In order to fix economy matters, government of Spain has gone for austerity cuts and the housing sector is the worst affected.
Spain is facing a financial crisis and worst employment situation ever seen by the country. There has been combination of unemployment with austerity cuts. Almost 40% of the workforce is out of work.
The country is plagued by cuts, rising rent, mortgage repossessions and direct action by unlawful tenants. It is providing a glimpse of a future that may bring troubles for the citizens.
After a group of protesters started throwing bottles and let off firecrackers on the police of Spain, a number of people were injured in a clash. This triggered the riot police with shields and helmets to follow them across the road and beat them with batons.
The ones who have been injured also include police officers. Reports have said that 29 people have been injured and out of them, 13 are police officers.
Bankia, Spanish lender, has witnessed pathetic 2012, as it saw record losses. But it seems that things have been improving as the lender has announced a return to profit.
The bank has informed that they have been able to make profits worth 74m euros in the first quarter of 2013. They opted for bailout, which helped it to get rid of loans.
Jose Sevilla, Bankia's director general, was of the view that the bank will be making a comeback this year. Without a doubt they have to take a number of steps so that they do not witness such problem again.
It seems that eurozone crisis is proving taxing for Spain and Greece. It has been said so as unemployment rate in both the nations has reached to new record highs.
As per the government data, it has been revealed that unemployed people in Spain has crossed the 6 million barrier. It means that Spain's unemployment rate has increased to 27%.
If there is any other country that can give stiff competition to Spain in terms of unemployment then its Greece. It has been said so as Greece's current unemployment rate stands at 27.2%.
Spain's Premier, Mariano Rajoy has declared more cuts with an objective to slash the budget deficit. He added that details regarding these austerity measures would be made public on coming Friday. Last year, the budget deficit of the nation touched 10.6% of total GDP, which is actually a matter of concern.
"We have taken difficult, unpleasant decisions, but we have done so because it is absolutely necessary. Otherwise, we would be destroying the future," he said. Before Rajoy's announcement, speculations were rife that deficit target would be reduced this year.
Just before the upcoming FIFA Confederation Cup in June, Brazilian football sensation, Ronaldo is giving Spain some tips to win the cup.
Ronaldo has shown his belief in the current world champion over his native team and said that he is sure that the amazing performance by Spain team at club level has further firmed his belief. He emphasized that Spain team is the world and European football champion, undoubtedly.
The leftist leadership of Andalusia has taken some measures in Spain in order to prevent bank evictions against the orders of conservative government in Madrid. The party has also penalized banks and property firms for possessing vacant properties. However, these measures taken by the party are temporary and taken for helping people, who are badly affected by the ongoing recession in the country.
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