Zubiristudents

COMPANIES OF GIPUZKOA WILL RECEIVE 35 MILLION EUROS FOR THEIR INTERNAZIONALITATION

2012-02-09T22:18:00.003+01:00

SabadellGuipuzcoano savings bank and Adegi (Gipuzkoa’s employers association) credit facilities will give a boost to 19 proyects.

SabadellGuipuzcoano and Adegi have gave 35 million to 19 proyects of internazionalitation of different companies of Gipuzkoa. Both entities renew last september the agreement they signed one year ago. Last’s years agreement was based on the boost and development of Gipuzkoan companies outside the Basque Country.

Last year’s agreement was a good new for the basque companies located in Gipuzkoa. SabadellGuipuzcoano gave to the companies more than 120 million euros, to promote one of the companies key factor in competitivity, said Adegi.

19 proyects have been funded. 17 of them are operations of 33 million on Exporta line and the other 2 on Implanta line, which receive 1.9 million for its commercial or productive implantation in countries like Brazil or Angola. 53 proyects of Gipuzkoan companies received 102 of funding during the first year of the agreement. This was a good new because it was 50% more than the initial forecast.

Erik Rios Salazar

WITHOUT AGREEMENT ON THE SUMMIT

2012-02-06T18:17:00.000+01:00

The Czech Republic and UK have not signed up the fiscal compact of the European Union. UK Prime Minister, David Cameron, has said that he has “legal concern” to use the European Union institutions in enforcing the fiscal treaty. In another hand, the Prime minister of Czech Republic, Vaklav Klaus, has argued “constitutional reasons” to not signing the treaty.
The goal of this fiscal compact has been to get a closer coordination of budgets policy across the European Union to prevent excessive debts accumulating.
The treaty has been signed up for twenty-five members of twenty-seven; all less UK and Czech Republic. Germany's Government has demonstrated a great interest for get a general agree, but it has been impossible.
This summit has been seized to discuss about lots problems like how to reduce unemployment across the eurozone or to find the possible ways to stimulate economic growth despite the stringent austerity budgets in many countries.

Aitor

ONLY 4.1% OF SPANISH POPULATION IS THINKING ON BUY A HOUSE IN 2012

2012-02-05T20:35:00.002+01:00

The 4.1% of the population in Spain said that probably they will buy a house in 2012. This is the result of a survey made by CIS (Spanish Centre of Sociological Research) to make the ICC (Index of Confidence Consumers). This is a very low percentage, but it is higher than last month’s percentage. Servimedia report us that last month’s percentage of Spaniards which were thinking of buying a new house was around the 3.9%.

But all news are not good. 69.9% of Spaniards think that probably their familiar economie’s situation will be the same or worst in the next six months. This is a worrying perspective because when the crisis was hiting very strong during the beginning of 2009 year, the percentage of this question it was not high as nowadays.

ICC (Index of Confidence Consumers) fell 2.7 points in January. The final result was 68.3 points, very low perspective, because a positive perception for the economy is around 100 points. This survey report us that 57.6% of Spaniard people don’t have enough money to finish the month.

Erik Rios Salazar

Rodrigo Rato must restrict his wage in a 75%

2012-02-04T15:18:00.000+01:00

The Spanish government has decided to restrict the wage in the savings bank that received state economic aid. This rule would affect directly to the rulers of these savings bank.

For example, the president of Bankia, Rodrigo Rato, must reduce his wage about 75%. Francisco Verdú, managing director in Bankia, also must see reduced its wage from 2.26 milion € to the fixed maximum, 600,000 €. That's because this bank received state economic investments due to the FROB 1 plan.

But they are not going the only affected ones by the measures announced by the government. José María Castellano, president of Novagalicia, entity that is controlled in a 90% by the state, must restrict his salary in 600,000 €, until 300,000 €. The managing director of NCG, César González Bueno, would do the same.

Also, the main responsible of Catalunya Caixa, saving bank controlled with a 93% by the state, Adolf Todó is over the limits of the government. He gets 1.55 milion € every year, even if the limit is of 300,000 €.

The executives of Unnim, the third nationalized entity are in the same way. Jordi Mestre, its president, gets three times the quantity fixed by the government.

Banca Cívica also has this problem; both co-presidents Antonio Pulido and Enrique Goñi get 900,000 per year. This adjustment will be smaller for Carlos Egea, president of BMN, whose wage is 450,000 € per year.

Xabier

Who wins with the crisis?

2012-01-28T10:38:00.003+01:00

In life there is always someone who is benefited from the misfortunes of others. The global financial crisis is not a exception.

During the past year there have been companies that have seen their incomes increase as the crisis also did.

Who is on the big side? who in the small side?

The big side: Some financial institutions apart from survive the crisis took benefits of it as is the case of the U.S. bank JP Morgan Chase and Barclays among others. The "parasites" of the bag are other beneficiaries of the crisis. These investors benefit from the stock market crash. Gold Investors are others because according to experts, gold is a safe bet in times of crisis. Whose offer the right product at the right time and Bankruptcy specialists they couldn't miss in this section all those specialists, financial advisers and lawyers specializing in bankruptcy.

The small side: The takeout companies because many families have already chosen to spend more time at home, watching a movie on TV instead of going to the cinema, cooking, or take some pizzas instead of going to a restaurant. Those who have spent years waiting, because they have been saving for years because before it was so expensive that they could not afford to buy anything but they can now afford to buy "cheap".

And finally ... journalists. If not, as one guy named "Martin" who says at a forum in cyberspace, "we would still talking about Britney Spears."

And you, what do you think?

Who has benefited from the crisis?

Nerea

SPANISH GOVERNMENT STOPS THE PRIVATIZATION OF 'BARAJAS' & 'EL PRAT' AIRPORTS

2012-01-26T22:15:00.006+01:00

Ana Pastor minister told us that government has postpone the entry of private capital in Aena (Spanish airports and aerial navigation), waiting to know the value of it assets.

The new Public Works minister told us this decision on monday. This decision will affect to the two principal Spanish airports, 'Madrid-Barajas' and 'Barcelona-El Prat'.

She gave a press conference in Ministry's seat, giving the explanations of this postponement. She said that they have taken the decision to not disintegrate Spanish airports chain. The decision to privatize the two Spanish principal airports was taken by former president, José Luis Rodríguez Zapatero.

The 31th of January was the last day for the consortiums to present the offers. This process is what has stopped Mariano Rajoy's president new executive.

Erik Rios Salazar

Davos 2012: Soul searching at the World Economic Forum

2012-01-25T20:41:00.001+01:00

Four years into a brutal recession that has left 200 million unemployed around the world, and with protest movements occupying public spaces in western cities, there is clearly some soul-searching going on.

Wednesday's programme in Davos began with a debate on whether 20th-century capitalism is failing 21st-century society. It notes that many of the indicators of economic and societal health are going in the wrong direction.

So, the good news in Davos is that the right questions are starting to be asked. Politicians, even right-wing politicians like Bismarck, eventually came to the same conclusion than Karl Polanyi: that capitalism in its pure, unadulterated form was unsustainable, and that it could only be made to work through deep-seated reforms.

The extent of the unease about today's toxic mix of unemployment and inequality was demonstrated in a straw poll of those attending the debate on capitalism showed that 40% thought it was failing 21st century society and 20% thought it wasn't.

The debate was somewhat one-sided: Sharan Burrow, general secretary of the International Trade Union Confederation was pitted against Brian Moynihan, chief executive of Bank of America, David Rubinstein, managing director of the private equity firm Carlyle, Ben Verwaayen, chief executive of Alcatel-Lucent and Raghuram Rajan, economics professor at Chicago University.

Burrow's view was that corporations have too much power, that capitalism was eating itself through high unemployment, the highest levels of inequality since 1930 and tax avoidance. The other panellists begged to differ. Verwaayen said corporations had too little power and that the key to the future was innovation and job creation rather than job security.

Rajan said globalisation and technological change was increasing the returns to talent. Moynihan said the banks reflected society, warts and all. Rubinstein, with a nod to Churchill, said capitalism was the worst system going, apart from all the others.

Conclusion: those running the global economy know there is a problem but, since they are doing well out of the system personally, lack the incentive to do anything about it.

Xabier

EUROPE DRAGGING THE WORLD

2012-01-24T19:09:00.002+01:00

According to the IMF has said, the world economy is “deeply into danger zone” because of Eurozone.
So IMF’s predicts that the global economy will grow by 3,25 % in 2012, a 4% less than the earlier forecast.
In fact the Eurozone countries know that their economic will growth less than their first prediction, from 1.1% to 0,5%. The “fever” will also affects to the strongest economies such as France or Germany.
This stimate reduce the predictions of the german economy from the initial 1.3% to 0.3% for 2012.
With France we are going to see that it’s economy will down from the initial 1.4% to the final 0.2%.
However, the IMF thinks that the United States Economy will grow about 1.8%, thanks to it’s strong domestic data on jobs and manufacturing.
The crisis in the Eurozone is going to affect to emerging markets such central and eastern Europe or Asia too.
IMF goes on saying that Europa’s most pressing challenge will be to restore the confidence and put end to the crisis in the Eurozone.

Aitor

In the world "there are more poor" than previously thought

2012-01-22T13:12:00.004+01:00

India is poorer than Africa. This is known as Multidimensional Poverty Index.

In India there are 421 million people living below the poverty line while 410 million live in Africa. That means that the world has 400 million more poor people than estimated to date. The index was applied in 104 countries and it measured 78% of the population.

To calculate poverty are based on income. For example, the World Bank considers poor person who has an income below $ 1.25 per day. But also take into account things like health, if their children went to school (education), if they had a dirt floor in their home, if they had access to electricity, if they had water well or if they cook with firewood.

Among Latin American countries, Uruguay is the one with the lowest poverty rate (1.7%), followed by Ecuador (2.2%), Argentina (3%) and Mexico (4%).

Niger is the poorest country in the world by the new index (92.7%), followed by Ethiopia (90%), Mali (87.1%) and Central African Republic (86.4%).

Nerea

GERMANY GROWN 3% IN 2011 AND REDUCED ITS DEFICIT TO 1%

2012-01-21T13:04:00.002+01:00

German Gross Domestic Product (GDP) grown 3% during 2011, and its public deficit was only 1% of GDP, despite of debt crisis and world’s economic weakness.

Statistical office (Destatis) remembered today that german economy grown 3.7% in 2010, and that the GDP was reduced 5.1% in 2009.

Descent of that 1% will allow Germany to observe for first time in three years the limit of 3% that establishes euro’s stability agreement. Germany break that agreement in 2010 (4.3%) and 2009 (3.2%).

The office said that thanks to the good national situation, Germany got the last year to reduce its debt.

Last year, German state, federate state and town’s red numbers were 26,700 million euros, but two years ago they were 105,860 million euros.

German economic institutes say that probably the weakness of the crisis, and debt crisis in euro area will affect Germany. That effect will do that Germany only grows 0.5% in 2012.

Erik Rios Salazar

Back to the monthly electricity meter reading

2012-01-20T19:07:00.001+01:00

The Spanish Ministry of Industry, Energy and Tourism has sent to National Comission of Energy a royal decree project on the electricity meter reading.

With this decree, the government will end with the reading system applicated since september 2008. This reading was made every 2 months, even if the users used to pay the electricity bill every month. So, one of the two readings was based on an estimate.

The Ministry has communicated that, with this new lar, the government wants consumers to pay just the electricity they use. The system still in force has generated an important number of claims by part of the consumers.

If the consumer wants to continue with the monthly billing, the electricity company will continue with the bimestral meter reading and months when there is not a real reading, it will be esmatimated.

Also, to make the billing easier, the royal decree project says that the consumers will be able to provide the meter reading, in the case that the distributor could not carry it out. The possibility of reading your own meter to help with the billing already exists for other supplies like the gas or the water.

Xabier

Bank charges for transfers rose 20 times the CPI in 2011

2012-01-19T23:53:00.002+01:00

According to a study of the Spanish Confederation of Housewives, Consumers and Users (Ceaccu), the fees charged by financial institutions for transfers in 2011 rose 20 times the annual inflation, it increased 44% over the previous year.

These commissions are the most expensive in the last year, next to the one which is applied to the provision of debit card cash (29%) or the one on the maintenance of savings account (23% ) and the study for credit and mortgage loans (23%).

