InfoAnda - Spain backs pension reform, asset sales to ease debt

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Germany charges accused Nazi guard Demjanjuk | International | | 13 July 2009
Australia lets Thai oil firm stay despite spill | 4 February 2011
Burning flags, Iranians cheer US Embassy takeover | 3 November 2008

India top court orders mosque verdict postponed | | 23 September 2010

Forum Views () Forum Replies ()

Read more with google mobile : Spain backs pension reform, asset sales to ease debt

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap Spain backs pension reform, asset sales to ease debt AFP - Saturday, December 4 Send IM Story Print Spain backs pension reform, asset sales to ease debt MADRID (AFP) - – Spain's government Friday set a date to raise the retirement age and backed multi-billion-euro sales of stakes in the lottery and airports in a bid to ward off debt pressures threatening the country. Prime Minister Jose Luis Rodriguez Zapatero pulled out of a Latin American summit in Argentina to attend a cabinet meeting Friday on the economic crisis, sending a powerful message about Spain's determination to avoid a Greek-style debt debacle. The Socialist government will approve on January 28 a plan, fiercely opposed by unions, to gradually raise the retirement age from 65 to 67, Deputy Prime Minister Alfredo Perez Rubalcaba said. "We have agreed that the government will approve the reform of the pensions system on January 28 in order to send it to parliament," he told a news conference after the cabinet meeting. The government floated the plan more than a year ago, aimed at ensuring the social security system remains viable amid a rapidly ageing population and strained public finances. But tens of thousands took to the streets across Spain in February to condemn the proposal. Unions also staged a general strike in September over the plan as well as tough government labour reforms. Ministers Friday also agreed to boost the state coffers with asset sales and to cut taxes on small- and medium-sized business, Finance Minister Elena Salgado told the same news conference. She also announced a hike in tax on tobacco sales, which would bring in additional revenues of 780 million euros. The asset sales, unveiled two days earlier by Zapatero, included: -- Selling up to 30 percent of the state-owned lottery, an option the government said it was not even considering as recently as January. Loterias y Apuestas del Estado posted a net profit of 2.99 billion euros in 2009, up 3.5 percent increase despite an economic crisis. -- Selling up to 49 percent of airport management company AENA, a significant increase from original plans to cede 30 percent. The measures follow weeks of market turbulence over fears that Spain could follow Greece and Ireland in seeking an EU bailout. The Madrid stock market Friday closed up 0.68 percent, its third consecutive day of gains, to cross the psychological threshold of 10,000 points for the first time since November 22. Spanish media said the country could net as much as five billion euros (6.5 billion dollars) from the privatisation of the lottery and nine billion euros from the sale of the stake in AENA. Salgado earlier said the sales would allow Spain to cut new borrowing from the markets by a third in 2011, lowering bond issues to 30-31 billion euros from the 45 billion euros originally planned. "That will allow us to reduce our stock of debt," she said in an interview with the Financial Times published Thursday. Even with a reduction in new debt issues, the central government has to repay 120 billion euros in existing debt that matures in 2011, according to Treasury figures. That figure excludes the debt racked up by Spain's semi-autonomous, heavily indebted regional governments. The government earlier this year introduced tough austerity measures in a bid to slash its soaring public deficit, including pay cuts for civil servants. It aims to rein in the deficit from 11.1 percent of Gross Domestic Product last year, the third highest in the eurozone after Greece and Ireland, to 3.0 percent -- the EU limit -- by 2013. The Spanish economy slumped into recession in late 2008 due to the bursting of a decade-long property bubble and the global financial meltdown. It emerged with tepid growth of just 0.1 percent in the first quarter of this year and 0.2 percent in the second but then slipped back to zero percent in the third. Recommend Send IM Story Print News Search Top Stories US unemployment surges to 9.8 percent Euro is 'credible', more rescue funds needed: Trichet WikiLeaks arrest looms as site fights to stay online Spain backs pension reform, asset sales to ease debt NASA finds new form of life... on Earth More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended NASA finds new form of life... on Earth Finger length predicts prostate cancer risk: study Suspect in Hollywood PR shooting commits suicide US unemployment surges to 9.8 percent Forest fire inferno kills 40 in northern Israel More Most Viewed » Pilgrims stone 'devil' as Muslims celebrate Eid NASA finds new form of life... on Earth World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack Obama gets 12 stitches after 'elbow in the lip' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Saturday, 4 December 2010
Saudi king in good shape after surgery
Sweden issues new arrest warrant for WikiLeaks head
Obama on surprise Afghanistan visit, says US winning war
Future of TV? Snapping, swiping and surfing
Spain backs pension reform, asset sales to ease debt
Big powers to press Iran on nuclear issue at talks
iPad makes it to Brazil, at eye-watering prices
US unemployment surges to 9.8 percent
Collahuasi talks stall, both sides willing to go on |
WikiLeaks: Bribery, graft rampant in Afghanistan
US-TECH Summary
U.N. body to set up atom fuel bank backed by Buffett |
WikiLeaks diverts to European websites amid U.S. fury
NATO reveals new details on slaying of 6 US troops
Family demands Spanish probe in Iraq death case |
