to Saturday and evening continued at home where as he commented to Hello !: “Besides swimming in the pool.”

Much of his recovery, he owed his wife Isabel Preysler: “I’m happy, very happy Thanks to my wife I have saved.”. A statement that surprised, not for the love he had for his wife, if not ahead of him, a man of the most serious and cold of his time as minister.

ISABEL PREYSLER , ITS ALMOST RETIRED PUBLIC LIFE TO BE PENDING HER HUSBAND MICHAEL BOYER

Isabel Preysler, he retired from public life almost to be aware of her husband Miguel Boyer. The Queen of Hearts, on Saturday called the doctor who attended him in his brain hemorrhage, to say he was tired and difficulty to breathe and could not see well, as has been told Marilo Montero. The journalist told TVE and was taken to hospital where he was revived and was brought back to his home.

If something surprising in this relationship was the disparate characters of the couple, since Isabel was highly accustomed to participating in social life and he, however fleeing all. Still, both found the balance and were together nearly thirty years,

Still even changed over the reigns of the coated paper has so many covers since it was known as girlfriend of singer Julio Iglesias, when the former politician and businessman, sufiera that unfortunate stroke, two and a half years ago … distanced their outings, dinners and trips, and devoted himself to caring for her husband.

Numerous politicians and businessmen come to the morgue to give … – RTVE

RTVE.es / AGENCIES – MADRID

Numerous politicians and businessmen have approached the morgue San Isidro in Madrid , to bid farewell to former Minister of Economy socialist Miguel Boyer, died this morning.

Inside the morgue were deceased wife, Isabel Preysler, with his daughters Tamara Falco and Ana Boyer .

One of the first to come was the former Prime Minister José María Aznar (1996-2004), which followed other politicians like former minister Rodrigo Rato and former governor of the Bank of Spain Miguel Angel Fernandez Ordonez, who recalled his friend as someone very important to Spain.

The Socialist former minister and old Enrique Miigica Ombudsman recalled humanity Boyer and their contribution to the struggle and consolidation of democracy.

also Socialist former minister Carlos Solchaga has stated he did not expect such an event, while Boyer recalled as a great man.

While PP president of Madrid, Esperanza Aguirre , has said it is “fan” of Boyer despite having been his “adversary” policy, while praised his work in the socialist government, when he took liberalizing measures.

Meanwhile, Minister of Economy and Competitiveness Luis de Guindos , said it was a man who took measures “modernized the Spanish economy.”

Among the entrepreneurs who have marched in the wake include Porcelanosa chairman, Manuel Colonques; attached to the direction of El Corte Ingles, Manuel Pizarro ; Fernando Fernandez Tapias businessman and his wife, Nuria González, or attorney Antonio Garrigues Walker.

Mains President Jose Folgado , stressed it was a “great man “made very important contributions, including from the board of directors of the electrical, so lamented” a great loss “.

Other attendees were economist Juan Iranzo, woman entrepreneur Alberto Cortina, Elena Cue, and journalists Iñaki Gabilondo and José Oneto , and Luis Alfonso de Borbon and his wife, Margarita Vargas.

Miguel Boyer will be buried Tuesday “in the strictest privacy” in the cemetery of San Isidro , in Madrid, according to sources have indicated Interfuneraria group manager funeral wake.

The minister who managed to liberalize the economy stagnant – Online

was finance minister for only three years, but its management changed the Spanish economy forever. Miguel Boyer (1939, San Juan de Luz France ) will be remembered as the Superminister of Felipe González who expropriated the group RUMASA , a giant with feet of clay whose failure threatened the economy, and, above all, for being the man who took a country stuck and liberalized with the decree nicknamed his name.

Boyer was born on February 5, 1939 in San Juan de Luz, France, due to the exile of his family, Republican Azana. Two years later, in 1941, his grandfather was arrested by the Gestapo and delivered to the Spanish police, who had been sentenced to the death penalty.

Bachelor of Sciences Physical (1963) and Economics (1969) by Complutense University of Madrid , briefly worked as a physicist in the Nuclear Energy Board before entering the Research Department of the Bank of Spain in 1969.

