Spain has become close to 65 billion Euros poorer during the crisis and is the country that has suffered the most since 2008 in Europe. When countries like Germany, France, Belgium and Holland managed to grow despite the crisis, Spain has fallen.
It is approaching some tough years for Spain. It says Mr Fernandez de Mesa, State Secretary of the Spanish Finance Ministry as saying that Spain now has to finance and rebuild what has been lost over Spain worst crisis in history.
Mr Fernandez de Mesa talking about caution and that the worst is over.
“Further, we dare not say. We can not say that we have won over the crisis, yet much remains to be done.”
Spain got a bailout to the financial institutions at 41.3 billion Euros. GDP per capita has fallen to 22,300 Euros which is 1,600 Euros less than in 2008 and 6300 than the EU average.
“Reduced GDP and we have lost wealth during the six years of crisis that has been pure torture.” When the statement of crisis is now being made, it appears that Spain lost 64.8 billion Euros.
Partido Popular region did not their homework
Several officers of the Spanish regional authorities in Aragon have been forced to resign after the region greatly exceeded their budget for 2013.
The highest record hit the Finance Council, José Luis Saz, whose resignation has been accepted by the regional president and former Speaker of the Swedish Parliament Luisa Fernanda Rudi (Partido Popular). Also responsible for the county council has been forced to go, and then the health care sector accounted for the largest share of uncontrolled costs, property Marbella.
The region of Aragon noted last year a deficit of 2.06 percent, while the maximum allowed limit was at 1.3 percent. Spanish Tax Ministry stated that the region exceeded its budget by 245 million Euros, while Rudi argue that the figure is not more than 81 million Euros.
Spanish Company giant reported false losses
Spanish cement giant Cemex has been fined 455 million Euros by the Spanish tax authorities.
These are one of the largest fine Agencia Tributaria ever distributed. Cemex, the worlds largest cement manufacturer based in Mexico, is found to have reported false losses in Spain between 2006 and 2009. This is to avoid paying tax on profits.
Tax Agency’s investigation has been surrounded by great controversy when the tax inspector who initiated the investigation was deposited. Cemex has finally fined, but the company announced that it will appeal.
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