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Business Over Tapas (23rd May/14)

By Lenox Napier and Andrew Brocin

miércoles 22 de octubre de 2014, 11:21h

A digest of this week's Spanish financial, political and social news aimed primarily at Foreign Property Owners: with Lenox Napier and Andrew Brociner - For subscriptions and other information about this site, go to businessovertapas.com email:  [email protected]   ***Now with Facebook Page (Like!)*** Note: Underlined words or phrases are links to the Internet. Right click and press 'Control' on your keyboard to access.

Editorial:

The European elections are upon us, with voting in Spain this Sunday May 25th. There are 39 choices: some a bit obscure, or radical, or indeed elephantine. If you vote, remember to bring photographic ID. They say that many people won't bother to exercise their democratic right: but abstention helps the main parties.

Housing:

A team from a Spanish RTVE program, Comando Actualidad, was present at a recent meeting in Albox, Almería, of the very active home-owners group the AUAN. Afterwards, the reporter Mónica Hernández met with affected owners who explained their particular situation, ranging from demolition orders or problems with the 'parcelas', to the lack of basic services such as water and electricity...'. Story at La Comarca Noticias. The TV show, on TVE1, on May 27th at 10.30pm.

Fallout from Biggest Developer-Bankruptcy in Spanish History: Martinsa-Fadesa Losses Rise in 2013.  'According to the company’s results for 2013, submitted to the Spanish stock market regulator, annual losses rose from €568 million in 2012 to €652 million last year...'.    Story at Mark Stücklin's Spanish Property Insight.

The 'Golden Visa' project, where non-European foreigners can get 'residencia' if they buy a large enough house, has attracted just 81 investors in seven months, according to El País.

'Nearly 50,000 Spanish families lost their homes in 2013, up 11 percent on a year earlier, as the country's economic crisis showed little sign of abating, figures released on Monday show. … "The figures show evictions are still an alarming problem (in Spain), this doesn't happen anywhere else in Europe," a spokesperson for the country's anti-evictions lobby group PAH told Spanish daily 20minutos...'. From The Local.

The Daily Mail tackles the Marina D'Or bankruptcy: 'A broken sign announces the investment opportunity of the last decade. Beyond the wasteland where it sits rise hundreds of holiday apartments which have never been used. This is the Marina d'Or 'Holiday City' in Oropesa del Mar, north of Valencia on Spain's Mediterreanan coast, which was to be one of the biggest high-density real estate projects of the country's boom. But now, with the financial crisis having all but broken Spain, most of the complex's homes and shops stand empty. Meanwhile, its developer has collapsed under the weight of its debts...'.

Tourism:

The Tourist Minister José Manuel Soria said on Friday that 'foreign tourism is up', and his department expects an extra three million tourists to visit Spain in 2014. Last year, 60.6m tourists holidayed in Spain (as far as the statisticians and hotel owners can estimate).

Corruption:

'Judge Alaya names president of Unicaja, Braulio Medel, as a suspect in the ‘Caso ERE’.
Sixteen people, among them two of Andalucía’s most senior banking figures, have been named as new suspects in the Junta fraud case...'. An article in Sur in English.

European Elections:

El Mundo puts us in the mood: 'The President of the Government and the PP Mariano Rajoy said on Friday that "things will go well in May and in June also", a dynamic that means "by the end of 2015, Spain will be infinitely better off than when the Socialists left it to us in 2011"...'. Electioneering continues across Spain until Friday midnight, allowing 'a day of reflection' before voting day on Sunday.

Well, that's gone down like a lead brick... '...Asked during a TV interview to rate his performance in (last) Thursday's candidates' debate, the PP's Miguel Arias Cañete said he could not give himself a perfect score because he had not been able to be himself against Socialist Elena Valenciano. "A debate between a man and woman is very complicated," he told Antena 3, "because if you abuse your intellectual superiority, or whatever it may be, you end up looking like a machista [male chauvinist] who is cornering a defenceless woman."...'. The PP's support dipped rather heavily following this idiocy. (The Guardian)

'Spanish politicians who are now asking citizens for their vote are the worst in Europe, judging by their mistakes and damage to this country and its people. They have turned Spain into a landfill that just stands out internationally for its dirt and its drama: the traffic and consumption of drugs, abortion, school failure, prostitution, money laundering, institutionalised corruption, unemployment, more poverty, privilege for the political caste, inequality, homelessness and the breakdown between citizens and their politicians.
Faced with this situation, instead of asking forgiveness and resigning en masse for their failures and havoc caused, they ask once again for the vote, as if representing an award and recognition for their awful work. To vote for any of the parties who are guilty of the Spanish Disaster, above all, those who have ruled in recent years, is itself the realm of idiots and slaves...'. From the Conservative Francisco Rubiales' Blog.

