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2008–2014 Spanish Financial Crisis
The 2008–2014 Spanish financial crisis, also known as the Great Recession in Spain or the Great Spanish Depression, began in 2008 during the world financial crisis of 2007–08. In 2012, it made Spain a late participant in the European sovereign debt crisis when the country was unable to bail out its financial sector and had to apply for a €100 billion rescue package provided by the European Stability Mechanism (ESM). The main cause of Spain's crisis was the housing bubble and the accompanying unsustainably high GDP growth rate. The ballooning tax revenues from the booming property investment and construction sectors kept the Spanish government's revenue in surplus, despite strong increases in expenditure, until 2007. The Spanish government supported the critical development by relaxing supervision of the financial sector and thereby allowing the banks to violate International Accounting Standards Board standards.. The banks in Spain were able to hide losses and earnings v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outright Monetary Transactions
Outright Monetary Transactions ("OMT") is a program of the European Central Bank under which the bank makes purchases ("outright transactions") in secondary, sovereign bond markets, under certain conditions, of bonds issued by Eurozone member-states. The program was presented by its supporters as a principal manifestation of Mario Draghi's (July 2012) commitment to do "whatever it takes" to preserve the euro. OMT is considered by the European Central Bank once a Eurozone government asks for financial assistance. The Eurozone has established the European Stability Mechanism and the European Financial Stability Facility bailout funds in order to meet the challenges of the European debt crisis. From these funds and through OMT, the Eurozone's central bank can, henceforth, buy government-issued bonds that mature in 1 to 3 years, provided the bond-issuing countries agree to certain domestic economic measures – the latter being the so-called term of "conditionality". The aim of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ciudad Real Central Airport
Ciudad Real International Airport or CRIA , previously known as ''Central Airport CR'', ''Don Quijote Airport'' and ''South Madrid Airport'', is an international airport and long-storage facility, situated south of Ciudad Real in Spain. Constructed at a cost of €1.1 billion, it was opened in 2009, and became the first international private airport in Spain. Operations at the site ran for three years until April 2012, when its previous management company filed for bankruptcy and went into receivership, after the last flight operator, low-cost airline Vueling, withdrew its last route from the airport. It remained closed for seven years until finally reopening in September 2019, however without any scheduled passenger traffic. Facilities The airport features a single runway, long and wide, making it one of the longest in Spain and Europe. Its design was to enable the airport to accept all forms of commercial airliners, including the Airbus A380. The passenger terminal was des ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ghost Town
Ghost Town(s) or Ghosttown may refer to: * Ghost town, a town that has been abandoned Film and television * ''Ghost Town'' (1936 film), an American Western film by Harry L. Fraser * ''Ghost Town'' (1956 film), an American Western film by Allen H. Miner * ''Ghost Town'' (1988 film), an American horror film by Richard McCarthy (as Richard Governor) * ''Ghost Town'' (2008 film), an American fantasy comedy film by David Koepp * ''Ghost Town'', a 2008 TV film featuring Billy Drago * '' Derek Acorah's Ghost Towns'', a 2005–2006 British paranormal reality television series * "Ghost Town" (''CSI: Crime Scene Investigation''), a 2009 TV episode Literature * ''Ghost Town'' (''Lucky Luke'') or ''La Ville fantôme'', a 1965 ''Lucky Luke'' comic *''Ghost Town'', a Beacon Street Girls novel by Annie Bryant *''Ghost Town'', a 1998 novel by Robert Coover *''Ghosttown'', a 2007 novel by Douglas Anne Munson Music * Ghost Town (band), an American electronic band * ''Ghost Town'', a 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deed-in-lieu
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender. The principal advantage to the borrower is that it immediately releases him/her from most or all of the personal indebtedness associated with the defaulted loan. The borrower also avoids the public notoriety of a foreclosure proceeding and may receive more generous terms than he/she would in a formal foreclosure. Another benefit to the borrower is that it hurts his/her credit less than a foreclosure does. Advantages to a lender include a reduction in the time and cost of a repossession, lower risk of borrower revenge ( metal theft and vandalism of the property before sheriff eviction), and additional advantages if the borrower subsequently files for b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extremadura
Extremadura (; ext, Estremaúra; pt, Estremadura; Fala: ''Extremaúra'') is an autonomous community of Spain. Its capital city is Mérida, and its largest city is Badajoz. Located in the central-western part of the Iberian Peninsula, it is crossed from east to west by the Tagus and Guadiana rivers. The autonomous community is formed by the two largest provinces of Spain: Cáceres and Badajoz. Extremadura is bordered by Portugal to the west and by the autonomous communities of Castile and León (north), Castilla–La Mancha (east) and Andalusia (south). It is an important area for wildlife, particularly with the major reserve at Monfragüe, which was designated a National Park in 2007, and the International Tagus River Natural Park (''Parque Natural Tajo Internacional''). The regional executive body, led by the President of Extremadura, is called Junta de Extremadura. The Day of Extremadura is celebrated on 8 September. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catalonia
Catalonia (; ca, Catalunya ; Aranese Occitan: ''Catalonha'' ; es, Cataluña ) is an autonomous community of Spain, designated as a '' nationality'' by its Statute of Autonomy. Most of the territory (except the Val d'Aran) lies on the northeast of the Iberian Peninsula, to the south of the Pyrenees mountain range. Catalonia is administratively divided into four provinces: Barcelona, Girona, Lleida, and Tarragona. The capital and largest city, Barcelona is the second-most populated municipality in Spain and the fifth-most populous urban area in the European Union. > > > ''Catalonia'' theoretically derived. During the Middle Ages, Byzantine chroniclers claimed that ''Catalania'' derives from the local medley of Goths with Alans, initially constituting a ''Goth-Alania''. Other theories suggest: *''Catalunya'' derives from the term "land of castles", having evolved from the term ''castlà'' or ''castlan'', the medieval term for a castellan (a ruler of a castl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurostat
Eurostat ('European Statistical Office'; DG ESTAT) is a Directorate-General of the European Commission located in the Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statistical information to the institutions of the European Union (EU) and to promote the harmonisation of statistical methods across its member states and candidates for accession as well as EFTA countries. The organisations in the different countries that cooperate with Eurostat are summarised under the concept of the European Statistical System. Organisation Eurostat operates pursuant tRegulation (EC) No 223/2009 Since the swearing in of the von der Leyen Commission in December 2019, Eurostat is allocated to the portfolio of the European Commissioner for the Economy, Paolo Gentiloni. The Director-General of Eurostat is Mariana Kotzeva, former Deputy Director-General of Eurostat and President of the National Statistical Institute of Bulgaria. History ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Bubble
An economic bubble (also called a speculative bubble or a financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify. Bubbles can be caused by overly optimistic projections about the scale and sustainability of growth (e.g. dot-com bubble), and/or by the belief that intrinsic valuation is no longer relevant when making an investment (e.g. Tulip mania). They have appeared in most asset classes, including equities (e.g. Roaring Twenties), commodities (e.g. Uranium bubble), real estate (e.g. 2000s US housing bubble), and even esoteric assets (e.g. Cryptocurrency bubble). Bubbles usually form as a result of either excess liquidity in markets, and/or changed investor psychology. Large multi-asset bubbles (e.g. 1980s Japanese asset bubble and the 2020–21 Everything bubble), are attributed to central banking liquidity (e.g. overuse of the Fed put). In the early sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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