Spain brings military discipline to COVID-19 contact tracing

MADRID - Various European countries have used their armies for logistical support in tackling COVID-19, but hard-hit Spain is now bringing military discipline to a process that health experts say is key in stemming the spread of the pandemic: contact tracing.

At five army bases in Madrid, 150 volunteer soldiers spend their days calling people who have been diagnosed with COVID-19, mapping recent social interactions, and asking those potentially infected to stay at home.

"We try to impress upon them the idea that their help is vital to bringing an end to the chaos we are living through this year as soon as possible," Lt. Hector Sanchez said at the Goloso military base on the outskirts of Madrid, where he is in charge of 30 tracers.

"We can't check whether people are doing their bit and isolating. We want to think so, but obviously we can't control people," he said.

With 741 COVID-19 infections per 100,000 people, Madrid is the epicentre of one of the worst national caseloads in western Europe. Spain has reported nearly 836,000 cumulative infections and 32,562 deaths since the start of the pandemic in March.

Of the 2,000 troops the national government has offered to bolster local tracing efforts, 1,783 have been assigned across 15 of Spain's 17 regions, Health Minister Salvador Illa told a news conference on Thursday.

Spain has performed more than 10 million swab tests, but public health experts say testing alone is not enough, and emphasise the importance of contact tracing, a strategy used to interrupt the transmission of infectious diseases for decades.

Nationally, an average of three contacts is being identified for every person who tests positive, the Madrid-based Carlos III Institute of Health says.

It is difficult to identify the origin of an outbreak in a populous area like Madrid, Sanchez said, and one infected person could infect two or three more, so his team had to move fast.

"Our job is to prevent it spreading to three more people, because then it is a never-ending chain." 

-reuters-

First Spanish beaches to reopen as lockdown eases

MADRID - Coronavirus lockdown measures will finally be eased for people in Madrid and Barcelona from Monday, while elsewhere in Spain the first beaches are due to reopen.

Residents in the two cities can now meet in groups of up to 10 people in their homes or on the terraces of bars and restaurants.

The gates of the capital's parks will also be reopened, and major museums will be able to receive a limited number of visitors.

The Madrid and Barcelona regions, the most populated in the country, and a large part of Castile-Leon in the northwest are moving into the first phase of Spain's four-phase deconfinement program, following what has been one of the strictest lockdowns in the world.

These regions have been on a slower deconfinement track as they bore the brunt of the pandemic in Spain, which has killed more than 28,700 people to date, one of the world's highest tolls.

Everyone must continue to wear a mask, which is already compulsory in buildings and on public streets when it is not possible to keep a distance of two meters (six feet).

The rest of the country meanwhile -- 22 million out of Spain's 47 million inhabitants -- is moving on to the second phase, which is expected to last until the end of June.

Restaurants may then reopen to a limited number of customers, and outings for walks or sports will no longer be limited to certain hours of the day.

As the summer heat arrives, beaches on the Atlantic Ocean coast and in much of Andalusia, as well as on the Balearic and Canary Islands, are open for swimming, subject to safety measures.

The health ministry recommends limiting the number of visitors to the beaches, creating boundaries and spacing umbrellas four metres apart.

Only locals will benefit for the time being. Travel between regions is still forbidden and foreigners arriving in Spain must quarantine for 14 days.

But the government plans to reopen the borders to foreign tourists in July.

The lockdown, in force since mid-March, has been among the most severe in the world.

In the first few weeks, Spaniards could hardly set foot outside and their children were kept indoors.

Many residents have become impatient over the government's slow and cautious process of lifting the restrictions.

Thousands of people protested on Saturday by car in major Spanish cities at the call of the far-right Vox party. 

Drivers honked their horns, waved Spanish flags and banged on pots and pans to denounce the management of the coronavirus crisis by the left-wing government of Pedro Sanchez.

dbh/erc/jj/har

Agence France-Presse

Spain death toll hits 9,053 as coronavirus cases pass 100,000

MADRID - The coronavirus death toll in Spain surged over 9,000 on Wednesday after a record 864 deaths in 24 hours, with the number of confirmed cases passing the 100,000 mark, the government said. 

Spain has the world's second-highest death toll after Italy, with the virus so far claiming 9,053 lives and the number of confirmed cases reaching 102,136.

But on a day-to-day basis, the rate of new infections continued its downward trend, showing an increase of just over 8 percent, compared with nearly 11 percent on Tuesday, health ministry figures showed. 

And the death rate has also slowed, from 27 percent a week ago to 10.5 percent on Wednesday, with officials saying the data appear to show the epidemic is reaching its peak. 