Also they had recorded important increases in maintenance fees for current account (22%), the annual fee debit card (17%), the study of non-mortgage loans (15%), direct debit receipts (14%), or the annual fee credit card (10%).

Ceaccu notes that since the crisis began in 2008, bank overdrafts cost 62% more, keep out money with a debit card of the own networt cost 52% more, while the annual fee debit card maintenance and account management have become more expensive in 48% in this period.

Janire

France downplays rating downgrade

2012-01-15T22:47:00.001+01:00

French Prime Minister, François Fillon, has defended french government's economic policies after knowing the decision by Standard & Poor's to downgrade the credit rating of France.

Standard and Poor's said that Europe's austerity and budget discipline were not enough to fight the debt crisis.

Mr Fillon told a news conference that if France was in the firing line, it was primarily because of its exposure to the crisis in the eurozone. He has said that this decision constitutes an alert which should not be dramatised any more than it should be underestimated.

It was not government policies that were under attack from the rating agency and so those economic policies would be kept, with the goal of cutting spending and bringing the annual budget back into surplus by 2016.

German Chancellor Angela Merkel also spoke on Saturday, saying Europe still had a long road until restore investor confidence, after the multiple credit rating downgrades of nine eurozone countries in total.

On Friday, Standard & Poor's said France was being downgraded one notch, to AA+. The country still has a top AAA rating from the other two main ratings agencies, Moody's and Fitch.

Standard & Poor's also said that Italy, Spain, Cyprus and Portugal were cut two notches and Germany kept its AAA rating.

Austria, Slovakia, Slovenia and Malta were the other of the downgraded countries.

The cut in the so-called sovereign ratings of governments is likely to lead to most other borrowers domiciled in the same countries - including banks and companies - being downgraded.

Although the move has been widely expected, it is still likely to make it somewhat more difficult and expensive for borrowers from those countries to raise money, including for the governments themselves.

Xabier

KUTXABANK: THE NEW BASQUE SAVINGS BANK

2012-01-11T06:49:00.004+01:00

BBK in Biscay, Kutxa in Gipuzkoa and Vital in Alava board of directors signed two months ago basque savings banks merger. It’s a good new for basque economy, because all the deal of the three savings banks will mix in the new bank, called KutxaBank. This bank will start to operate this month.

The incorporation of the three savings banks will create the fifth savings bank in the ranking. It had 75,091 million euros in assets the last day of 2010. It will have more than 9,000 workers and more than 1,300 offices. The offices will be apart from in the Basque Country, in Madrid, Barcelona and Andalusia. We have to remember that six months ago BBK take over Andalusia’s CajaSur. His principal capital will be around 12.8%, perfect competence to take over more savings banks if it’s necessary.

In the new savings bank, BBK will have the control with a participation around 57%, and 12 chief executives, Kutxa’s participation will be around 32% and 6 chief executives, and to finish, Vital the 11% of the participation with 2 chief executives. BBK’s director will be the director of the new savings bank, and Kutxa and Vital’s directors will get the first and second vice presidency respectively.

The new savings bank will have his registered office in Bilbao, where the economic-finnancial head office will be located. Computing and Human Resources activity will be located in Donostia-San Sebastián, and the institutional trades in Vitoria-Gasteiz. They decided this kind of distribution, to divide the payment of taxes between the three foral funds.

BBK, Kutxa and Vital will keep their legal status, the administration of their charitable work and the trade name on each historical territories. They hope that with the merger the savings bank Kutxabank will multiplicate for three the outcome, from 380 million euros in 2010 to 846 million euros in 2015. Charitable work will increase 133%.

Erik Rios Salazar

Present situation in China

2012-01-10T11:12:00.001+01:00

In last years Chinese economy has grown clearly. Everything has been for its great industrys and big exports all over the world.

Among the products that China has developed strongly are high technology products, such as cars, personal computers, phones, DVD players, televisions... and also other products like clothes, footwears, furnitures and toys.

China is fundamental in the global economy and the development of other economies as well as producer and consumer in big quantities because it represents 30% of global consumition of coal, cotton, rice and steel.

Its industrial production, exports and investment grew the Chinese economy by 9.1% in 2003, the highest rate since 1997.

In 2004 China imported about 40% of the oil on the world market, becoming the second largest oil consumer after the United States.

At present, China overtook the United States in consumition of food, raw materials, energy... therefore per capita income in China has increased rapidly.

But not everything is of pink colour for China's economy. The main current weaknesses of it economy are:

- The financial sector, for the amount of unrecovered loans that banks have.
- The rise in unemployment and underemployment.
- Environmental pollution.
- Territorial inequality.
- The aging population.

Nerea

WE WILL SURVIVE

2012-01-09T18:02:00.003+01:00

The Deputy Prime Minister, Soraya Sáenz de Santamaría, has demanded on Monday a"more effort" to citizens and guaranteed them "not be in vain" because the aim is to "create jobs, rebuild wealth and put our country wellness at the place and position in the world who had a few years ago "

However, Saenz de Santamaria has guaranteed that the Government's intention is "to preserve the status of the unemployed, pensioners and all those who a few years ago an effort that required them not their role" in reference to measures adopted by the previous government.
On the other hand, we have a partner who is studying in Cordoba, and we wish you a happy new year, BEATRIZ, we hope see you soon, have fun, and for the love of god, study!! xD We are waiting for you next year with open arms :DJon Mikel

What caused the eurozone crisis?

2012-01-07T00:29:00.003+01:00

The eurozone leaders have agreed new fiscal rules, insisted on by Germany, that will limit their governments' borrowing each year to just 3% of their economies. These rules should stop the massive accumulation of debt and make sure there won't be another financial crisis.

But, they agreed to exactly the same 3% borrowing limit back in 1997, when the euro was getting ready. The "stability and growth pact" was insisted on by German finance minister Theo Waigel. So, what happened?

Italy was the worst offender. It usually broke the 3% annual limit. But actually Germany was the first big country to break the 3% rule. After that, France followed them. Of the big economies, only Spain carried out with its duty until the 2008 financial crisis; the spanish government stayed within the 3% limit every year from the euro's creation in 1999 until 2007. Not only that; of the big four, Spain's government also has the smallest debt in relation with the size of its economy. Greece, by the way, never fulfilled to the 3% target, but manipulated its borrowing statistics to look good, which allowed it to get into the euro. This irregularities were discovered two years ago.

But the markets have other ideas. So Germany, France and Italy should be in trouble with all that reckless borrowing. Well, no. Actually, markets have been willing to lend money to Germany at low interest rates since the crisis began. Spain on the other hand is seen by markets as almost as risky as Italy.

So what caused the crisis? There was a big accumulation of debt in Spain and Italy before 2008, but it had nothing to do with governments. Instead it was the private sector who were taking out loans. Interest rates had fallen to unprecedented lows in southern European countries when they joined the euro. It motivated the increase of the debt.

All that debt helped finance more and more imports by Spain, Italy and France. Meanwhile, Germany became an export industry since 1999, selling more to the rest of the world than it was buying as imports. That meant Germany was earning a lot of surplus cash on its exports and most of that cash ended being lent to southern Europe. But debts are only part of the problem in Italy and Spain. During the boom years, wages rose in the south and German unions agreed to hold their wages steady. So Italian and Spanish workers now face a huge competitive price disadvantage.

So to recap, government public debt, which has grown exaggeratedly since the 2008 financial crisis, had very little to do with creating the current eurozone crisis in the first place, especially in Spain. Spain and Italy are now facing nasty recessions, because no-one wants to spend. Exports are uncompetitive and, now, governments have agreed to drastically cut their expenses.

Xabier

PRESIDENT OF IMF: HER LAST ADVICES

2012-01-01T22:58:00.004+01:00

Christine Lagarde, president of ‘International Monetary Fund’ (IMF) has sent a message to all european leaders asking them for ‘talk in Europe with an united voice’ and to ‘prepare an specific calendar’ that will help us to confront the debt crisis that threats to break the international economic system.

‘International economy is in a danger situation’. Lagarde said this two weeks ago, and she advise that probably the 4% of growth in world’s economy for 2012 can be less than this percentage.

Lagarde remind that this crisis in Europe ‘is a crisis based on the confidence of the public debt and on finnancial system soundness’.

President of IMF has told that investors are waiting for a simple but specific calendar. She said again that all European leaders have to talk in Europe with an united voice; she said this after she had seen the protectionism of a couple of countries.

Erik Rios Salazar

The PP will not give incentives for emancipation

2011-12-31T02:56:00.003+01:00

The Popular Party has decided to not renew the Basic Income for the Emancipation in force since 4 years ago. The government's spokeswoman, Soraya Sáenz de Santamaría, has announced this measure in the press conference.

The Royal Decree of November 2007, that ajusted this incentive, indicated that, after 4 years, Ministry of Urban affairs had to make a follow-up and evaluation report about the implementation of the measure. The decision of maitenance, modification or abolition of the law will depend on the report.

At least 301.254 people received this compensation. 34.303 of them received it in the first half of 2011,12'8% more than in the first half of 2010.

This years budget was 364,1 milion €, but it was increased in 46,1 milion during the last year.

The Basic Income for the Emancipation came into effect in 2008 January and it was directed to young people between 22 and 30 years old that received less than 22.000€ as gross income during the previous six months.

Xabier

Merry Christmas

2011-12-26T16:59:00.002+01:00

ZORIONAK ETA URTE BERRI ON 2012

multilingua team

CHANGES IN SPANISH ECONOMY

2011-12-21T22:21:00.003+01:00

This Friday Spain will have a new president. Today, the future president told us what kind of politics is going to use in the next four years. Here we have them.

One of his objectives is to decreese the public budget deficit in about 16.500m euros. Also he is going to decreese the expenditure of the Spanish Public Administration. He is not going to repair the redundancies of the goverment employees, he will do only in basic services. He will remove the early retirement, but he will maintain them only in special situations. It will remove the days of holiday, the famous bridges (when you take more than one day of holiday), changing the holiday days to Mondays, saying that this kind of change will be better for the Spanish economy. But not all the news are bad, because he had said that he will update the retirement pensions with the IPC (Spanish reference to calculate the increase of the contracts, etc.) the 1st of January.

The economic and the unemployment situation in Spain is really dramatic. Spain has actually more than 5,400,000 people on an unemployment situation, more or less the 23% of the total.

He is going to do three different reforms in different fields. He will reform the finnancial sector and the public sector. The future president had said that the new goverment is not going to spend more than the minimum necessary. For example, one of his important changes will be the limit who is going to put into practice to all the Spanish public institutions, in the expenditure and indebtedness. He will change the finnancial system too, reorganizing balances, and promoving the fussion between different banks. For the public administrations and the factories he will promove a reform of the IVA (it is like a tax that it is impose to commercial transaction).

Erik Rios Salazar

THE BANK EXPECTED A RETURN INTO RECESSION IN SPAIN IN 2012

2011-12-20T15:30:00.004+01:00

The AEB employer warns that it is difficult for private consume pull the economy through containment of wages and unemployment.
Is estimated that the Spanish economy will grow about 0.5% in 2011, far short of the forecast, because it predicts a sharp drop in the fourth quarter of the year which could follow another decline in the first months of 2012.

This way, at the end of March of next year, Spain could re-enter in recession, according to forecasts of economic-financial report in December of the Spanish Banking Association.

On the hopeful side, the employer is probable to achieve the fiscal consolidation target for the deficit does not exceed 6% of PIB this year.

The AEB adds that the Spanish economy has reduced its need for financing and debt but says it is very difficult for private consumption pull the economy if you consider containment of wages and high unemployment.

Jon Mikel

EXPERTS SAY ONLY 7 BANKS MAY WOULD EXIST AFTER RAJOY'S MEASURES

2011-12-19T02:54:00.002+01:00

Everybody is waiting for the measures that the new spanish primer minister Rajoy is going to announce before the 31st of December. Labour reform and financial reorganization for the second wave of privatizations in the Spanish financial sector. This proccess will directly afect to investers; that's why the National Commission of the Stock Market (CNMV) is asking them for inform transparently about the real value of the stockholding. The aim is to not make problems because of irregular sales.