The Economist joined the Spanish Socialist Workers Party (PSOE) in 1960 after the dictatorship he joined the Executive (1976) but left him for his Marxist doctrine and passed the Social Democratic Federation . I would return in 1977 to PSOE two years later abandon definitely Marx.

After a brief appointment as deputy for Jaen , was appointed director of Planning and Research National Institute of Hydrocarbons in 1981, a post he held for a year before being appointed minister in 1982.

Expropriation RUMASA

The first government of Felipe González had him as Minister of Economy, Finance and Trade from the December 2, 1982 to July 4, 1985.

Boyer ordered the expropriation of Rumasa group 1983 measure that caused the enmity of José María Ruiz-Mateos , who came to attack him in 1989 The Bee group was the largest conglomerate Spain , consisting of some 700 companies in sectors as diverse as banking, tourism, food, textiles, chemicals and real estate. However, only 250 were operational and cross-financing led government intervention on grounds of public utility and social interest.

Ruiz Mateos, moments before attacking Boyer

Constitutional Court has ruled in favor of the Government in five cases on the constitutionality of the decree expropriation. However, the Supreme acquitted in 1997 by Ruiz-Mateos RUMASA case .

Liberalization of the economy

Spain left dictatorship with high inflation, high unemployment rate and balance of payments dependent on outside.

The reforms undertaken by Boyer clashed with members of the PSOE, including some ministers like Joaquín Almunia Enrique Baron and vice Alfonso Guerra , because they were totally different from those in the electoral program of the party.

His first achievements were balance the balance of payments surplus of 2,500 million in 1984 and a reduction in inflation from 14% to 9% through a restrictive monetary policy.

However, the economist deepened its reforms in 1985, when he announced the famous decree Boyer and Tenancies Act , laws with which liberalized trading hours and foreign investment, allowed the leases may be temporary in rather than lifetime, reduced indirect taxes and allowed households could become commercial regardless qualification of urban planning, among other measures.

Boyer always had the support of the Head of Government Felipe González. However, he did not repeat as a minister in the reshuffle Executive July 1985 and his place was taken by Carlos Solchaga .

Boyer always had the support of Felipe González, but did not repeat as minister

A supporter of privatization of public sector goods and services, Boyer publicly supported economic program José María Aznar, presidential candidate of the PP Government in March 1996 general This led him to ask the floor of the PSOE, as said not feel socialist several years ago.

2002, he was appointed to the board of the Fundación FAES , merging the different foundations of the Popular Party, proposed by the PP president, José María Aznar.

The former minister was appointed chairman of Banco Exterior de Spain in 1985 to replace Francisco Fernández Ordóñez . While in this position, and after the meeting of Hanover European Council June 1988, he was appointed by Jacques Delors to join the committee of experts for the Study of Economic and Monetary Union .

In the 90s, went into private business. After separation of the sisters Koplowitz of their husbands, in 1990 he became president and CEO position of Grucycsa , whose renovation would result in Promotion Building and Contractors (FCC) .

Boyer was also president of the Company Logistics Oil (CLH), the former Campsa (1999); adviser Urbis (2006) Spanish Formula 1 team Hispania Racing Team (2010).

Miguel Boyer married Isabel Preysler Arrastria on January 2, 1988, marriage was born Ana (April 18, 1989). It also has a child ( Michael ) and a daughter from his first wife, gynecologist Elena Arnedo , with whom he married on June 26, 1964 and that divorced in 1985.

The long journey of Miguel Boyer – The País.com (Spain)

Miguel and Carlos Solchaga Boyer, Boyer home. / MARISA FLÓREZ

When the PSOE He won the 1982 elections by a landslide, and Felipe González had in mind that his Minister of Finance would be Miguel Boyer Salvador. His appointment as head of the economic policy was a declaration of intent by Felipe González, though that soon earned him stress relations with UGT, then led by Nicolás Redondo. Boyer was a liberal economist expert authors also a graduate in Physics and enjoyed immense culture. For Gonzalez, it was the appropriate person to make the transition in tandem with Carlos Solchaga (as Minister of Industry and later his successor) and usher in the changes that the Spanish economy needed to enter the European Economic Community (later European Union). He surrounded himself with a choice of economists corsage which then would run in the successive socialist governments, as Miguel Fernández Ordóñez, Guillermo de la Dehesa, Luis de Velasco, José Borrell and Jose Victor Sevilla, who did not have a precisely smooth relations.