Politics:

It would be funny really, if it wasn't so seriously stupid. Political weight has obliged Spain to drop its international justice claims, allowing (amongst other things) a number of narcos to be set free, while at the same time, those same politicians have set their sights on those who 'tweet' or post messages of threats or racism or indeed anything seen as disturbing the peace. A blogger at Público has this ironic headline: 'Spain, 36 Narcos freed, 21 Tweeters arrested. The way forward'. Now various Jewish associations have made a massive complaint of 17,500 racist tweets (to do with a basketball match which Spain lost) and they expect justice.

Tax:

'The tax agency (AEAT) has opened 27,696 inspections to retired foreign residents in Spain and to returning retirees who have not filed their pension information from a foreign country, although the Minister of Finance, Cristóbal Montoro, says that his department is "not treating them as fraudsters" and that they are being studied on a "case to case basis" to avoid unnecessary damage to their income...'. News from Europa Press.

Various:

From Rankia, an explanation of the new pensions for the self-employed.

'...The retirement age will increase one month every year until 2021 and from that year, it will increase two months until 2027, to the minimum retirement age of 67 years.

One can request voluntary early retirement from 63 years old and with at least 35 years quoted.

The minimum contribution period is 15 years. Of which 2 years should at least be made during the final 15 years prior to reaching the retirement age.

What pension will the self-employed (autónomos) receive? This will depend on the amount that has been paid in the autonomous quota together with the number of contribution years...'. Charts follow to help give an idea. One notice adds that, following a change in the law, you will need at least 37 years social security paid for a full pension, working full-time from the age of 30. 

'Thousands of Britons living in Spain could soon find themselves in a “black hole” when it comes to medical treatment. Tough new regulations mean that many can no longer access local health care services there, but those returning to the UK are also being turned away by the NHS, despite the fact many have paid National Insurance throughout their working lives. Among those hardest hit will be those who have taken early retirement and headed for Spain. Until now these ex-pats have been able to get medical treatment in Spain, under a reciprocal agreement, where costs were refunded by the UK Treasury, provided that patients signed a “residual S1” form (previously known as an E106)...'. Found at The Telegraph.

South and South-eastern Spain are suffering from a drought which has not been equalled in the past 150 years, says the Agencia Estatal de Meteorología, noting the driest ever September to May on record. More at 20 Minutos.

The AVE system has cost Spain 47 billion euros so far, with 13 billion overspend. The system is still far from complete (and the commissions too). A modern hospital - like the one in Burgos - costs about 315 million euros to build (here), so the waste (so far) on the wasteful AVE system would have funded around 40 extra hospitals across Spain.

Those who are considering starting up a web-page would be advised not to use a dot es, the Spanish version of dot com, as, thanks to the Ley de Telecomunicaciones, it can be shut down by an 'administrative organ' in 24 hours if it is considered to have broken the rules (whatever they may be).

'Far from easing up on the border controls that cause long lines of traffic at the border between Gibraltar and Spain, the Spanish government is planning on increasing them.
The Office for Diplomatic Information claims in a press release that “Britain has not adopted the necessary measures to fight smuggling,” and that, “unfortunately, cooperation by Gibraltarian authorities, far from improving, appears to be regressing.”...'. From El País in English.

That Van Gogh painting found in a tax-evader's safe deposit last week has been declared to be 'a terrible fake'. Story at The Olive Press.

Finally:

A scratched old 45 record from my collection: Digno García y sus Carios with Cuando Calienta el Sol. I have to say, that for about fifty years, I always thought that the name on the label was a misprint for Diego, but no, Digno was a Paraguayan and, as a friend wrote of him: 'Few people have the good luck to have a name that suits them as well as Digno, for his dignity in his music and his life...'. Well, heh, older readers may remember him!

…...

 

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