Experts say that no spanish bank may can keep existing without a merger having less than 100.000 milion € in assets. It would mean that only seven financial institution would exist.

This proccess will start in less than 6 months from the annoncement of these measures. It will affect to the stock market, also.

Xabier

THE EUROPEAN UNION HAS A BIG PIMPLE WITH UNITED KINGDOM

2011-12-13T18:25:00.001+01:00

The President of the European Commission, Jose Manuel Barroso, has criticized the UK´s stance for finding the better way to fix the crisis in the European Union. He has asked for a change of attitude from the UK and to its govern.
These words have gone out after a new failure for trying to find a solution at the reform of the European Union. The UK vetoed a treaty for the 27 members for the European Union, arguing it had to protect the Britannic industry and its economic interest.
Despite the veto of the United Kingdom, the President of the European Council, Herman Van Rompuy, said that he hoped to see the new fiscal deal signed by most EU states by early March.
This new deal is designed to allow closer monitoring of countries' spending, in order to prevent a repeat of the eurozone’s current debt crisis.
This attitude of United Kingdom's prime minister David Cameron's, has strained relations between his Conservative Party and the Liberal Democrat, its coalition allies at the govern.
The United Kingdom, in exchange for giving its agreement, asked for a specific protocol on financial services which was a risk to the integrity of the internal market. Criticizing this attitude, the French member of the European Parliament, Joseph Daul, said that "26 of the 27 states have shown responsibility", agreeing that "shared sovereignty is better than sovereignty taken over by the markets".

Aitor

'CAF' COMPANY IS WORKING FOR A NEW CONTRACT WITH SAUDI ARABIA

2011-12-13T00:46:00.005+01:00

‘CAF’ company is working for a new contract to export new trains to Saudi Arabia. The contract is almost closed; and it contains the manufacturing of nine trains. Each train will have five wagons, and a locomotive. It has the option of add five more locomotive and seventeen more wagons. This is the second contract with Saudi Arabia in the last three years. In 2008’s June Saudi Arabia’s National Railways signed a contract with ‘CAF’ to manufacture and maintenance eight trains for four years. The contract was valued in 105 million euros. In the last contracts of ‘CAF’ we can find contracts with Houston in the United States (39 trains) and Auckland in Oceania (57 electric trains). In september, the benefits of the company were 84 million euros, 8% more than last year, 2010.

‘CAF’ is probably the most important factory in Gipuzkoa, in the Basque Country. It’s located in Beasain, and the first creation of the company was in 1860, but it takes its actual name in 1971. It creates a lot of different trains and trams for everykind of cities. For example: Madrid, Barcelona, Bilbao, Washington, Rome, Brussels, Hong Kong, Amsterdam, Pittsburgh, Lisbon, Belgrade and more underground trains are made in ‘CAF’.

So, this is a good new for basque economy. Nowadays we are in crisis time, so everykind of upturn of our economy is good. We need to help our local companies, because they’ll be the best solution for the crisis in the future. We can say that without good and competitive companies, we’re not going to solve unemployment and economic problem in the Basque Country. That’s the reason why now all the political institutions have to help our local companies. If they help our companies giving everykind of material to go ahead, they’ll surprise us with this kind of news. Then, you’ll feel very proud of your country and the good work of it.

Erik Rios Salazar

'CAF' company's factory, in Beasain.

GOEM: Go on and employ me!

2011-12-07T00:43:00.006+01:00

FOURTH DAY

Today was sight-seeing day in Germany. To start the day, we started by waking up, and having breakfast with our families like everyday. Then, we went to the bus station to take a bus to go to different places in the region.

First, we went to Esslingen by bus. There, we visited Esslingen castle, and from there we walked to the centre for a short guided tour. We visited the Christmas and Medieval Market. When we were there, we got something to eat in the Market. Everything was delicious!

The second stop of the journey was in Sindelfingen. In this town, we visited the place where the Mercedes cars are produced. It was incredible! The factory was enormous (the biggest in Europe, and probably in the world), and it was really incredible to see the machines and workers working so fast. A recommended visit!

To finish our visit in the region, we went to Metzingen, a famous place for its factory outlets, to do some shopping. It was really amazing!

To finish the day, we returned to Nürtingen, and then we went to our partner's home. We were very tired.

ERIK RIOS SALAZAR

GOEM: Go on and employ me!

2011-12-07T00:32:00.006+01:00

THIRD DAY

Today was the day. We started our day as everyday in Germany. We woke up early in the morning, and we had breakfast before we went to school. When we arrived to the school, we were very nervous, because it was the day of our presentations.

But first, we do some different things. We were divided into different groups, but in each group there was a minimum of one person from each country. Then, they told us that we had to create a new product, and all the things that people usually do when they create a new product. For example description of the product, name of the company, logo, designs, advertising, price... So, we spent half of the morning doing that job in different groups. It was strange, we were very nervous. We knew that the other presentation was waiting for us.

At 11:15 a.m. we started to present the slideshows we prepared in our countries. We were the last ones, after the people from Norway and Northern Ireland. The presentations of the other schools were very well designed. We were very nervous, but that sensation dissapeared when the presentation started. We felt better then.

After the presentations we went to have lunch at the school’s Cafeteria, and during the afternoon we spent the time finishing our product design project, and then making a presentation about them. It was really entertaining to see all the products that people can imagine!

When we finished, we started to prepare the ‘Comenius Party’. The party started at 18:30, and it finished at 23:00 p.m, It was time to go home, and relax for the next day.

ERIK RIOS SALAZAR

GOEM: Go on and employ me!

2011-12-02T10:55:00.005+01:00

Second day: Albert Schäffle Schule

This was our first day at school. We arrived around 8 o'clock in the morning and we had the chance of meet all the students there. Northern irish, norwegian, german and basque students met all together at rooms 126/127.

At first, we met our pre-desginated partner to make an introduction about the other in front of the whole group.

After that, we divided the big group into small ones and played some games through the school before going to the city.

German students prepared for us a game. It consisted on some German students, distributed through the city centre, would ask us some questions and the groups had to try answering them correctly. The group that could answer all the questions would be the winner. We played it after the lunch break.

We finished the day having dinner all together in a local restaurant.

Xabi

GOEM: Go on and employ me!

2011-12-02T10:25:00.005+01:00

First day: Arrival to Germany

Sunday morning, at 9 o'clock, we met at the bus station in San Sebastian. Our bus was leaving the city at this time. Our flight was taking off at 12:40 pm.
We arrived Stuttgart around 2 o'clock. Our host families were waiting for us at the terminal. They brought us to their hometowns and we spent the whole afternoon with them visiting each one's city, or watching films at home, etc.
We knew that irish students would arrive later in the afternoon. On the other hand, norwegians were arriving at night, but we did not meet them until next day. This was going to be our first day at the german school.

Xabier

GERMAN GLOBAL ECONOMY

2011-11-29T11:16:00.002+01:00

The German economy is the fourth largest economy in the world after the United States, Japan and China. It is the second largest exporter and the second largest commercial surplus. It is also considered the economic motor of the European Union. In addition, Germany is ranked N º 12 in the world in the ranking of countries with higher per capita income.

Germany is economically the most powerful nation in the eurozone countries and Europe in general, followed by France and the UK (which is outside the Eurozone). France is considered its first partner in Europe.

Germany include other parameters like the large number of preserved forest area, according to Eurostat data, and that is the country with more beds in hospitals.

So, in conclusion, we can say that Germany is a country with a good future.

Nerea

Fitch doesn´t believe in Portugal

2011-11-25T08:18:00.002+01:00

Fitch credit rating agency have brought Portugal's credit rating down from BBB- to BB+ and with no promising outlook.

Fitch justifies its decision because of the excessive debts in all the industries and the negative macroeconomic perspectives. Also, the agency has brought the Portuguese outlook down taking into account the European outlook and it's expected to decrease about a 3% in 2012.

Fitch believes that in the next two years, recession will make the deficit reduction plan become harder to carry out and it will be negative for the quality of financial assets. Anyway, the agency thinks that the commitment of Portugal with the plan is strong.

The expectations of Fitch is that the Portuguese debt will rise until 110% in 2011 and it will arrive to the 116% in the end of 2013. This crisis is also a risk for the financial system, that is leaving money to one of the most indebted private sectors in Europe.

So, if the Portuguese investments and work go wrong, it could mean a reduction of the credit rating. In the other hand, to fulfil EU's and IMF's program would relax the credit rating pressure and a potential raising would mean a better credit-profile for Portugal.

Bea

Angola offers help to Portugal

2011-11-20T03:04:00.002+01:00

The angolan president, Jose Eduardo Dos Santos, says that his country is ready to help Portugal, its former metropolis, to fight against the Portuguese crisis.

Dos Santos spoke about it in the final of the two days visit of Portuguese prime minister Pedro Passos Coelho.

Analysts expect a 2.8% contraction of Portuguese economy for next year. In the other hand, their forecast about Angola is that the African country's economy is growing around 12%.

International Monetary Fund (IMF) accepted giving Portugal a rescue package valued in more than US$100.000 millions on condition that Portugal make many reforms, including privatisation of state companies.

In last years, Angolan investments in Portugal have grown and analysts expect these tendencies to continue privatizing many Portuguese companies.

Xabi

GERMANY'S EMPLOYMENT GROW UP IN THE THIRD QUARTER

2011-11-17T13:21:00.005+01:00

Germany recorded in the third quarter the highest level of employment from the country's reunification in 1990, to reach a figure of 41.2 million workers, representing an improvement of 1.2% or 495,000 employees over the same period 2010, according to the Federal Statistical Office (Destatis).

However, Destatis said the increase between July and September is less than 1.3% in the second quarter and 1.4% of the first three months of the year.

In the third quarter, virtually all economic sectors experienced an increase in employment, being the most significant increase recorded in the business services sector (189,000 people), followed by services trade, transport and accommodation (138 000 people ), while 33,000 construction jobs were created.

By contrast, public services, education and health showed a decline of 10,000 jobs over the previous year, largely due to the impact of changes in military service.
Germany achieved in the third quarter, the best figure since reunification employment.

Jon

EACH GREEK CITIZEN SHOULD PAY 20,000 EUROS TO PAY ITS GOVERNMENT STOCK

2011-11-10T20:35:00.008+01:00

This money could be used to reduce the liabilities of the country.

Greece is abusing of common resource, since 70% of the deposits it gets are debts. Between the other countries with smaller debt, compared to their contribution to the GDP (Gross Domestic Product) of the Euro-zone, Finland is apart of the rest, with a debt of 7,000 € per capita.

Greeks are taking their money out from the banks because of fear.

This fear is causing a massive withdrawing of money, 5,000 million € in the last week.

In this situation, the Governor of the Bank of Greece, George Provopoulos, has asked political parties to form a government as soon as possible, to go on with the bailout and clear the uncertainty up.

" These doubts are causing damages to the economy and the banking system". Since January 2010 the total number of deposits in Greek banks has been minimized 21%; these banks are depending more of the ECB (European Central Bank) to that depend more and more on the BCE (Central Bank of Spain) to maintain their liquidity.

Mercè

CAR SALES SINK

2011-11-09T17:14:00.003+01:00

The cars registrations decreased 6,7% in October (57.278 units) in all regions except Baleares (+6.8%) and Canarias (+9.5%) Is the worst October since 1985 (only 45.000 units).

In the first 10 months of the year the sales of cars and SUVs in Spain go down in 19,7%

They are followed by four years in our country under one million in sales of cars per year.

GANVAM (National Association of Motor Vehicle Dealers, Repair & Parts ) says that the dealers only sell seven cars every week, 44% less than before the crisis.

Jon

THE BASQUE ECONOMY IS STILL SICK

2011-11-09T14:09:00.001+01:00

The Economy and Finance Adviser of the Basque Government, Carlos Aguirre, has declared that the Basque Government does not hope a decrease of unemployed in Euskadi during 2012, but he hopes that the trend will change at the third quarter of the year. According to him, the unemployed will be about 10.8 per cent in 2012,; 0.3 per cent minus than in 2011.

These words has been said by him while he was presenting the budgets of the exercise 2012 for the Basque Country, which he hopes vote them at the Basque Parliament at 23 of December.

He has said that with these Budgets the government wants to create employ, giving warranty to the social services and help to the budget stability. He has defended that the Basque economy has gone out from the recession, but it is still very weak to create employ.