But officials have warned that even if the epidemic is peaking, the pressure on the intensive care system would be subject to a lag of at least a week or longer, with hospitals likely to reach crisis point by the end of this week or early next.

Madrid remains the worst-hit region, with 3,865 deaths and nearly 30,000 cases, leaving hospitals and mortuaries overwhelmed.

Agence France-Presse

Spain virus death toll tops 4,000

MADRID - The coronavirus death toll in Spain surged to 4,089 after 655 people died within 24 hours, the health ministry said on Thursday.

It was a 19-percent increase in figures released Wednesday by the authorities in Spain, which has the world's second highest death toll from the disease after Italy.

The number of confirmed cases of COVID-19 rose to 56,188, the ministry said.

Despite a national lockdown imposed on March 14, which parliament on Thursday agreed to extend until April 11, both deaths and infections have continued to mount, with officials warning this week would be particularly bad. 

But the rise in the number of new deaths was smaller than that recorded on Wednesday when the figure rose by 738 or 27 percent.

Health authorities are hoping it will soon become clear whether the lockdown is having the desired effect.

The Madrid region has suffered the brunt of the epidemic with 17,166 infections -- just under a third of the total -- and 2,090 deaths, or 51 percent of the national figure. 

Prime Minister Pedro Sanchez, whose wife is infected with the virus, has said this is the country's most difficult moment since its 1936-39 civil war.

"Only the oldest, who knew the hardships of the civil war and its aftermath, can remember collective situations that were harsher than the current one. The other generations in Spain have never, ever had to face as a collective something so hard,” he said when he imposed the state of emergency on March 14.

Spain's demographics partly explain why it has been one of the worst-affected nations. 

The country has one of the longest life expectancies in Europe and the pandemic has taken a high toll on its large elderly population, who are especially vulnerable to the disease.

source: news.abs-cbn.com

Spain death toll from COVID-19 rises to 2,696; 514 fatalities in 1 day

MADRID - Another 514 people have died in Spain over the past 24 hours, raising the death toll to 2,696, as the number of infections surged towards 40,000, the government said Tuesday. 

As the health authorities step up the number of tests, the number of people who have been diagnosed with COVID-19 rose by nearly 20 percent to 39,673, the health ministry said.

At the same time, the death toll showed an increase of 23.5 percent over the figures from Monday.

The new figures came as the government of Prime Minister Pedro Sanchez was to seek parliamentary approval to extend the state of emergency for an extra two weeks, until April 11, in a bid to slow the spread of the virus. 

Officials are hoping the rate of infections will peak within the coming days. 

The Madrid region has suffered the brunt of the epidemic with 12,352 infections -- just under a third of the total -- and 1,535 deaths, or 57 percent of the national figure. 

With the city's funeral services completely overwhelmed, Madrid officials have commandeered the Palacio de Hielo ice skating rink to serve as a temporary morgue in order to handle the surge in deaths. 

The Spanish capital has also transformed part of a giant exhibition centre into a temporary field hospital with 1,500 beds and an intensive care unit which could be expanded take in up to 5,500 patients. 

Government figures show there has also been an increase in people recovering, with the number reaching 3,794 on Tuesday after 439 were declared virus-free. Around 60 percent of the recoveries are in Madrid.

source: news.abs-cbn.com

Amazon, Sony skipping mobile congress owing to virus

MADRID - Amazon and Sony said Monday they will steer clear of the world's biggest mobile tech fair in Barcelona at the end of this month owing to concerns over the spread of the novel coronavirus.

The US and Japanese heavyweights joined a list of companies that includes Swedish telecoms equipment maker Ericsson and South Korean giant LG that will forego attending the annual gathering that is to take place on February 24-27 this year.

"Due to the outbreak and continued concerns about novel coronavirus, Amazon will withdraw from exhibiting and participating in Mobile World Congress 2020," a Spanish-language statement said.

A Sony statement said: "As we place the utmost importance on the safety and wellbeing of our customers, partners, media and employees, we have taken the difficult decision to withdraw from exhibiting and participating at MWC 2020 in Barcelona."

The Japanese group has maintained an internet news conference on February 24 however to present its new products.

The MWC is a major date on tech company calendars and normally draws more than 109,000 people from all over the world to see the latest innovations and gadgets from 2,800 exhibitors.

The mobile trade association GSMA that organizes the congress said Sunday it was taking drastic precautions this year to ease concerns that it could become a hub for the virus to spread.

To date, more than 40,000 people have been infected and more than 900 have died.

The Barcelona congress will be off-limits to anyone from the Chinese province of Hubei, where the virus first broke out, and visitors from other parts of China will have to show they have been outside the country for two weeks before arriving in Spain.

