The Spanish government has approved on August 31, 2012 a Royal Decree-Law on a new framework for the restructuring and resolution of financial institutions, which will become an essential tool in the crisis management in financial institutions. To this end, the available instruments, the role of public institutions and the procedures are reinforced. The ultimate objective is to safeguard the stability of the entire financial system, beyond the problems of a particular entity. This Royal Decree Law enters immediately into force and has to be ratified by the Parliament.

Find all the information in the document attached.

Domingo, 21 de octubre de 2012

El próximo día 21/10/12 se celebrarán elecciones al Parlamento del País Vasco y al Parlamento de Galicia. Así ha sido publicado en los boletines oficiales de las referidas Comunidades Autónomas del día 28/08/12.

The Government has approved the Budget Plan for 2013 and 2014

• It includes a combined adjustment between increase in revenue and cutbacks in expenditure of 39 billion euros in 2013, and 50.1 billion in 2014.
• All the Public Administrations will contribute to achieving the budget stability goals.
• This guarantees compliance with the fiscal consolidation path in order to bring the overall deficit of the Public Administrations down to 4.5% of GDP next year, and to 2.8% in 2014.
• The economy will once again grow, at a rate of 1.2%, and jobs will be created in 2014, thanks to the correction of imbalances and to the efforts of all.

Jorge Montealegre, consul of Spain in San Francisco

Here is our program: Café in Silicon Valley. Stay tuned and check out our upcoming video interviews to spanish relevant companies and their CEOs, sharing their personal stories, reflecting on their business experiencies and providing valuable advice to follow on their footsteps (Note: Video in Spanish).

If you want to be considered for an interview, please contact:

cfernandez [at] californiaspainchamber.org

Se adjunta documento PDF con la nota de prensa emitida por el Ministerio de Hacienda y Administraciones Públicas sobre el nuevo acuerdo para evitar la doble imposición entre España y Estados Unidos.

Se adjunta documento PDF con la nota informativa correspondiente a la 2a fase de la reforma del sector financiero (Mayo 2012) del RDL 18/2012 sobre saneamiento y venta de los activos inmobiliarios del sector financiero.

Enclosed here a brief report in English from the Spanish President of Government Mr. Rajoy in reference to the measures adopted by 03/30/212, in order to face the acute economic situation that Spain is going through. This document has been distributed through the Spanish Consulate in San Francisco.