The Budget Project is about 10.449 millions €, a decrease of one per cent respect the budget of 2011. The consolidated budget will be an amount of 11.354 millions €, an increase of 0.5 per cent respect to the 2011 year.

He has noted that will be necessary to increase the public incomes to get stability the budget, and in this sense he has said that the Basque society has to do a bigger effort to get all goals for go out quickly from this crisis.

The Government is thinking to do something with the sale of publics property situated in Bilbao, Vitoria-Gazteiz and Donostia, and so to get more incomes for face this hard crisis.

Aitor

Trying to find solutions in Zarautz

2011-11-06T21:40:00.003+01:00

The government team will begin tomorrow a series of meetings with neighborhood
associations to explain the situation and listen suggestions in Zarautz. The first meeting
is going to be tomorrow in the morning with one of the neighborhood of the town.

The principal aim of this is to explain the economic situation of the town and see first
hand the needs of each neighborhood to find solutions.

There will be two meetings per week, every Mondays and Thursdays from 19.30 to 21.00.
The first meeting is going to be tomorrow with the neighborhood association of Vista Alegre. Continuing with Mitxelena neighbors, Itxasmendi, Portu Azken, Kristau Biltoki Zaharra, Iñurritza, Etxezabala and the last meeting will be December 1 with Urteta's neighbors.

Mayor Juan Luis Illarramendi remarks:
"We want to explain the economic situation, receive suggestions of each neighborhood and set priorities among all. There is no money, but there are few resources and we must draw the line of action. In this regard, we appeal to all residents of the town to take part in these meetings.''

Janire

Georgia will accept the access of Russia to the WTO

2011-11-06T19:56:00.002+01:00

Russian and georgian governments will sign a treath the next november 9th that will let Russia join the World Trade Organization (WTO). This joinment was blocked by Georgia.

Sergui Kapanadze (georgian vice-minister of foreign affairs) explained that both countries will decide some basics to choose the company that is going to control the administration of goods and duties. The last decision will be taken by Switzerland, country that has mediated in this conflict.

Kapanadze believes that the chosen company will satisfie both sides of the conflict.

Switzerland offered the international supervision of the tolls located in the separatist regions of South Osetia and Abkhazia. Georgia accepted inmediately this proposal, Russia did the same just some days ago. This proposal includes the electronic exchange of data about the merchandise movement between these territories.

The georgian president, Mikheil Saakashvili, said that this agreement is a “diplomatic win” of Georgia that decided to block the russian joinment in 2008. This block due to the war happened in 2008 august between Russia and Georgia. Russia had asked for joining the WTO since 1993.

Dmitri Medvedev, russian president, had asked Georgia to let the block off as a first step to normalise relations between both countries. Russia, the biggest economy out of the WTO, hopes that its application to join the organization will be accepted in December 15th.

Xabier

Economy of the Basque Country. From industry to turism.

2011-11-06T19:28:00.004+01:00

The economy of the Basque Country, from Industrialization to 1970, has been dedicated to the industry. Blast furnaces, factories, shipyards ... giving 11% of the GDP for industry in the country, a high percentage.

From the 80's, the industry entered in a dangerous crisis and things changed. But it has been able to get out because it is currently one of the richest regions of the country.

Nowadays, with the Guggenheim, its beaches, its gastronomy and its landscapes the Basque Country have important revenue. The tourism. Rural tourism, cultural tourism, or sun and beach tourism have become important revenue for the region. For this reason has centered on tourism.

Nerea

THE LUXURY HOTEL MARIA CRISTINA WILL CLOSE ITS DOORS

2011-10-29T14:21:00.002+02:00

The luxury Hotel Maria Cristina will close its doors during nine months after a very hard and long negotiation. The reformation will cost about twenty millions of euros, four of them will be pay by the city hall and the rest by Starwood, the company which management the Hotel Maria Cristina.

The main point will be the decoration, air condition, pipes and electricity. They are going to change all the furniture but keeping the belle epoque style with lilac, gold and turquoise colors. Other important point is the cooperation with the workers because they are going to be in a ERE throughout the renovation.

The people of Donosti are very glad for the invest of a large foreign company in one of the most important and old building of the city.

See you soon Hotel Maria Cristina¡¡

Beatriz

LAST DAY: A STEP FURTHER

2011-10-25T11:07:00.003+02:00

This is our last day in Daruvar, Croatia. We woke up at 8:00 a.m. and we went to the library, near the city centre. There, we divided in groups, and we prepared some slideshows with the photos we took in different places of Daruvar two days ago. When we finished, we explained the slideshows to the rest of the groups. Then, the Croatian television came to interview us about the project. It was an excelent new experience!

We went to take a coffee before the lunch, that it was in a restaurant near the library. After the lunch, we had some free time before the dinner, so the croatian students propose us to go to the spa again. We went there, and we had a very good time with the rest of the students. We left the spa about five o'clock p.m. and then the croatian students told us to have a good time at night, to finish the experience.

We had dinner and we weared our best clothes to say goodbye to our students. We had a very good time at night in a bar in the city centre, but some people were crying when the party was finishing.

We finished at 1:30 a.m. aproximately, because on Saturday we had the bus to go to Zagreb at... 5:00 a.m.!

We all think that this was our best experience in our life. We made a lot of new friends, we show our city and culture to other countries with our project, and we improved a lot our english... and a little bit our croatian!

Thanks a lot for this fantastic experience!

One group of students preparing the slideshow.

ERIK RIOS SALAZAR

FIFTH DAY: A STEP FURTHER

2011-10-20T23:55:00.005+02:00

Today we had been in Zagreb and we spent the whole day there. We met a guide and he explained us many interesting things and places about the city with the help of some croatian students. We went up onto the sorther funicular of the world!!!! It was fantastic!!!!
After lunch slovenian students went back to their hometown. In the afternoon we had free time and at 7 o'clock we went back to Daruvar.

NEREA

And here, some photos about our visit to Zagreb, the capital of Croatia.

FOURTH DAY: A STEP FURTHER

2011-10-19T22:38:00.007+02:00

Today we spent our morning at Croatians students school. We had made mixed groups
to make a presentation of all the proyect participants countries.

After lunch, the teachers gave us different topics to take pictures about it.

To finish the day with our partners we went to the spa and we had a very good time!

And tomorrow.... ZAGREB! :)

Janire

One of the groups, taking photos near the lake.

Croatian students and we, having fun in the spa, during the afternoon.

THIRD DAY: A STEP FURTHER

2011-10-18T23:57:00.003+02:00

Today we had a wonderful day. We started the day showing our presentations to the other local and foreign students (Croatians, Turkish, Polish, Slovenes) in Daruvar school. We were very nervous before our presentation, but finally we had done it very well and other students and teachers were astonished with San Sebastian and its sightseens. We also were impressed with their countries and cultures.
After that, we went to have lunch with all the students and teachers to a nice restaurant, we ate typical food from Croacia and we enjoyed our menu, it was really good!
When we finished eating we went back to the school and started preparing the project's web page.
To finish our day with them, the Croatian students prepared a touristic walk around Daruvar, showing us its monuments and interesting places. They offered us a local tea and they gave us a coin to throw it to a ''magic'' fountain.

We had a very good time today with all the group and we are looking forward to go tomorrow to the termal spa.

SECOND DAY: A STEP FURTHER

2011-10-18T19:43:00.005+02:00

Our partners are arriving in the afternoon so we visited the area and the city of Pozega.
In the evening we all met and had a welcoming dinner offered by our hosts.
Congratulations to the chefs and all the staff !!!!

Janire and Nerea

Our group, visiting Pozega the first day.

LEONARDO PROJECT. FIRST DAY: A STEP FURTHER

2011-10-16T22:42:00.008+02:00

First meeting in Croatia

Ekonomska i turística skola Daruvar , HR Croacia
Aksaray Hotel Management and Tourism Vocational High School, Aksaray, TR Turquia
Zespól Szkól Ekonomicznych, Starogard Gdanski, PL Polonia
Ekonomska in trgovska sola Brezice, Brezice, SI Eslovenia
IES Xabier Zubiri Manteo BHI, Donostia

Today our day began very early in the morning; at five o’clock. We took the bus in San Sebastian at after three buses and two flights we arrived around eight o’clock p.m. to Daruvar.

We took off Loiu at seven fifty in the morning, and Munich welcome us with cold and people dressed as tyrolese. We took our second flight to Zagreb at eleven forty. Even if this second flight was shorter in the time it was more frightening because of the turbulences.
We arrived to Zagreb at the lunch time and left it at five thirty to get Daruvar at eight o’clock. Three teachers and one student has given us a humble and nice welcome. And just one hour ago we arrived to the hotel to tell you our first experiences in the Balkans!

We, near the city centre of Daruvar, Croatia.

MORE OF AN OUTSTING TO THE DAY IN GUIPUZCOA

2011-10-13T22:11:00.005+02:00

In first half of year, 218 Guipuzcoan families lost their house by not being able to do against the payment of their mortgage.

The hypothecating executions, a drama for affected and an uncomfortable problem for the financial organizations.

121 Oustings were realised in Guip'uzcoa between April and June of this year. A trimester with so many had never been registered.

32010 oustings have had in all Spain in the first six months of the year. More of those than it had throughout 2008 and almost the same amount that in all 2009.

Mercè Sanchez

Finland enlarges the rescue funds

2011-09-30T10:42:00.003+02:00

Yesterday, the parliament of Finland (Eduskunta) approved the extension of the European Financial Stability Facility (EFSF). 103 parliamentarians, the whole coalition government ruled by prime minister Jyrki Katainen, have voted for this extension against 66 votes of the “True Finns” and “Center Party”, the biggest parties in the opposition.

Including this voting, the number of countries taking part in the enlargement of the EFSF is 11. This expansion, that could manage 2 billion €, has been approved by Spain, Belgium, France, Greece, Ireland, Italy, Luxembourg, Portugal, Slovenia and Germany.

Its creation is related to the fragile economic situation of Greece. The decision taken the past June 24th was increasing it with 780.000 million € with guarantees. Anyway, if a loan would be necessary, its credit rating is around 440.000 million €.

It means that the contribution of the Nordic country will rise from 7.900 million to 14.000 million €. So, the EFSF is more flexible to face the Greek situation, that is extending day by day.
Behind this decision, we can find a combination of the confidence of financial markets, the wish of reassuring the European stock markets and the attacks against Spanish and Italian risk premium.

Xabi

THE BASQUE COUNTRY IS TOO EXPENSIVE

2011-09-30T10:31:00.006+02:00

Basque Country´s departments stores are the most expensive of all Spain. Getxo is situated at the first position of this curious ranking, and then are Bilbao and Barakaldo. Vitoria-Gasteiz and Donostia are immediately behind the three cities of Bizkaia.

It is was said a report from OCU, the spanish Consumers and Users Organization. As says this report, behind The Basque Country are Canarias, Navarra, Cantabria and Catalunya.

On the other hand, as the cheaper regions are Murcia, La Rioja and Galicia, in this order, close to Extremadura and Andalucía.

To compare prices can be a good way to get a cheaper basket, decreasing the final quantity up to 37%. As says The Istitutionals´s relationship Director from OCU, Antonino Joya, a family could save more than a thousand € each year with this class of measures.

He says that one of the principal reason for explain this situation in the Basque Country can be the absence of competition at the sector, principally in the case of departments stores as Alcampo or Mercadona, companies both with a politic of low prices.

In the case of taxis, Donostia and Vitoria-Gasteiz are situated just behind of Tarragona as the more expensive cities offering this service.

Aitor

SHOPPING BASKET

2011-09-30T10:07:00.003+02:00

Because of the economic crisis Spanish people are going to spend 400€ less than last year in food. However the principal supermarkets are increasing the prices. The most expensive supermarkets are in the Basque Country, Canarias, Navarra, Cantabria y Cataluña, and the cheapest ones are located in Murcia, Galicia, La Rioja, Andalucía and Extremadura.

This means that people are not buying clothes, going to restaurants so much and things of that nature. I hope that the crisis will finish soon.

Beatriz.

AUF WIEDERSEHEN

2011-09-29T13:37:00.006+02:00

Auf wiedersehen, see you next Monday

BEST REGARDS!!!!

