Spanish banks Bankia and Banco Mare Nostrum (BMN) have been given the go ahead to discuss plans of a proposed merger, Reuters reports. Both banks will consider the proposal by Spain’s FROB bailout fund in a bid to recover public money used to rescue the banks back in 2012.
Spain is the second best country in the world when it comes to heritage, according to the world’s best country survey conducted by US News & World Report, Y&R’s BAV Consulting and the Wharton School of the University of Pennsylvania. Spain is a country full of cultural delights ranging from foods to historic attractions so it comes as no surprise that the country ranked highly in this category and only narrowly missed out on the top spot to Italy.
Expats fear that they will lose access to healthcare or even the right to reside in Spain once the UK leaves the EU, according to a survey by the Brussels and Europe Liberal Democrats. The survey questioned 5,000 expats living in the EU with nearly a quarter of which living in Spain. It found that 83% were ‘very concerned’ that Brexit may impact on their rights and benefits; the right to reside, S1 healthcare and automatic pension increases were top concerns for expats living in Spain.
The British Ambassador to Spain is confident that Brexit will not have a negative impact on tourism in Spain and that the number of British tourists visiting the country will not be affected once the UK leaves the European Union.
Hotels on the Costa del Sol welcomed more than 5 million travellers in 2016, breaking all previous records. Despite Brexit and the falling exchange rate, the number of hotel guests from the UK reached an impressive 1,013,161, 13.1% more than in 2015.
The future of one of the most well know sporting facilities in Marbella, Marbella Rugby Club, could be in jeopardy after receiving a huge tax bill from the Patronato Provincial de Recaudación. The provincial tax collection agency has billed the club for €112,000 in unpaid IBI (municipal property tax) accumulated over the past 25 years.
Investment group HIG Capital has bought 430 apartments in Valle Romano, west Estepona, in a deal said to be worth €32 million. The total size of the acquisition amounts to some 46,000 square metres and comes with a restaurant, swimming pools, a gym and padel courts. The purchase also includes 390 garage spaces, store rooms and 12 business premises, a source close to the transaction revealed.
Spain’s 2017 budget is “broadly” in line with EU deficit rules, but the government should be ready to take precautionary curative measures, according to the European Commission. The EU budget deficit limit is set at 3% of gross domestic product (GDP), something which Spain has consistently exceeded since the 2008 financial crash.
The number of people unemployed in Spain fell by 390,000 in 2016, according to the latest data published by the Ministry of Employment. By the end of the year unemployment levels in Spain fell by 9.54% to 3,702,974, the largest fall in unemployment the country has ever seen.