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The well-regarded Spanish property website www.kyero.com reported its largest ever number of visitors to the site on February 4th 2009.
Bucking the current gloomy economic outlook, it seems that more of us are looking to purchase a property in Spain in the near future than we had realised, perhaps due to the paltry levels of interest now available to savers, or perhaps to simply add a little sunshine to our lives once we emerge from this crisis.
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In Spain, it´s notoriously difficult for an employer to sack or to discipline a member of staff. Employees enjoy terrific rights, and even when they find themselves made redundant, they are legally entitled to claim state benefit of up to 70% of their income for the following 2 years.
This is a crippling burden upon Spanish society in general, particularly during a recession when thousands of people are losing their jobs, but also for employers who pay whopping social security contributions in order to feed this social fund.
This presents two problems in Spain. Continue reading »
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Last week the Spanish Prime Minister Jose Luis Rodriguez Zapatero announced that even though the economic situation may be tough at the moment an economic recovery is expected to start in the second half of 2009, refuting a report by the IMF stating that this would not happen until at least 2010. He also said that this year would be a serious challenge for his government but how he was determined that the recovery in Spain would be managed efficiently.
A huge 11 billion euro recovery budget was unveiled recently aimed at kick-starting the economy, by creating 300,000 new jobs using 8 billion euros and the remaining 3 billion euros is going into a Special State Fund which will be spent on the environment, struggling industries and research and development.
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