TARGET SALES REACHED

2011-09-29T12:43:00.012+02:00

Our salesmen could feel the crisis effects. Anyway we've reached our sales goals.

Zubirilet SLS has finished the fair with positive results, and have settled its relations with new customers for its future.

CHEERS!

2011-09-28T13:34:00.007+02:00

Today the fair is packed, they are trading. Let's see how much they're selling!

Cheers for a lucky day!!!

VIRTUAL FIRM FAIR IN DRESDEN

2011-09-27T12:05:00.007+02:00

Zubirilet is our virtual firm which sells gift baskets. The workers of the company are the students of 2º course; and right now they're in Dresden selling and buying products in a fair of virtual companies from all Europe

Dresden (Germany)

WELCOME BACK!

2011-09-27T12:00:00.001+02:00

Ladies and gentlemen, here we are back again!!!

We are the new student group in Zubiri. We're glad to start this new adventure.

We're eight young students from different villages of Gipuzkoa, and we meet all together in San Sebastian. We're studying a Finance & Business course. Some of us study in Basque/English and others in Spanish/English.

We're going to do our best!

TAKING SUMMER BREAK...

2011-07-27T12:58:00.002+02:00

If the sun finally arrives to Donostia this year.

Enjoy the summer and we'll be back in September !!!!!!!

All of us are very happy as Donostia will be European Capital of Culture 2016, CONGRATULATIONS

WHAT IS COMENIUS FOR YOU?

2011-05-16T12:28:00.005+02:00

Here you have the video of Comenius week. It is fantastic!!!!!

http://www.youtube.com/watch?v=tZxi_N6fOAs&feature=digest

We did different activities during the week. This is just a sumary of the event.

Half of young basque people have lost their jobs during the crisis

2011-05-15T22:01:00.002+02:00

The OECD confirmed the double speed occurring at the start of the crisis. As the economy begins to return to positive numbers or not so worrisome, although the signals are weak, refuses employment and unemployment estimates will continue at high levels until 2011. In fact, the report comfirms that half of young people under 25 years have lost their jobs during the past year in the Basque Country.

The new economic forecast from the OECD, who met yesteday in Paris, confirmed the two speeds that are occurring across the board at the start of the crisis. As the economy starts a "shy progress" to get closer to positive data.

Cynthia

TELEFONICA WINS BY 1,9% LOWER, WEIGTHED DOWN BY THE SPANISH MARKET

2011-05-15T21:33:00.002+02:00

The deterioration of the domestic market is taking its toll on Telefonica, which saw its net profit decreased by 1,9% in the first quarter of 2011, to 1,624 million euros. The Spanish subsidiary of Telefonica dogged another quarter results saw their incomes fall by 5,6% and decreased its EBITDA (gross operating result) of 10,6%.

However, group turnover increased by 10,7% to 15.435 million, up 1,4% in comparable terms, discounting the effect of the purchase of all of Brazil's Vivo and the evolution of currencies.

In this sense, good performance in Latin America, whose recenues grew 26% (5,7% in comparable terms) and to a lesser extent, in Europe, which grew revenue by 8,4% (2,4% comparable) compensated for the decline in Spain. As a result, the Group EBITDA increased by 9% to 5.574 million euros, but fell 1% to comparable effect.

Mary

COMENIUS WEEK 2011

2011-05-05T11:50:00.004+02:00

Our school takes part in different European projects. This week it is Comenius week and we have prepared an agenda to show our colleagues what we are talking about.

Discovered in the Basque Country: 7,500 previously 'missing' jobless

2011-04-11T12:43:00.001+02:00

The Basque Government has detected 7,500 more people than previous thought who were registered unemployed in the autonomous community's previous job placement service, Langai.

The Basque Vice-councilor for Employment, Javier Ruiz, and the Director General of the current employment service Lanbide, Javier Ramos, revealed the finding during a press conference given on Wednesday.

Following the clearance of lists passed from the former to the current service, the Employment Department, directed by Gemma Zabaleta, discovered that not all the unemployed people signed up to Langai, which operated between 1996 and 2010, had been passed on to the (national unemployment service) INEM.

Specifically, a total of 7,500 people who were on the list of jobless at Langai did not feature on INEM's list, despite the former agency allegedly sending them frequent updates.

With this additional data, the number of people in the Basque Country registered as unemployed goes up from 145,456 to 152,956, the equivalent in percentage of a rise from 10.89% to 11.4%.

By Mónica

COMENIUS:GOEM: BELFAST: 3rd day of the meeting

2011-04-10T15:15:00.007+02:00

The tourism students prepared a day trip to visit the cost of the Northern Ireland, we visited The Giant’s causeway. A specialised guide explained us everything about the incredible columns and THE LEGEND OF FIONN MAC COOL.

The second place we visited was the Carrick-a-Rede Bridge, it was a rope suspension bridge, and we passed it. Cinthya was very brave, she suffers from vertigo but she passed the bridge. Good girl!!!!!

At night we prepared a party in one of the rooms, all peers were invited, the Norwegians came and we were playing cards till…
These are our Norwegian friends

Next day everybody left the hotel very early but we exchanged our emails and shared in face book. We keep in touch!!! We came back to Dublin and the Basque Country.

COMENIUS:GOEM: BELFAST: 2nd day of the meeting

2011-04-10T14:58:00.009+02:00

We woke up very early as always and went to School. The second day task was to work in the Phrasebook we have already started in Zubiri. The groups were mixed and we had to complete the booklet. The topics were different for each group: For instance: Directions, weather, greetings, working interview… We had to write common phases in different languages. Later on, each group made the cover of the booklet and decided which one was the best. Congratulation to Xabi, the cover Xabi's group made was the best. The next task was to perform the sentences but in our partner's language. Would you like to listen to our partners speaking in Basque?

In the afternoon we went to pirate mini golf it was designed with special effects at the course including firing cannons, spitting totem poles... . It was amazing.

COMENIUS:GOEM: BELFAST : 1st day of the meeting

2011-04-10T13:01:00.011+02:00

All partners went to Belfast Boys Model School. The school is huge, new and the classrooms are enormous. Three times our classrooms, the facilities they have you can’t imaging.

We worked in groups. Different countries were mixed to take part in a competition. We had to build a sculpture or a famous building. For example: one group had to build a Eiffel tower, another group La Sagrada familia, another group a Viking ship, London Eye… It was fun, because we had the opportunity to talk to our partners

In the afternoon we went to play bowling. We laughed a lot. We played in team, the students’ team against teacher's team; of course, the students were better.

The euríbor overcomes 2 % in his daily price

2011-04-03T22:30:00.002+02:00

After registering in March his major raise in two years, the euríbor has put on today in April exceeding in his daily rate 2 % (2,013 %), a level that was not touching from March, 2009

The indicator closed last month in 1,924 %, his highest level of last 25 months, from February, 2009, with what it will increase in price in an average of 600 Euros per year a mortgage.Nevertheless, the impact of a raise of the euríbor is proportionally bigger for the mortgages than longer term. And, obviously, it is also major major all is the quantity of the lending.

The euríbor has ranged, in his more than ten years of history, between the historical monthly maximum of 5,393 % that reached in July, 2008 and the minimum of 1,215-year ago-old %, in March, 2010, but till now it had never duplicated the average type of interest that the ECB reminds for the zone of the Euro.

Next Thursday the ECB will approve, almost with complete certainty, a raise of interest rates of a quarter of percentage point, which, according to the consulted experts, the euríbor will push up to 2,25 % or 2,60 % at the end of year, according to the opinion of the analysts. If there are fulfilled these forecasts, who have to check his mortgage in the next months they will see as the increase in the quotas it is going to be every time a major similar pass the time.

María José González

COMENIUS:GOEM: GO AND EMPLOY ME! project

2011-04-03T21:15:00.013+02:00

DUBLIN

Hi from Dublin!
We are very happy because we want to came again to do this project. We arrived yesterday at evening and we saw a little bit of the city. Today we wake up early to see more of the city. we have seen this places:
1.Molly malone: is a sculpture of a woman who sells fish and she also offers her body.

2.Trinity college: is the most important university of Dublin. Is one of the most famous and it has one oldest library of Ireland.

3.The Castle of Dublin: was until 1922 the fortified seat of British rule in Ireland and is now a major Irish goverment complex.

Tomorrow more notices from Belfast.
Cynthia, Mary, Sonia, Saioa, Xabier and Beñat

Discovered in the Basque Country: 7,500 previously 'missing' jobless

2011-04-01T12:46:00.000+02:00

Brussels proposes to make changes in the transport sector

2011-03-28T16:51:00.001+02:00

The European Commission has proposed to finish with the gasoline and diesel fuel cars. In the proposal they want to end with conventional fuels by 2050. In this way the transport sector will become more competitive and less polluting.

Siim Kallas, European Commissioner for Transport said, "We can stop depending on oil used for transportation without impairing its efficiency and mobility. "

The targets that had proposed in Brussels are these:
- Reducing in a 40% the emissions of the maritime transport.
- Obtaining the reduction of 40% on carbon dioxide of the fuels used in the aviation.
- Getting that the half of the people that uses the car for going to short distances change to the public transport.
These measures will reduce by 60% of contaminant emissions compared to 1990. In addition the European Commission wants to achieve a single European transport area by 2050.

Greenpeace said that a reduction in use of cars does not solve anything, if they do not offer solution.

Another idea of European Commission is to triplicate the size of the European network of high-speed rail by 2030. They calculated that we can reduce in a 50% the fuel consumption by 2030 and stop completely in 2050. Accordingly, it would support the use of electric cars.

The European Commission wants to promote a great improvement of roads connecting between airports and train stations. But all these reforms meant an investment of 1.5 billion euros.

Saioa

The leaders of the EU sit the base of the economic government

2011-03-27T22:05:00.004+02:00

The bases of the architecture of the economic government of the EU remained established yesterday in the wide agreement reached by the leaders of Twenty-seven countries of the EU.
Besides monetary politics, the Union will start possessing the first instruments to elaborate an economic politics common European. The European Advice approved yesterday the instruments for this major economic governance that they are the Agreement for the Euro Bonus, the bottom of rescue (European Mechanism of Stability, MEDE), six legislative offers that reinforce the budgetary vigilance and the Agreement of Stability and Growth, and the severer accomplishment of endurance tests to the banking.
The Agreement for the Euro Bonus consists of a series of commitments that must assume the members of the Euro and other countries of the EU that voluntarily they it want to sign to stimulate the competitiveness
Such as
To promote the employment
To assure the sustainability of the public finance
And to reinforce the financial stability
The Agreement of the Euro Bonus, signed for the present time by other six countries (Poland, Denmark, Bulgaria, Romania, Lithuania and Latvia) has his origin in the German requirements to demand major efforts to the countries to improve his competitiveness and as condition of which Germany was accepting a bottom of rescue for the countries with difficulties since it has been the case of Greece and Ireland.

The European Advice passed also to create from 2013 the MEDE that foresees a bottom of 500.000 million really available and of which Germany is his principal contributor with 27,1 %.

The bottom will possess the capital spent of 80.000 millions

Six legislative dispositions approved yesterday to reinforce the economic governance, include a reform of the Agreement of Stability and Growth, reinforce the budgetary vigilance and new dispositions are established to reduce the macroeconomic imbalances.

MARIA JOSE GONZALEZ

A group Navarre manufacture electric cars in Jaén.

