Not so long ago, the boos that echoed around Vitoria’s Buesa Arena on the arrival of King Juan Carlos for the basketball Copa del Rey final at the weekend would have surprised many Spaniards and scandalised quite a few others. Such an open display of hostility towards the monarch would have been almost unthinkable. And yet on Sunday, when the booing was so loud that the playing of the national anthem ahead of the game between Barcelona and Valencia was cut short, it no longer seemed all that surprising or shocking, such is the sliding esteem of the Spanish royal family. The most defining moment of the reign of Juan Carlos now looks so far away it could be from another era. In 1981, the … [Read more...] about Spain’s King Juan Carlos seeks to stem the opprobrium
Spain News
Euro wobbles as ECB hints at intervention to curb its strength
The common currency lost almost two cents against the pound last week, falling from 0.8691 on February 1st to 0.8541 today. Meanwhile, against the greenback it lost two and a half cents, tumbling from a multi-year high of 1.3662 to 1.3410 at the time of writing. Of course, these losses hardly undo the euro’s January gains. The common currency still sits close to historical highs against sterling and the buck. But what we’ve seen this week is that it’s rally isn’t endless. ECB to “monitor” the euro's strength To account for the euro’s losses this week, we can look to what’s typically been the chief mover of the euro exchange rate in the debt crisis, the European Central Bank. Speaking … [Read more...] about Euro wobbles as ECB hints at intervention to curb its strength
La Liga: Struggling Mallorca fire “great coach” Caparrós
With only one win in 17 league games leaving the team in the drop zone, it is none too surprising that a 3-0 defeat against Real Sociedad at the weekend was the final straw for Mallorca, who dismissed manager Joaquín Caparrós on Monday night. Unusually, however, the club were quick to praise the departing coach. "I respect Caparrós so much. I know that we have sacked a great coach. I would like to thank Joaquín and his coaching staff for their honour, dedication, desire and for helping the club grow in every sense” said acting president Llorenç Serra Ferrer. The islanders took to the pitch at the weekend with new names Fernando Tissone and Alan Hutton – brought in during the January … [Read more...] about La Liga: Struggling Mallorca fire “great coach” Caparrós
Rajoy is a liability for Spain if he can’t clear his name
“I didn’t get into politics because I wanted applause or money … I got into politics because I wanted to change things.” So said Prime Minister Mariano Rajoy on Saturday as he gave his first proper public response to allegations published by El País that he was among many politicians who took under-the-table payments from a longstanding Partido Popular (PP) slush fund. But it doesn’t take a cynic to observe that very little has changed during Rajoy’s first year of government, despite his fighting talk at the weekend. As if to remind us of the fact, today he travels to Germany to meet Angela Merkel and discuss yet again the woes of the Spanish economy, on the same day that new … [Read more...] about Rajoy is a liability for Spain if he can’t clear his name
Has Spain’s economic contraction become self-perpetuating?
Spain’s political leaders are in cheerful mood at the moment. According to the country’s Economy Minister Luis de Guindos, the Spanish economy will return to growth in the second half of 2013. “The perception of the Spanish economy has improved and will continue to do so over the coming weeks and months,” he told his audience at the World Economic Forum in Davos. Earth-shattering it will not be, but grow it will, he insisted. Perhaps, he suggested, the economy will be stationary in the third quarter, with very slight growth in the fourth. And quite possibly he is right. The core of the problem is whether any faltering growth emerging in the last three months of the year will be sustained … [Read more...] about Has Spain’s economic contraction become self-perpetuating?
La Liga: Rayo Vallecano defy the odds to keep riding high
They are not the first, second, or arguably, even the third team in Madrid, but they are already in position for a Europa League place and currently sit one point away from the Champions League spots. It is an even more impressive feat given that this is a club in administration, a team that was almost relegated to segunda on the final day of last season and that lost both its manager in the summer and a total of 13 players including their star, Michu, who is currently lighting up the Premier League. Rayo Vallecano are defying all expectations. While Atlético Madrid and Real Madrid sit in second and third respectively, the other team from the capital are just a point behind Málaga in … [Read more...] about La Liga: Rayo Vallecano defy the odds to keep riding high
La Liga: Real Sociedad inflict Barça’s first loss of season
A strange thing happened at the weekend - something not witnessed at all during the 2012/13 season so far. Having drawn with Málaga in the Copa del Rey in midweek, FC Barcelona finally lost a liga game after 19 jornadas unbeaten. Tito Vilanova’s men were looking pretty much unstoppable having torn apart almost every team they have come up against, but Real Sociedad were to inflict the Catalans’ first liga defeat, coming from two goals down to claim a last-minute 3-2 victory over the league leaders. It had seemed to be business as usual for Barça, who took the lead early on with a Lionel Messi goal. The Argentine scored for a record 10th game in a row when he struck after just seven … [Read more...] about La Liga: Real Sociedad inflict Barça’s first loss of season
Here comes the sun
Time for Spain to defy expectations as it battles corruption
It was, of course, a shock to hear about the €22 million that the former treasurer of the governing Partido Popular (PP), Luis Bárcenas, had hidden in a Swiss bank account; and equally shocking have been the allegations that for years the party paid its politicians under-the-table bonuses of up to €10,000 per month. But the depressing thing is, it’s not altogether surprising. This scandal broke in a month when 13 people linked to the PP are awaiting trial for their part in the Gürtel kickbacks case, and with the party’s Madrid premier Ignacio González facing questions over his luxury apartment in Marbella. Just days ago, Juan José Guëmes resigned his post in the company Unilabs España, … [Read more...] about Time for Spain to defy expectations as it battles corruption
La Liga: Depor find fortune on pitch despite financial woes
In a week when Deportivo La Coruña filed for bankruptcy protection, you would think a club which is €99 million in debt would not have much to smile about. But the Galicians, who currently sit in 19th place in the league table, seem to be slowly turning around their fortunes on the pitch with the help of their new manager. Drafted in during the winter break to replace José Luis Oltra, who was at least not given his marching orders until after he had enjoyed Christmas day, Domingos Paciência got off to the best possible start in his first match in charge when his new team beat high-flying visitors Málaga 1-0 thanks to a goal by Luis Pizzi for their first win in two months. The … [Read more...] about La Liga: Depor find fortune on pitch despite financial woes