The first performance sounded Miguel Boyer, who died on the day of his holy at age 75 from a pulmonary embolism just over two years after suffering a brain haemorrhage, was the expropriation of a few RUMASA months of the government form. Over the years underline that I would do without hesitation. From the beginning, away from old clichés and moved away from socialist orthodoxy in their performances, as industrial restructuring, the embryo of the temporary contract, updating rents (the famous decree Boyer) and pension reform, which was the final burst to break with UGT.

Nor had good relations with the Deputy Prime Minister, Alfonso Guerra, who objected to a resounding Boyer was vice president of economic affairs, as was his claim. Gonzalez gave in War and Superminister vice economic ran out, which meant leaving the Executive. An anecdote reflects relations War. This gave him a book with the phrase “A Miguel Boyer Cyclops of the economy.” In response, Boyer commented: “With the cyclops one-eyed giant or want to call me?”. The duel was pending, but Boyer launched more than a poison dart against Gonzalez: “A Philip escaped the crisis in hand, doing so in 24 hours goes ahead change, but left it to become pulse”

By this time, Boyer had left his wife, Dr. Elena Arnedo, to go live in the house with the ministry who would become his wife, Isabel Preysler, which in turn had left their relationship the Marquis de Griñon. Your friend will then instructed Solchaga president of Banco Exterior (embryo Argentaria), a position in which he rubbed shoulders with the seven major banks and bankers, including the recently deceased Emilio Botín, in 1986 after replacing his father. It was subsequently signed by the constructions and contracts and Albertos Koplowitz sisters. It was for him a turbulent era that also had, to declare ‘the Ibercorp case’ in which they were accused his friends Mariano Rubio and Manuel de la Concha, members like him called ‘beautiful people’

Boyer had been very active in the Franco era against the dictatorship. He was arrested in 1962 after being caught while handling a ‘Vietnamese’ (as it was known at the time of manual duplicators) where printed leaflets. That earned him six months in prison of Carabanchel. The democratic pedigree also won him being fired from the Nuclear Energy that had entered practically since he had a degree in Physics. We then got the itch to economics, science in which he received his doctorate and serve him to enter the Bank of Spain, where he met many who would be close friends (Luis Angel Rojo, Mariano Rubio, Solchaga …).

Boyer had drunk freedom at home. He was born in the French town of St. Jean de Luz, in exile who was forced to his family, belonging to the enlightened bourgeoisie which had lost the war and their children educated under that premise. His father was in a concentration camp and his maternal grandfather, Miguel Salvador, sentenced to death by Franco. When he recalled his mother’s farewell grandfather with him in his arms misted eyes. Then, already installed the family in Madrid, he studied at the French School, where he began to emerge for his intelligence and brilliance that would highlight later in the profound debates that liked to keep in which also highlighted a fine sense of humor offered when he did discard the mask of initial shyness.

It was also a man of swings. Since the transition, in 1977, he left the party, although he did not break the card number 19 of the Madrid Socialist Federation to overdo Francisco Fernández Ordóñez. Would soon leave when ‘Pacoordóñez’ decided to join UCD. He tried to be Independent senator Rioja, approaching the land of his mother’s family (his grandfather was Amos Salvador Economy Minister twice with Sagasta). After failing socialist returned to the fold, which was already leaving the term Marxist Jaén topped the list with old and young militants, including Colin Campbell. Then came the said resignation as minister in 1985 and, over the years, the notorious approach to PP, accepting made patron of the FAES Foundation chaired by José María Aznar.

But the tough little idyll, which Aznar took in supporting the Iraq war. And, after another period of silence in which Boyer presided at CLH (formerly Campsa) and Hispania group Boyer again and approach the PSOE Zapatero government in office. He was part of the advisory team and was a regular at meetings in La Moncloa, usually with Solchaga. In celebration of the 30th anniversary of the Socialist victory in 2012 and fresh from the brain hemorrhage that left him sequels mobility, wanted to attend the ceremony in which he was not expected and the organizers had to improvise a poster hand with your name on the front row, close to War and always with Solchaga.