2011-03-27T21:54:00.001+02:00

Diversify or die. Foundries signature Mecacontrol, Santana Motor provider and a subsidiary of Navarre Mecacontrol, has decided to bet on electric vehicles. To do this, will invest 15.2 million euros in its factory park Linares providers to produce an electric car based on the Massif SUV model that came out of the facilities of the regional government-owned company.
After the crisis of the sector and the end of the production of Santana, has chosen to diversify their production in the park Linares. So, will invest more than 15 million to adapt its facilities to two new lines of business.
The primary will be the manufacture of an electric vehicle, which has already been approved, based on the model Massif, made with Iveco.Este project was announced just six months after the parent group achieved an agreement with General Motors to supply the adapter for Europe Plug Ampere and Volt models of Opel, the two versions of the electric car maker intends to market in 2012.
The second line of diversification of the firm is the deal with a French supplier companies of Renault to manufacture the housings to be used in the plant that has Sevilla.Para both lines, the Ministry of Industry has put forward a loan two million euros through Reindustrialisation Program, set in the Active Plan Jaén. Is expected to generate 211 jobs.
This project is the first move made in the supplier park Santana after the announcement of the Government of Linares Plan Future, which disappears as such the group and born five projects are: a contact center, security and communication technologies,factor creating software, a plant fiber, and a maintenance center.
cynthia

The boxes will be asked to cover 6,000 million recapitalization

2011-03-27T21:28:00.000+02:00

Savings banks seek public funds to study through the Bank Restructuring Fund (FROB) for a maximum of 6,000 million euros, representing a third of the capital needs of a total of EUR 15.157 million identified by the Bank of Spain, according to financial sources. The boxes do not meet the new solvency requirements set by the Government must be submitted by Monday, March 28, the Bank of Spain for its recapitalization plan, which must specify its strategy to achieve the level of capital required, 8% for listed companies and 10% for the rest.

The central bank will review the plans until 14 April. The states with capital needs have analyzed all the ways to strengthen its solvency by its own means and recourse to public funds as little as possible, so that in recent weeks there have been approaches in the face of new mergers and reviewed the entry of private investors in the capital. The initial reluctance of banks to use public funds, involving the nationalization of the company and was seen by some as an admission of its inability, has been waning as patents have been low market valuations.
Mary

Industrial prices rose by 0.8% in February 2011 in the Basque Country

2011-03-25T13:46:00.000+01:00

Industrial prices in the Basque Country rose by 0.8% in February 2011 compared to the previous month, according to EUSTAT data. The year-on-year rate for February, which indicates the fluctuation in industrial prices over the last twelve months, therefore showed growth to be 5.0%.

A more detailed sectorial analysis shows that the most inflationary branches in February 2011, with respect to the previous month, included "Coke Plants and Oil Refining" (3.9%), "Electricity, Gas and Steam" (1.9%), "Food, Beverages and Tobacco" (1.6%) and "Extraction Industries (1.1%). On the other hand, the sectors that post decreases in their prices were Computer and Electronic Products (-2.3%), Electrical Equipment and Material (-0.6%), Rubber and Plastic (-0.3%) and Timber, Paper & Graphic Arts (-0.1%).

During the year-on-year period, February 2011 on February 2010, the highest price rises were recorded by Coke Plants & Oil Refining" (24.4%) Electricity, Gas & Steam (23.6%), Metallurgy (10.1%) and Food, Beverages & Tobacco (8.3%). On the other hand, prices fell in "Extraction Industries" (-6.7%) and "Pharmaceutical Products" (-1.0%).

According to the Classification of Goods by Economic Destination, the February price evolution of large sectorial groups was as follows. the price of Energy rose by 3.4%, Intermediary Goods were up by 0.5% and the prices of Capital Goods increased by 0.1%. The prices of Consumer Goods overall remained steady (0.0%), as the result of the slight increase in Durables (0.5%), as Non-Durables remained stable with respect to the previous month (0.0%).

The price evolution of these large groups of goods also increased in all cases over the year-on-year period. Energy prices increased by 24.1%, Intermediate Goods by 8.7%, Capital Goods were up 1.8% and Consumer Goods registered a 2.8% increase. Among the latter, the prices of Non-Durables rose 3.6% while Durables were up by 0.7%.
By Mónica

The Stock Exchange is positive

2011-03-21T15:57:00.001+01:00

The main indicator of the Spanish market, the Ibex 35 index, rose 1.24% in the first minutes of a session in which investors viewed with some relief the developments in Japan, where ever farther from the possibility of a nuclear crisis, and Libya. At 09.10 hours the Spanish selective recovered 129.60 points and stood at 10,458 units, while the General Index of the Bolsa de Madrid, with all its sectors in positive, advanced 1.25%. The benefit accrued from earlier this year by the Ibex 35 reached 6.05%.
No references Nikkei in Tokyo, where today was a holiday, investors continue to monitor the evolution of the nuclear crisis in Japan and the Allied advances in aviation in Libya. Until Friday not know the relevant reference week, the third estimate of U.S. GDP, a day before EU leaders inaugurate a summit in Brussels will deepen and concretize the agreements made two weeks ago.
Spain faces quiet morning with the issuance of debt last quarter, letters to three and six months, one day before its annual results this Inditex.
Major European stock markets began the week with increases of 1.47% in Paris and 0.85% in Milan, after Wall Street closed Friday with progress, the last day of a tense weeks of the year.
Within the Spanish selective OHL achieved the highest rise of 1.82%, and as for the great values of the market, Telefonica is revalued 1.73%, Santander, 1.39%, BBVA, 1.7% , Iberdrola, 1.10%, Repsol, 1.14%, and Inditex, 0.93%.
The rising euro opened today in Frankfurt foreign exchange market and was trading at $ 1.4166 compared with 1.4139 the previous day, while a barrel of Brent crude traded at $ 115.72, 1, More than $ 79 at Friday's close.
cynthia

Unemployment up 1.6% in the Basque Country in February

2011-03-20T22:31:00.000+01:00

The number of people registered as out of work and seeking employment by the public employment service of the Basque Country rose by 2,238 during February (a rise of 1.63% compared to January 2011) putting the total number of unemployed at 145,456.

Compared to the previous year, 8,313 more people were registered unemployed in February, 6.06 % more, according to figures released by the Ministry for Work and Immigration.

With regard to the three provinces of the Basque Country, Biscay registered the greatest increase in unemployment with a rise of 1,573 jobless, taking the total number to 81,303. The number of jobless in Gipuzkoa rose by 434, taking the total to 41,906, while Alava ended the year with 22,247 people out of work, a rise of 331 in February.

In Navarre, the number of people out of work rose by 716 in February, 1.59% up on January taking the total number of jobless up to 45,886 according to Ministry figures.

State-wide figures

Spain says the number of people filing for unemployment benefits rose last month to a new record as the country struggles to overcome recession. The Labor Ministry said Wednesday that those filing claims increased by 68,260 in February to just under 4.3 million.

Spain's actual unemployment rate is released separately every quarter and now stands at a eurozone high of just over 20 percent, with nearly 4.7 million jobseekers out of work. That's different from the claims number because many people's jobless benefits have run out.

Deputy Labor Minister Mari Luz Rodriguez said Wednesday's figure was not good news, but stressed the increase was smaller than those posted in February of 2010 and 2009.

Mary

--------------------------------------------------------------------------------
Comments:

CCOO and UGT convened from tomorrow partial strikes in telemarketing companies to force the negotiation.

2011-03-20T21:47:00.001+01:00

CCOO and UGT have called stoppages partial telemarketing companies, which employs about 6,000 people in Castilla y León, in order to force the collective bargaining agreement, which expired in late 2009.Union representation has prepared a program stops 15 minutes in each of the three shifts on Mondays and Wednesdays from March 21.
The proposal by the employer, that has not been moved or mediated by the state labor relations service (SIMA) was to make the representation of employees agree to change terms of the agreement that made it difficult trying despido.De so that all and female employees may be dismissed with the minimum compensation of 20 days referred to in the recent labor reform. The platform presented by CC.OO. tried to keep the current working conditions and to ensure wage revision clause ensuring purchasing power of some workers who come to have wages of 800 euros per month.
The union has had to go to court once and for companies to recognize the increase of 2.2 percent agreed in the agreement for 2009. Since then the meager wages of workers has not moved since the ACCE employer refuses a reasonable negotiation.CCOO union representation denies the reasons argued by the employer to keep improving the working conditions of workers by pointing out the culpability of the companies that hire telemarketing services, like banking, insurance, government, energy and telecommunications companies. According to the employer, the tough trading conditions with which contract their services entail losses prevent them from improving the collective agreement, which denied the workers' representatives, said Committees.

Ion Ander

The merger of the Basque savings banks has become an impasse

2011-03-20T17:51:00.003+01:00

The economic outlook is in full swing. It is a process of conversion of Spanish savings banks. While Basque banks still have not reached an agreement. The merger of BBK, Caja Vital and Kutxa has entered a phase of impasse. After having the possibility of full integration, trading has been cooled without clarification. Although the 3 entities will soon have to choose the way to gain size and become more competitive.

While the rest of Spanish savings banks are moving at high speed due to the decree of recapitalization of financial institutions. Basque institutions have leading positions in credit. But they have not finished the process of merging.

It is the third attempt at integration that result swamped. Basque banks can not afford to sit back, because other banks are being strengthened.

At the moment nothing is known. In the coming weeks should reach a conclusion. Otherwise the negotiations could last until June. Although political representatives want an answer immediately. Socialists understand that the merger can not wait any more, because the financial market "is a tsunami that moves and / or you take size, muscle size, or if not, you're lost." They also say that if Kutxa continues blocking the merger of three, will become a fusion of two.

But if the process is too long, BBK has already warned he will not resign to resort to more purchases to gain size, a move that definitely dynamite the merger of three, as Kutxa have the same right to do the same.

Saioa

Support Japan

2011-03-18T13:54:00.003+01:00

With this post in the blog, we want to send you from Donosti all of our support to the people that have been affected, by the natural disaster that have happened in Japan.

We send you the most sincerely condolences to all families that have lost their loved ones,we hope that this will be solved as soon as posible.

We are with all of you!!!

By:Cynthia Alfaro, Saios Aranburu, Iñaki Benavente,Susana Espilla,Borja Etxeberria, Jone Etxebeste, Mari jose Gonzalez, Ion Ander Gonzalez,Monica Mendez, Mari Carmen Moreiro and Sonia Santos.

TOLEDANO TAKES OVER

2011-03-13T23:37:00.003+01:00

This is the man who Galliano sent to the galleys. Passionate about the bulls, the president of Dior, of Sephardic origin, feels 'the master' of luxury.

The Dior catwalk again be occupied. With John Galliano held at a clinic in the Arizona desert, where he tries to combat his alcoholism and other addictions, Sidney Toledano has taken over the designer. The president of the 'maison' moved last week a strong message to the fashion industry to make it clear who is boss in this business and cut the eccentricities of the estate workers, by 'cool' they are. Nonsense, the fair. "Everyone who comes to Dior must have the humility to see how the shops and the catwalk," he warned. Accustomed to the circus productions of Gibraltar, the mathematician of Sephardic origin was postulated as the king of the track.
The weight of Dior, a brand that threatened to ruin the mid-eighties, in the fabric of LVMH is tremendous. Gallic group raced last year the crisis with a turnover of 20,000 million euros and a profit of 3,000 million. The 'big boss' has a lot to do with the recent conquest of the Chinese market. "My eyes are detectors of all that can go wrong," he stresses. Since taking the reins in 1998, is determined to "protect culture" and how "unique" in that Dior - "a religion in which you have to believe" - should be presented to the world
When Bernard Arnault, owner of the biggest global luxury group, laid eyes on him, ran the company Toledano Lancel bags. Its first task was precisely to develop the area for bags, gear essential for the most exclusive brands. "With these cuts there are not problems of size. Are less subject to fashion than clothes or shoes and are cheaper than a dress, "he argues.
Born in Casablanca and the son of a Moroccan who was allied to the Spanish Republican side, Toledano nailed with its strategy of manufacturing all the products of the legendary French house and stop licensing
The secret of his character is funny in its origins, he has been dancing flamenco with Galliano. Without naming the Moroccan executive dismissed the significance of this loss and said that the greatness and "Dior heart lies in 'les petites mains'' this army of anonymous workers' white coats' away from the spotlight and made by craftsmen and seamstresses.
It is true that even the "intolerable" racist incident, the relationship was almost idyllic. Shared "a Spanish mentality," his passion for bullfighting - "sometimes visualize the bullfighters and I think I've been brought up well" - and his desire to "fight." A Toledano, who likes to go to the Bernabeu to watch Real Madrid matches, it passes through Spain, he drooled increasingly coming parades. Last night he sat in the studio to watch Galliano. I had the feeling of facing a "filmmaker or a painter." An artist, in his opinion, "very professional, shy but not arrogant" and a "single eye" that allows you to see beauty where others see nothing. "Dior is the sun ', finished last summer.
They were "perfect match" and had found a "'feeling'" that "do not learn in Cambridge or Harvard," admits the president, life taught him to "look." With only 18 arrived in France and began to set in Paris, which allowed him to develop a greater sensitivity to fashion. Why did not hesitate to dispense with Galliano. "When everything goes wrong, I'm more optimistic than anyone. After the blue sky, dark clouds coming, "prophesies. When they arrive, "I'll be ready." Because something is 'the master' of Dior. Luxury

