Daniel Ritort

Tag Archives: fiscal

Australia to raise debt limit

The Australian government has said it plans to raise the country’s debt limit by two-thirds to allay concerns it could face a future fiscal crisis. The newly-elected conservative government is looking to raise the borrowing limit to A$500bn ($486bn).

Spain cost to Catalonia 8.5% of its GDP in 2010

In 2010 the Spanish Government took €16.54 billion away from the taxes and fees paid in Catalonia and redistributed the money to Spain and abroad. At the same time, the Catalan Government was significantly under-budgeted and had a €8.3 billion … Continue reading

EU plans a separate budget for the euro zone

European Union leaders meeting in Brussels next week will consider creating a separate budget for the 17 economies of the euro zone, in a bid to unite fiscal policy. Such a budget, outside the seven-year framework of the 27-member European … Continue reading

Catalan government requests for a non-political conditioned bailout

The Government of Catalonia announced today it will apply for 5,023 million Euros bailout in order to fulfill all its financial obligations. Catalan government has seen itself obligated to request for the bailout since it cannot turn to the international … Continue reading

Catalonia proposes a new fiscal relationship with Spain

An historical vote took place this morning in the Catalan parliament. An overall majority of the Catalan parliament gave an answer to Catalan financial problems. The agreement would see the creation of a completely independent Catalan tax agency, able to … Continue reading

The future of the European Union

European authorities have unveiled their vision for the future of the European Union, which gives them much greater powers. Jose Manuel Durão Barroso, President of the European Commission, said it is a defining moment for European integration. The 10-year plan … Continue reading

Catalan Countries transfers around 10% of its GDP to Spain every year

Catalan Countries transfers every year between 8 and 10 percent of its GDP to finance services and investments in Spain. Valencian Country transfers more than 6% of its GDP, Catalonia around 8% and Balearic Islands more than 17%. Yesterday, Andreu … Continue reading

Spain on collision with Brussels over deficit target

Government of Spain set itself a softer budget deficit target for 2012 than originally agreed under the new European Union fiscal pact. The move is seen by some analysts as a question mark over the credibility of the European Union … Continue reading

UK and Czechs refused to join EU fiscal treaty

25 out of 27 European Union states have agreed to join a fiscal agreement to enforce budget discipline. The United Kingdom and the Czech Republic refused to sign up. United Kingdom argued it is protecting its financial interests, and Czech Republic cited … Continue reading

UK out of EU fiscal deal

26 out of 27 European member states have backed a tax and budget agreement to tackle euro zone debt crisis. Only the United Kingdom has refused to join the deal. David Cameron, Prime Minister of United Kingdom, stated he had … Continue reading

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