The return to normal in Air France will become progressively … – ABC.es

(INT)-SECTOR COMPANIES | & gt; AREA: Economics, Business and Finance

09.28.2014 / 22:00 h EFE

The company Air France announced today that their flights back to normal “gradually” starting next Tuesday, which means that those who had already been canceled today and tomorrow will not be made despite the end of the strike.

In a statement, Air France justified this fact first by “operational and regulatory” requirements and because planes have to pass a series of mandatory checks to fly again.

also because it takes time to bring back the aircraft and their crews to all scales worldwide.

In the day today, unemployment, launched last day 15, resulted in the cancellation of 55% of the flight schedule Air France, and tomorrow still have to suspend just over 40%.

The company lamented that “despite lengthy negotiations since the beginning of the conflict” that have allowed “numerous advances” union convenors pilots unemployment have not signed the protocol proposed commitment to its “balanced and fair” trial.

He complained that the core of pilots, denouncing the protest group plans to develop low-cost subsidiary Transavia, with different work rules for Air France, “have not taken advantage of those opportunities.”

In any event, even the absence of that commitment, the management said it intends to continue without delay “the rapid development of Transavia France, great vector group’s growth.”

This means that it will “in economic conditions provided social and competitive “, in particular by extending the fleet Transavia France, which currently stands at 14 aircraft, the Boeing 737 model, and not Airbus A320 family, as they wanted the pilots of Air France strike organizers.

This increase in activity is done with “operating conditions and remuneration of Transavia France”, different from those of Air France, whose drivers will be given the opportunity to work for the low-cost subsidiary, but with those rules.

The company said that its plans for Transavia France allow “rapid creation of 1,000 jobs in France”, of which 250 will be pilot.

Air France insisted that the purpose of this “costly and harmful” strike, “has gone on too long”, has reinforced its determination to “advance” their economic model to endorse his leadership within a framework of social “constructive and responsible dialogue.”

The National Union Line Pilots (SNPL, the main one in this group at Air France) decided to end the strike, the longest in the history of the airline, although he stressed that there was no reached an agreement in negotiations with management.

Although the company resigned last Thursday plans to create a new subsidiary Transavia Europe to establish new bases of operations outside France and the Netherlands, with less labor conditions favorable, the SNPL also wanted a single contract for pilots Transavia France, to align it to Air France.

The president of the group that formed the KLM Air France, Alexandre de Juniac Dutch, recognizing how damaging this conflict, said the priority now is “the union (…) about the project growth and competitiveness” for 2020.

This project will now be more difficult considering that, for lack of an evaluation prevista- the company has been missing for two weeks about 15-20 million euros a day, plus the consequent deterioration of its image among customers who have stayed on land.

IPC moderates his fall in September to 0.2% and experts no … – La Vanguardia

Madrid, Sep 29 (EFE) .- Annual inflation accumulates three consecutive months of decline has moderated its fall even lower to 0.2% in September, while analysts say that if the economy grows can not speak deflation.

The INE has published today the leading indicator index of consumer prices (CPI) reflects a further decline in inflation, although three tenths lower than that recorded in August, when it was 0.5%, the highest since October 2009.

The minor fall in the CPI annual rate was due to stability in prices of food and non-alcoholic drinks, and the rising cost of electricity this month.

confirmed this information on 14 October, when the INE detail the evolution of all components of the basket, the CPI accumulate three consecutive months of decline since July down 0.3% and 0.5% in August.

However, the experts consulted by the Spanish EFE discarded economy may be in deflation and explain the price drop occurs in a context in which the economy is growing and recovering.

The analyst Foundation of Savings Banks (Func) María Jesús Fernández says that while consumption increases and the recovery remains on track “no You can talk about deflation, “adding that this is an adjustment of prices and costs” normal “after they have grown beyond what they should.

Aim to annual inflation can return to fall a tenth in October and stays at 0% at year end, in order to return to positive rates in 2015.

“It will be recalled to positive but small rates,” added Fernandez, who attributes the decline recorded in September lower the difference in prices of unprocessed food a year ago, when it rose. “Now this difference has been corrected and finished the step effect,” he says.

Meanwhile, analyst Cortal Consors Estefania Ponte denied the existence of deflation “because consumers are delaying their decisions shopping “and ensures that the drop in annual rate of 0.2% is in line with expectations.