Sonia

Zapatero is going to adjust wages to productivity

2011-03-13T23:05:00.002+01:00

President requires a flexible bailout fund for countries with debt problems.
José Luis Rodríguez Zapatero, has sent a letter to the permanent European Council president, Herman Van Rompuy ,that is accepting adjust wages to productivity, one of the measures contained in the Covenant adopted by the Euro on Friday that the eurozone leaders at the request of Germany.
That implies to have more attention for the labor market. If they align salaries and productivity, is going to increase the employment and the training of the workforce.
Zapatero claims that opening up protected sectors is very important. He believes in the liberalization of sectors linked to the overall economy: professional services, energy or the digital economy.
It also asks the Commission a greater effort in evaluating the reforms that each country of the Covenant.
The Moncloa sources have insisted that the wage adjustment is the responsibility of the bilateral negotiations between employers and unions, which have until March 19 to reach agreement.
The Euro pact obliges Zapatero and other leaders of the eurozone to announce new measures to improve competitiveness in the March 24 summit.
The Government could undertake to carry out some reforms. Although no negotiations have been completed taking into account the reform of collective bargaining and employment policies.
During the summit of the eurozone to be held this Friday, Zapatero defended facilitate flexible bailout fund for countries in debt and strengthen its financial capacity.

saioa

All financial institutions are eligible Basque capital

2011-03-11T14:59:00.000+01:00

There were no surprises. As expected, the Basque financial institutions meet the capital requirements set by the central government, so they will not have to resort to raising funds for any of the routes covered by the Royal Decree of Recapitalization recently approved by the Executive.
The Bank of Spain announced yesterday the list of banks and banks have to strengthen their capital to achieve the expected ratio. A list that had raised much expectation, although in the case of the Basque Country left well enough alone. That is, Kutxa, BBK Caja Vital and not have to be recapitalized. Nor should it Iparkutxa Caja Laboral, BBVA, Banco Guipuzcoano Bankoa and integrated in Sabadell.
For Kutxa and BBK, the requirement is 10% to not be listed and relying more than 20% to wholesale markets. However, Caja Vital will set a ratio of 8%, precisely because he justified the wholesale market leverage of 18.18%. However, as explained yesterday the entity Alava, the box comfortably exceeded this requirement, since the Bank of Spain assigned a principal of 810 million, representing a ratio of 13.13% over risk-weighted assets.
A Kutxa, the supervising agency recognized a starting capital of 1,976 million and BBK, which will include the purchase of Cajasur of 3.604 million. Neither did the public entities that throws the capital ratio, as the Bank of Spain merely states that meet the required 10%.
cynthia

Moody's lowers a step the note of the Spanish economy

2011-03-10T12:05:00.003+01:00

The agency of measurement of risks Moody's has reduced today the qualification of the sovereign Spanish debt of Aa1 to Aa2, with negative perspective.
The agency makes clear that the costs of the restructuring of the financial system will be major of the foreseen for the Government and will provoke an increase of the deficit. It indicates besides the fact that the Government has a control limited on the autonomous communities.

The cut of the note has had an immediate impact on the markets, both of debt and of variable revenue in that the values are present with the brand Spain, and has reactivated the punishment against the titles of the Exchequer.

In I make concrete, Moody's, one of three agencies that dominate this business close to S&P or Fitch, he thinks that the eventual cost of the bank restructuring, which would be about 40.000 or 50.000 millions, might exceed the current estimations of the Government and lead to a major increase of the percentage of national debt. In case of taking place a context of " great stress ", indicates Moody's, this quantity might reach 120.000 million Euros.

The FROB, also to the fall

Likewise, Moody's has reduced today the qualification of the Fund of Tidy Bank Restructuring (FROB) of Aa1 to Aa2 also with negative perspective, provided that the liquidity of this bottom depends entirely on the Spanish State.
The obligations and the Spanish warehouses are not affected, it continues the note, for the reduction applied today, and supports Aaa's note, higher that applies Moody's, and on line with the joint qualification of the zone of the Euro.

María José González

Basque utilityIberdrola initiates negotiations for merger with Renovables subsidiary

2011-03-09T13:19:00.000+01:00

The Board of Directors of Basque utility Iberdrola, meeting on Tuesday in Madrid, agreed a proposal to the Board of Iberdrola Renovables which met in the afternoon in Valencia, to initiate negotiations for a merger by absorption of the renewables subsidiary by the parent.
Iberdrola has proposed an operation equivalent to 0.499 of its own shares for each Iberdrola Renovables share, valuing the subsidiary at 2.978 euro per share or a 16.7% premium over its average share price for the last six months.
The operation will involve Iberdrola voting in favour of the distribution of an extraordinary dividend to be proposed by the Board of the subsidiary at a shareholders meeting, provided the amount is equivalent to 40% of the stated share value of 2.978.
In the event of the dividend obtaining approval, the exchange ratio would be modified to 0.299 IberdroLA shares per subsidiary share. For this purpose, the parent company would raise capital by 246.6 million shares.
The merger by absorption proposed today by Iberdrola improves the ratio at the time of the original Iberdrola Renovables share offer in December 2007, with a premium of 2.7%, and will give existing IBR minority shareholders access to a solid stock with high liquidty and attractive dividend yield.
Through the proposed transaction, Iberdrola seeks to extract value from Iberdrola Renovables that has not been reflected in its share price since the flotation, with its continuing development as an independent business unit headquartered in Valencia. The transaction closing, following approval by the respective Annual Shareholders Meetings, is expected in July.
The world's leading wind power company Iberdrola Renovables has a presence in 23 countries and is world leader in its sector, both in installed capacity with more than 12,530 MW operational at the end of 2010, and also in production with more than 25,400 million kWh last year. The company has a market capitalization of 11,435 million euro at the close yesterday's close. Last year it obtained Ebitda of 1,456 million and net earnings of 360 million euro.

By Mónica

Dresser-Rand buys the Basque company Guascor

2011-03-06T17:50:00.009+01:00

The North American company has acquired 100 % of the Basque group Guascor, dedicated to the supply and exploitation of equipments and energetic and shipping facilities, in an operation of approximately 500 million Euros.

With this operation, Basque Country loses the control on one of his principal industrial companies. Guascor is between 50 principal Basque signatures for volume of turnover, with a few annual sales that they overcome the 300 milones of Euros, an important volume but to many distance of his buyer, who deposited last year 1.425 millions of Euros.

Dresser-Rand dedicated to the development and manufacture of capital goods for the sectors of the gas, oil, petrochemical and industry, possess in his board of directors the president of Guascor, Joseba Grajales.
Once incorporated into the new group, Guascor will turn into the World Center of Excellence into the area of sustainable solutions into the sectors of environment and new energies of Dresser-Rand with the current management team.

This strategic operation, according to Guascor, strengthens his managerial project and makes possible an intense and increasing internationalization and penetration new markets. In addition, it will facilitate the development of new products and services and the integration in an extensive commercial network, of technological centers and units of research and development. With presence in more than 140 countries in five continents. The impact of this operation in Basque Country will be translated, at once, in an increase of Dresser-Rand's manufacturing activities, with repercussion in the network of suppliers and the managerial fabric of the country, as has announced the Basque company.

On the other hand the heads of Guascor and Dresser-Rand claimed that there is no risk of relocation of factories that the group has in the Basque Country

María José González

The precious 666 Fifth Avenue

2011-03-06T15:03:00.002+01:00

Zara is reinforced in New York, and his last real estate transaction in the city of skyscrapers is more than the mere signing of a purchase agreement for comercial space.
The figures used in these two operations gives dimension to real estate is at stake. Zara announced in Friday that it paid $324 million to buy the space occupied by the shop American Basketball League in the corner of 52 street, where tourist come looking for shirts of Pau Gasol and other NBA stars. That makes Zara a protagonist in one of the largest real estate transactions in the history of New York, if the calculation is what you pay for every meter of the 3.600 that will have the local. The location could not be better, located a few meters from the MOMA, St. Patrik's Cathedral, Rockfeller and the full prestige stores such as Tiffany, Bulgari, Cartier and Bergdorf. But Uniqlo is ahead. Japanese tycoon mark Tadashi YAnai recently closed less than a year an agreement to rent in the same building on the corner of the 53 avenue, that occupies the equivalent space of the NBA, Abercrombie, and H&M together. That, in numbers is equivalent to 8.350 meters square, for which paid $300 million to rent 15 meter squares. The rent in this area is around $125 a square foot, or about $1.340 per square meter. But with the mass of tourists stills come to Manhattan, will take time to begin to recover the money.
cynthia

Galliano for Dior glares at her "I love Hitler"

2011-03-02T15:56:00.003+01:00

"People like you should be dead. Your mother, father, all in the gas chamber"

These are the words that have made the fashion house Christian Dior is living a conjunctural moment, John Galliano, the star of the fashion world, is facing legal charges and is outside the firm.

The avalanche of comments were swift, as is the case with Natalie Portman who is Jewish and strongly criticized the designer, stating: "I am deeply shocked and upset by the video of the comments of John Galliano", to which he added did not want be connected in any way with the designer, why to wait to know the course that will take the advertising contract of the celebrated Oscar winner with the firm, as the image of Dior Cherie.

Outside the costs of lawyers who can bring the popular disgust with this unfortunate incident will affect economically to the brand and the bad publicity that results in sales of the collection is coming, says specialist in fashion, Fashion Director of Radicals, Catherine Villota, but in speaking of the fashion house concludes that "it is not viable to be destroyed by the incident.'s legacy is very powerful Dior and Galliano before".

For its part, Izi Grinberg, a respected member of the Jewish community says the fact that "The House of Dior should not wash their hands now, it's amazing that such a prestigious brand director was unaware of the profile of Fashion. The world does not need be given the title 'genius' to anyone who admires Hitler. "
Although it is a difficult case of mixed feelings where passion for fashion as a means of expression is embodied in a controversial character and confronts the absolute rejection of anti-Semitism in any form of expression, only one question remains to be done, could it be that the Galliano reputation can be saved thanks to his contribution to the world of fashion and glamor, exempting the social rejection?, so only time will tell us.

Sonia

The price of green peppers, apples and beans rises in February

2011-03-02T08:17:00.003+01:00

Winter frosts have caused the price of green peppers has raised 12.30% in February. According to the relationship that manufactures each month the Ministry of Industry, Tourism and Trade, green beans and apples have also risen by 2.5%. Despite these results, farmers and ranchers grouped into COAG report that prices in the area have fallen by 11% on average, but the profit margins of food have increased by 19% YoY. Reveal that the amount is multiplied by 4.35 in the journey from the farm to the table. The price of citrus and fresh fish fell last month. Oranges and lemons are in season, and that meant that the amount has decreased by 5.8% and 4.96%, respectively. They have also recorded reductions in the cost of hake (-5.20%), whiting (-4.32%) and whiting (-4.15%). Of course, the 'bubble' of lemons seems to have finally exploded after falling 7.91%. Colpisa

Cosmobelleza & Wellness, your professional meeting Hairdressing, Aesthetics and Wellness

2011-02-27T21:58:00.003+01:00

Internationalization, training and business are the three bets with that part Cosmobelleza Group to create a platform that contributes to the momentum and the engine of the beauty market in Spain, and serves as a hub and meeting point for exhibitors and professionals from around the world.

It seeks, year after year, reflecting the globalization of knowledge, products and services to achieve, together, the total professionalism of the sectors that make up the beauty.

Dosed work, day after day, through any medium of communication that are Cosmobelleza Group allows you to find the keys necessary to provide the best training for professionals attending the International Beauty Salon & Wellness Cosmobelleza looking for specific knowledge and trends promote and position your business:

• Congress of Aesthetics
• Spa and Wellness Days
• Classrooms Barber Shop

• Technical Board of Barber
• Technical Chamber of Aesthetics
• Body Make-up Competition
• Hair Fashion Catwalk Barcelona
• Nail Demonstration Zone
• A day with the Franchise

All actions carried out by Group Cosmobelleza intangibles with manufacturers, distributors and wholesalers around the world and the daily continuity of all special and exclusive programs that take place during the 365 days a year can support the role of distributor and wholesaler in the market professional cosmetics.

