Expats are becoming the target of organised crime gangs seeking to launder money through their bank accounts. Action Fraud, an initiative run by the National Fraud Authority and the National Fraud Intelligence Bureau in Britain, is warning expats not to respond to newspaper ads or phone calls asking them to get involved. Anyone who agrees… Read More

The Spanish legal system has shown its resolve in punishing those responsible for the country’s financial crisis this week by issuing a prison sentence on the former President of Caja Madrid. Even if just for 1 night. 65 year old Miguel Blesa spent his first night in prison last night after being remanded in custody… Read More

On Friday the Cabinet approved a controversial education bill that is being strongly criticized by other political parties and a significant number of educators. The Partido Poular has introduced a few changes to its initial draft to try to accommodate objections raised by the State Council. For instance, both religion class and its alternative, cultural… Read More

Spain’s Ministry of Pubic Works is proposing to close 48 state-run rail routes and reduce services by an average of 32% on 127 others in order to save €86.5 million per year. The lines to be closed are those middle-distance routes identified as least efficient by ministry consultancy Ineco, with an average occupancy rate of… Read More

The Bank of Spain said Friday that bad loans held by the country’s banks increased slightly in March, but remains well below an all-time high hit late last year, just before lenders started to transfer some problem loans to the country’s “bad bank.” Non-performing loans stood at 10.5% of the total in March, compared with… Read More

King of Spain Juan Carlos has been forced to give up his royal yacht amidst deep austerity measures, record unemployment and dwindling popularity for the monarchy in Spain. The yacht, a gift from a business group, has raised eyebrows and caused massive embarrassment for the monarchy as it costs more than €20,000 just to refuel…. Read More

At the 8th meeting of the FTA in the Russian capital, the most senior members of the tax authorities represented in the FTA (including the Director of the Spanish Tax Office – AEAT, Beatriz Viana) identified a series of “specific synergies” that they “will fully exploit” to combat tax fraud and tax evasion through close… Read More

The arrest of a prominent former Spanish banker is raising hopes among campaigners that the hunt for those responsible for the problems inherited by Bankia and other failed lenders will deliver results. As Spaniards struggle with a deep recession, judges have shown a growing determination to go after top executives and public figures linked to… Read More

The lawyer acting on behalf of a group of small shareholders suing the Bank of Spain over the flotation of failed bank Bankia in 2010 has explained how the “landmark” case is already affecting the behaviour of the country’s financial regulatory regime. Alberto Ruiz Ojeda, a partner at Málaga-based law firm Cremades & Calvo-Sotelo, acting… Read More

Italian bonds are set to fare better than Spanish debt in coming months as concern about a damaging power vacuum in Rome ebbs and the risk of a credit rating cut looms larger for Spain. A marked underperformance by Spain relative to Italy as the prospect of ECB bond-buying backstop drives yield convergence among euro… Read More

Sean Connery has been threatened with arrest if he does not answer questions over an alleged dubious property deal. Spanish judges have been trying to call the actor to court over the sale of his Marbella property back in 1999 since 2010 without success. Connery’s luxury villa was demolished and replaced with a development of… Read More

The European commission has been urged to act over claims that EU funds are being used to “support the brutal tradition” of bullfighting in Spain. It is claimed millions of euros of common agricultural policy (CAP) funds are being “diverted” to help promote the “dying” tradition. The funds, it is alleged, go to organisers of… Read More