” We hope to be slowly recovering and that the annual CPI finished the year at 0, 5% and core at around the same rate, “he says, while recalling that the crisis has been very deep and has greatly reduced the ability of entrepreneurs to set prices.

Cortal Consors expected that annual inflation will return to positive signs and to recover fees of 2% in late 2016.

The BBVA Research believes headline inflation has moderated the pace of decline, suggesting that underlying prices ” remain stagnant “at 0.0%, the fifth consecutive month.

Indicates that moderation in the fall of IPC is mainly derived from absorption effects in basic food prices.

In addition, consumer prices have it registered positive monthly rate in September, increasing 0.1%.

From autonomous organizations are warning that demand remains subdued and not recovered consumption.

The National Federation of Independent Workers Association (ATA) believes that the low activity and low consumption in August reflect a demand that failed to take off, but is optimistic predict the CPI again positive values in the coming months and end the year flat, unchanged compared to 2013.

The Union of Professionals and Self-Employed (Upta) warns that the risk of negative inflation is seated in the second half of 2014 is now more real than ever, and demand immediate measures to boost consumption.

José María Landaburu, Secretary General of the Union of Associations of Self-Employed and Entrepreneurs (UATAE), “deflation is a real risk to be avoided.”

As for the annual change in Harmonized CPI, which measures changes in prices in the same method in all countries the euro area, the decline has been 0.3% in September, also two tenths less than the fall in the previous month.

rdm / ltm

Back to normal at Air France will become progressively … – ABC.es

(INT)-SECTOR COMPANIES | & gt; AREA: Economics, Business and Finance

09.28.2014 / 21:40 h EFE

ualiza the NH7065 with new projections of flights canceled today and tomorrow)

Paris, Sept. 28 (Thomson Financial) .- The company Air France announced today that their flights back to normal “progressively” to Starting next Tuesday, which means that those who had already been canceled today and tomorrow will be made despite the end of the strike.

In a statement, Air France justified this fact first by requirements ” operational and regulatory “and because planes have to pass a series of mandatory checks to fly again.

Also because it takes time to bring back the aircraft and their crews to all scales throughout the world.

In the day today, unemployment, launched last day 15, resulted in the cancellation of 55% of the flight program of Air France and tomorrow still have to suspend just over 40%.

The company lamented that “despite lengthy negotiations since the beginning of the conflict,” which allowed “numerous advances” pilots union convenors of unemployment have not signed the protocol commitment to its “balanced and fair” trial.

complained that the core of pilots, who reported the protest group plans to develop low-cost subsidiary Transavia, with different work rules those of Air France, “have not taken advantage of those opportunities.”

In any case, even in the absence of that commitment, the management said it intends to continue without delay “Transavia accelerated development in France, great vector group’s growth. “

This means that it will” in the competitive economic and social conditions provided “particularly expanding fleet Transavia France, which is currently 14 aircraft, with the same model Boeing 737, and not Airbus A320 family, as they wanted the pilots of Air France strike organizers.

This increase in activity is done with “operating conditions and remuneration of Transavia France “, different from those of Air France, whose drivers will be given the opportunity to work for the low-cost subsidiary, but with those rules.

The company said that its plans to allow Transavia France” the rapid creation of 1,000 jobs in France “, of which 250 are pilots.

Air France insisted that the strike to” costly and harmful “that” has lasted too long “, has reinforced his determination to “advance” their economic model and endorse his leadership within a framework of social “constructive and responsible dialogue.”

The National Union Line Pilots (SNPL, the principal in this group in Air France) decided to end the strike, the longest in the history of the airline, although it stressed that it had not reached an agreement in negotiations with management.

Although the company resigned Thursday It passed to his project to create a new subsidiary Transavia Europe to establish new bases of operations outside France and the Netherlands, with less favorable, working conditions, SNPL also wanted a single contract for pilots Transavia France, that were aligned at Air France.

The president of the group, which form the KLM Air France, Alexandre de Juniac Dutch, recognizing the harmfulness of this conflict, said the priority now is “the union (…) in around the project of growth and competitiveness “for 2020.

This project will now be more difficult considering that, for lack of an evaluation prevista- the company has been missing for two weeks about 15 EUR 20 million per day, and the consequent deterioration of its image among customers who have stayed on land.