WikiLeaks founder says guards against death threats
Pakistan PM to visit Afghanistan
India says no BlackBerry solution so far
Saudi king's operation successful: sources |
Iberia cancels all flights from Spain until Saturday |
Amazon pumps 175 million dollars into LivingSocial
Game industry in flux, investors watch and wait
US, S.Korea clinch new trade deal
U.S. military chiefs urge against ending gay ban
France seeks to bar hosting WikiLeaks website
Spanish judge jails three Pakistanis in forgery probe
Obama in Afghanistan, says troops making progress
Corrected: U.S. flew spy missions over Lebanon
Japan PM rejects pressure to reshuffle government
Iraqi writers protest against club closure and alcohol ban
Obama arrives in Kabul for unannounced Afghanistan trip
Philippines, communists to resume peace talks
Samsung promotes heir apparent, shares hit record
Game industry in flux, investors watch and wait |
Paris riverboat shelters homeless -- and their dogs
Belgian ambassador meets Suu Kyi
US-ENTERTAINMENT Summary
Google ends Street View trespass case, pays $1 |
Ben Sherwood named president of ABC News
Malaysia's Anwar says likely to be suspended from parliament
Indonesia downgrades Mount Merapi volcano alert
High child inequality in some rich countries: UNICEF
WikiLeaks diverts to European websites amid U.S. fury |
Interview: One flash of her neck and Johnny Depp was done for
Russian man tells U.S. court not guilty in global spam scheme |
Can Lima unclog its traffic nightmare?
Triple despair in Asia as World Cup goes to Qatar
US Congress urges China to press N.Korea
India hopes to break deadlock at Cancun climate talks
Volvo, Geely in China plant talks
Sands China loses bid for lucrative Macau land
Pakistani stocks, o/n rates end up; rupee flat
Kids breaks new ground for lesbians on film |
Ben Sherwood named president of ABC News |
Obama, on Afghanistan visit, says US winning war
At least 60 dead in Europe as snow, floods cause havoc
Ivory Coast set to swear in Gbagbo despite poll row |
Abbas says may dissolve PA if no peace deal
Google bid to buy Groupon 'fails'
Climate: Kyoto row rocks UN talks
Obama on surprise Afghanistan visit, says US winning war
Abbas says may dissolve PA if no peace deal |
Universal opens virtual stage
Saudi king well after surgery in U.S. -royal court
U.S. troops had tea with killer Afghan policeman |
Euro is 'credible', more rescue funds needed: Trichet
Limewire says to close December 31 after legal battle
Big powers to press Iran on nuclear issue at talks
South Korea repeats warning against North Korea |
WikiLeaks arrest looms as site fights to stay online
Top papers to charge online, but how?
Kyrgyzstan renews attempts to build coalition government |
Clinton: Iran faces choices in nuclear talks
Orbotix turns smartphones into remote controls
U.N. urges Haiti candidates: respect law, shun violence |
International crews help Israel fight forest fire
Swiss WikiLeaks website blocked, spawns alternatives
Obama: Afghanistan will never be a terrorist haven
International crews help Israel fight forest fire |
WikiLeaks accuses 'cowardly' Amazon of lying
Spain PM allows army to take control of air space |
Cook, Trott stand puts Ashes heat on Aussies
Google ends Street View trespass case, pays $1
Saudi king well after surgery in U.S.: royal court |
Sarkozy arrives in India for four-day trip
South Korea repeats warning against North Korea
Donaire looks to set up bantamweight title fight
US returns stolen historical documents to Russia
Wagner must be freed from Nazi 'weight': conductor
US, S.Korea clinch new trade deal
"Kids" breaks new ground for lesbians on film
Yang seizes three-stroke lead at LPGA Championship
S.Korean president approves new FTA with US
Limewire says to close December 31 after legal battle |
US Congress intervenes on Japan immigration cases
Thai tech pioneer converts waste into wealth
Top papers to charge online, but how? |
Pitcairn mayor on child porn charges
Bullet train line extended in northern Japan
SKorea renews vows of retaliation against NKorea
Malaysia cuts fuel, sugar subsidy to trim deficit
Universal opens virtual stage |
Pakistan to sell T-bills in 5-day repo
Honda to end motorcycle joint venture in India: report
Orbotix turns smartphones into remote controls |
S.Korea, US agree on auto deal to save trade pact
South Korea, U.S. agree on deal to save trade pact
WTO raps EU for measures on Chinese metal fasteners
Fashionable Fergie gets push from Wilhelmina Models |
Robert Downey Jr. attached to star in musical film |
Filmmaker works 40 years to make Nutcracker 3D |
Adam Lambert on post-American Idol success |
Former Dora the Explorer settles lawsuit |
Spanish air space opens, recovery in '24-48 hours'
Two die after Russian plane makes emergency landing: report |
Iran pilgrims among 13 dead in Iraq bombings: sources |
Iran accuses U.N. nuclear agency of sending spies |
Afghan official offers to quit over leaked cable |
Al Qaeda planned to kill Saudis with poisoned gifts |
Kenya asks FBI to help investigate attacks on police |
Israel arrests two suspects in deadly fire |
Sarkozy pushes nuclear deals in India
Record-breaking train on track
No respite from the heat, despite the cold
S Korea defence minister designate warns air strike on North Korea
Viacom wants new ruling in YouTube copyright case
Samsung reshuffle makes group younger
Fashionable Fergie gets push from Wilhelmina Models
Society Authorities probe death of inmate in S China
Looks can kill
Former "Dora the Explorer" settles lawsuit
PayPal suspends WikiLeaks donations account |
Chinese cargo ship sinks off Philippine coast
Filmmaker works 40 years to make "Nutcracker 3D"
Robert Downey Jr. attached to star in musical film
Five shot dead in gun attacks across Thai south
Adam Lambert on post-'American Idol' success
Pakistani hackers shut India crime bureau website |
Internet addresses to be used up in January: expert
'Pakistan' hackers target India's top police agency
WikiLeaks battles to stay online as Assange arrest looms
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01