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The Government wants Russian tourists to be able to enter Spain without a Visa |
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Tourist Board is carrying promotional activities in Russia, focusing specifically on Marbella |
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2013 Holiday Season Start with New Destinations to Malaga Airport |
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Ryanair, Air Lingus, Vueling, Turkish & Delta Airlines will start new Routes to Costa del Sol |
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European Court Rules Against Spanish Mortgage Laws |
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Suspending eviction proceedings while deciding whether the terms of a loan are unfair... |
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Nasir Bin Abdullah & Sons may loose the Marbella New Port Concession |
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Sheikh Al-Tani has been given three months to pay dues or lose La Bajadilla port project |
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Spanish Real Estate News & Lifestyle |
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Borrowing money in Spain has never been so cheap!
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| It is the first time in the Euro history that the price of money in Spain falls below 1% |
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The Governing Council of the European Central Bank (ECB) has decided to cut a quarter point interest rate of the eurozone to a record low since the institution chaired by Mario Draghi first places them at 0,75%. Thus, the rates drop 1%, its lowest level so far and the remaining from last December 2011, after Draghi down rates by 0.25 basis points for two consecutive months, offsetting the increases made in April and July 2011 under President Jean Claude Trichet.
The ECB fulfills the expectations of most analysts and markets, and giving for granted this reduction, who are now awaiting the press conference Draghi, to see whether the ECB has approved additional steps in this meeting or leave the door open to do so in the coming months.
The eurozone economy remained stagnant (0.0%) during the first three months of the year, after falling 0.3% in the last quarter of 2011, according to data released by Eurostat, which thus avoids relapse into recession technically defined as two consecutive quarters of negative growth, thanks to the efforts of Germany. Also, the European statistical office reported that the rate of inflation in the euro area in June stood at 2.4%, the same percentage recorded in May, so it remains above the threshold price stability driven by European Central Bank (ECB), slightly less than 2%.
Source: Diario Sur
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