The extension of this work is reflected in achieving another year of the Business Rounds, the development of a daily work towards the unity of commonality of interest between the different actors of professional beauty market.

The International Cosmobelleza & Wellness, in its 17th edition, has become the ideal meeting point to find the best training and promote the business sectors of hairdressing, beauty and wellness.

Sonia

She worked 17 hours a day for 800 euros

2011-02-27T16:42:00.000+01:00

Until he was fired a month ago, Rene Conde was a day of 17 hours a day, which increased to 20 on weekends, for 800 euros a month and no contract.Worked as domestic servants for a wealthy family in Madrid. Did everything: ironing, sewing, shoes, running errands, carpentry, cooking, cleaning, plumbing ...In December, gave leave for the first time, until 10 January. Upon returning, he was fired, along with another servant. René's journey began at 6.30 pm, preparing breakfast, and ended when the last family member had gone to bed. Weekends, "the gentlemen went out to dinner and returned at three o'clock, " he recalls. Sometimes, he and another employee arrived to attend dinners with up to 53 guests.René complaint that forced him to take the children away. "The gentlemen were aware that he had no license and I knew there was jail if I got caught behind the wheel. I was shaking, " he admits. At home, the two servants ate leftovers remaining. "If the owners had more hunger and repeated, not dined, " he recalls. Neither gave her clothes and had to ask in a parish.
Without papers, health insurance, right to strike, vacation, retirement ... "The salary is the only incentive that the immigrants in the economy, but thousands of them fall into stifling operating systems, "said Secretary of Social Policy CCOO Madrid, Ana González. "It's the twenty-first century slavery" statement.The Ministry of Labor conducted between January and September 2010, a total of 65,353 workplace inspections, which found 5002 violations. Of these, 92% was because of immigration, mostly from irregularly employed undocumented. The remaining 8% corresponds to discrimination by sex, irregularities in the promotion of employment or deficiencies in the integration of disabled people.
UGT attended in 2010 at its headquarters in Madrid 162 cases of abuse and exploitation. By their vulnerability, both UGT and CCOO serving immigrants if they are not union members or have their documentation. Construction, catering, domestic service and agriculture are the main trench of the exploiters.
The Aliens Act provides a formula to combat the underground economy and undocumented slavery: the roots work, which allows to regularize the situation of undocumented if you report to your operator. It is necessary to present the resolution of a judge or the infringement of the Labour Inspectorate, show two years of stay in Spain (the last six months, working) and have no criminal record.

Mary

The government have limited the speed to 110 km/h on motorways.

2011-02-26T16:44:00.002+01:00

From the 7th of march the maximum speed will be 110 km/h. The government has taken this step to save oil. They had not taken this step since the 1973 oil crisis.

Now there will be more checks on the charge of the prices of the oil distribution companies. They will analyze the evolution of consumer prices compared with costs, and try to get the further development of competition.

They has also imposed a 5% discount on tickets of Renfe (train) short distances and medium distances.

All these measures are to encourage energy saving. We have to combat rising oil prices. In a week has risen to $ 120 a barrel, to stand yesterday in $ 112.

These measures will remain for the duration of the tensions in North Africa.

Saioa

Telefónica earns 10.167 millions in 2010

2011-02-25T14:22:00.000+01:00

Telefónica close the 2010 with 10.167 millions euros of benefits, more than 30,8% of last year. The extraordinary assume 2.164 millions of euros which include the positive adjustment in live and the negative of the restructuring of the expenses.

The group says that this results carry out the objectives of the market and it agrees with the proposal of share out the benefits per shares of 1,60 euros with a charge of the results, more than 14,3% last year. However this benefits are below the market prevision that respect over 11.000 millions of euros.

The incomes were 60.737 millions of euros, with an increased of the 7,1%and the result of the recovery with 25.777 millions, with the increased of the 14%.

cynthia

'The Telegraph' ponders Basque Cooperative model

2011-02-25T13:13:00.002+01:00

At a time of recession and global financial crisis, it seems that many are looking around for an alternative to the cutthroat and individualistic model that has arguably brought many economies to their knees.

Just four months after liberal US news website the Huffington Post came out in praise of the Mondragón Cooperative Corporation (MCC)'s "commitment and approach" to both business and people, UK daily The Telegraph has been weighing up its pros and cons.

Even the normally Conservative UK paper can find little to fault in the MCC's set-up of "85,000 'worker owners'", its innovative successes - "Orbea bikes that won gold at the Beijing Olympics" - or the fact that top scale bosses earn only three times more than the lowest paid worker, and not the 202 times that is currently the norm in "big Western companies".

However, the paper still questions whether the Mondragón model is exportable, pointing out that none of the MCC's plants in the rest of the world (China, India, Latin America or Europe) have opted for co-op status: "We encourage them to be owners of their future," MCC Global Director Josu Ugarte tells The Telegraph, "but they are afraid of the obligations that go with it."

The paper's International Business Editor, and author of the piece, Ambrose Evans-Pritchard, believes the co-operative model works in Mondragón for one key reason: ".. the powerful clan ethos" and "tribal loyalty" of the Basques:

"To be a Mondragon Manager is to accept the vows of priesthood," he says.

Despite criticism and scepticism over the MCC model, the movement continues to thrive, says Evans-Pritchard, "half a century after critics said it would never survive".

While even MCC Chairman, Jose María Aldecoa, declares the Mondragón model to be "absolutely flawed", The Telegraph's Business Editor agrees that, compared to other models in these times of crisis, "it has shown itself to be the least flawed".

Ion Ander Gonzalez

oil prices rise

2011-02-25T13:08:00.005+01:00

The popular revolt in Libya and the possibility that the crisis will spread to other countries in the region are causing an extraordinary volatility in oil prices, which started in the day yesterday with a brutal climb close to 10%. The highest price since September 2008, to experience a decline after.
In Spain, the appreciation of oil gives wings to the rise of petrol and diesel. And gasoline costs an average of 1.284 euros per liter, just a penny below the peak reached in January. Diesel stands at 1.247 euros, up 24% from a year ago. Are not yet highs, but are close to those marks, which occurred, we must not forget, at a time when a barrel of oil was quoted at $ 147.
Repsol's production in Libya these days has been reduced by half.
The rise of fuel will impact on private transport, since the bill is to fill the tank of the cars to the impact of "second round" of moving goods, which ultimately all kinds of expensive products.
The energy bill will suffer directly. The price of most fuels as the base oil.
The most feared effects of soaring crude oil are, however, that policymakers and analysts call "second round", an effect that usually move in time more than half a year. The operator pays more expensive fuels moves that amount to the final prices, and in so far as the situation permits, employees try to recover the impact of higher living costs in their negotiations.

Maria Jose Gonzalez

Spanish couples on average take 70 years to pay the mortgage

2011-02-25T12:56:00.002+01:00

Spanish couples take an average of 18 years to pay off the mortgage on a flat of 70 square meters, three years less than in 2010, thanks to falling prices and rising wages.

By region, Extremadura is the region which take less time to pay the mortgage, within 11 years. Also, other communities are below average, as in the case of Castilla-La Mancha (12 years), Asturias (14 years), Galicia (15), Castilla y León (15), Valencia (16 years), Murcia (16), Navarra (17) and Andalusia (17).

The national average is only maintained in La Rioja and Aragon, while above it displayed the Canary Islands (19), Madrid (22 years), the Balearic Islands (23), Cantabria (23 years) and Catalonia (24 years).

Basque couples are the slowest to pay our mortgage, up to 28 years, in spite of receiving the highest net income: EUR 3,102 on average between the two.

Given these results, the analysis concludes that the inhabitants of regions with cheaper per square meter are the ones who pay off their mortgage debt before and emphasizes that in the years a Basque family buy a house, a Castilian-La Mancha and Extremadura could acquire to two properties.

BORJA ETXEBERRIA

Basque Government plans to open offices in the US

2011-02-25T12:55:00.001+01:00

The Secretary General of External Affairs along with the Department of Industry, Innovation, Trade and Tourism at the Basque Government are working jointly to extend the Basque presence in North America. More specifically, they are developing a plan which will allow them to set up corporate offices in the states of California, Florida and Idaho.

During a press conference held at the Basque Parliament on Wednesday, the Secretary General of Foreign Affairs, Guillermo Echenique, and the Vice-councilor of Innovation and Technology, Juan Goicolea, revealed the outline of a plan designed to strengthen the Basque Country's presence in Mexico, the US and Canada, three countries of particular importance for Euskadi which themselves enjoy a special relationship thanks to a Free Trade Agreement, which affords them preferential commercial links with the European Union.

The aim is to exploit the opportunities and resources available in this market, at the same time as raising the profile of Basque business, important for competing in a global market. There is already a Basque Government Office for México, the US and Canada located in New York, as well as another commercial office based in Philadelphia.

In the future, this representation will grow with three new commercial offices planned for New York, California and Florida, as well as a local branch of the Basque Government which will be based in Idaho. The Basque presence in Mexico will also continue with a commercial office located in its capital, Mexico

By Mónica

The unemployed people may request the assistance of 400 euros

2011-02-21T12:32:00.002+01:00

The unemployed who have exhausted their unemployment benefits or subsidies from tomorrow may seek new aid of 400 euros. The new benefit will last for six months and will be linked to training.

The aid, which will replace the 426 euros, will benefit about 80,000 unemployed, compared to 198,000 registered beneficiaries of Prodi in the fourth quarter of the aid.

To access this assistance should complete their unemployment protection from tomorrow and do not qualify for access to the Active Insertion Income.

It is designed more as an economic support training activities specific to the active policies than as a benefit. The program requires recipients to make a custom itinerary for integration, that includes the diagnosis of their employability and participation in activities of retraining and / or reintegration.

If a person making a route to employment and retraining action receives a job offer "adequate" with his professional background and rejected, would begin a process to review the reasons why not accepted that it could take in If you lose your financial aid.

BORJA

THE LAST DAY, GOING HOME

2011-02-17T23:10:00.003+01:00

Hello!! we are returning to San Sebastian. We have spent a very good time, the project was interesting because we met people of other countries and we learn about their culture. It has been wroth to do this project and we hope to see them in Belfast. Thanks of being in date of our trip.

5TH DAY IN SONGDAL

2011-02-17T23:07:00.003+01:00

hello!! today is Wednesday and we have taken a boat to go to Bergen at 7:00 am. This journey takes 5 hours. When we arrived to Bergen we will meet our friends and we will buy presents of our families. And tomorrow we have to leave at 4:00 am.
See you on Friday.

4TH DAY IN SOGNDAL

2011-02-17T23:06:00.003+01:00

Hello!! In Tuesday we did some activities in the classroom. One of the activity was to do a job interview in groups. One group was the interviewer and another one the interviewed. Then we went to the mountains it was -15 degrees. We slid down from the top of mountain with a plastic. After these activity we ate hot dogs made in a fire in the snow and drank hot chocolate. At night we went to eat a pizza to say goodbye to all the students.

3RD DAY IN SOGNDAL

2011-02-17T23:04:00.002+01:00

Hi!! today we have met all the countries: Germany, North Ireland, Norway and Spain. We have done our presentation about our city. We showed them the video about the San Sebastian Europe Culturcity 2016. We had “Gryterett” for lunch in the school and in the afternoon we went to the climbing wall with all the students. We had a very good day!!

Council Gipuzkoa spends almost four and a half million euros in aid to cultural diffusion this year

2011-02-17T10:15:00.001+01:00

Council of Gipuzkoa, go this year, a total of 4,481,137 for aid for promoting cultural awareness, representing an increase of 36 percent over last year, in relation to grants for projects and legal entities cultural activities, and 29 percent in those aimed at arts, music and visual arts. Thus, comparing the data with those of 2010, legal aid organizations for cultural projects and activities recorded an increase of 36 percent, and aid to the performing arts, music and visual arts, the increase is 29 per percent, parameters that are close to the figures for these matters in 2007 when it had not yet begun the economic crisis.

By Mónica