Chinese tech groups ZTE and Huawei still plan to attend but their representatives are to be carefully vetted.

ZTE's exhibition stand and equipment will be disinfected daily and all of its booth exhibition staff will come from countries outside of China, mainly from Europe, it said.

Meanwhile, personnel will be on hand to take visitors' temperatures.

Spain has not declared a health emergency and only two cases of coronavirus have been detected in the country so far, one in the Canary Islands and one on the Mediterranean island of Majorca.

"Everything will be done to ensure the participant's peace of mind," Barcelona Mayor Jaume Collboni told Antena 3 television.

source: news.abs-cbn.com

Madrid high heels run defies gravity, homophobia

MADRID, Spain—Dozens of men and a few women in stiletto heels raced through the center of the Spanish capital on Thursday, defying gravity, the heat and attempts by the far-right party Vox to curtail their Gay Pride celebrations this year.

The race in Chueca, a gay-friendly neighborhood in central Madrid, draws competitors from abroad and is one of the most eagerly awaited parts of the annual festival of the lesbian, gay, bisexual and transgender (LGBT) community.

The race attracts the young and old, the athletic and the portly. Reaching the finish line is no easy task: rules state that heels must be at least 10 cm (4 inches) high, and the shoes are measured before the race.

Madrid Pride, one of the world’s largest LGBT celebrations, will culminate in a parade in the city center on Saturday.

The ultra-conservative Vox, a political newcomer that won about 10 percent of the vote in April's national election and recently enabled the center-right to take over the Madrid city hall, has increasingly attacked the festival and LGBT rights in Spain.

Vox wants to move the Pride Parade from the city center to a park in the suburbs.

Vox's Madrid regional branch head, Rocio Monasterio, told La Contra TV on Tuesday the celebrations "denigrate people's dignity."

"When a mother, a father step outside there is no reason for them to stumble into this spectacle... involving explicit sexual acts in the street at daytime."

During the high heels run, there were chants against Vox.

Javier Garcia, a 23-year-old nurse, wants the race to stay in Madrid's center to keep it visible.

"People still have to fight and make visible certain inequalities that are still not fully resolved," he said before taking part in the race.

Garcia said he felt nervous because it was his first time running in Madrid's event, although he had participated in a similar one in the Canary Islands.

The race winner gets 350 euros ($390).

source: news.abs-cbn.com

France roasts in record heatwave, 2 die in Spain

PARIS/MADRID—France registered its highest temperature since records began on Friday as the death toll rose from a heatwave suffocating much of Europe.

The mercury hit 45.9 degrees Celsius (114.6 Fahrenheit) in Gallargues-le-Montueux, in the southern Provence region, weather forecaster Meteo France said, nearly 2 degrees above the previous high of 44.1 Celsius recorded in Aug. 2003.

Twelve towns in southern France saw new all-time highs on Friday and 3 experienced temperatures above 45 degrees, it said.

The World Meteorological Organization said 2019 was on track to be among the world's hottest years, and that 2015-2019 would then be the hottest 5-year period on record.

It said the European heatwave was "absolutely consistent" with extremes linked to the impact of greenhouse gas emissions.

Four administrative departments in France were placed on red alert, signaling temperatures of "dangerous intensity" that are more typical of Saudi Arabia.

The unusually high temperatures are forecast to last until early next week.

In Spain, where temperature peaked above 43 degrees for the second day running, wildfires raged across 60 sq km (23 sq miles) of land in the northeastern Tarragona province. Officials said firefighters battling the blazes on 20 fronts managed to avoid them from spreading.

In the central region, a fire broke out on the outskirts of Toledo, forcing the evacuation of 2 public buildings, a regional official told Reuters.

To the north in Valladolid, a man of 93 collapsed and died due to the heat, police said. And in a small town outside Cordoba, a 17-year-old died of heat-related effects after jumping into a swimming pool to cool off.

Since 1975, Spain has registered 9 heatwaves in June, including 5 in the last decade, according to the Spanish meteorological office.

In France, a boy was seriously hurt when he was thrown back by a jet of water from a fire hydrant. Some 4,000 schools were either closed or running a limited service to help working parents unable to stay at home.

State-run rail operator SNCF offered free cancellations or exchanges on long-distance trips, social workers helped homeless people cope with the heat, and French families with elderly relatives who were ill or living alone were advised to call or visit them twice a day and take them to cool places.

The greater Paris region, Ile de France, has banned more than half of cars from its roads as the stifling heat worsened air pollution, the toughest restriction provided for—although all cars were to be allowed to leave the city as school holidays began.

The cities of Lyon, Strasbourg and Marseille have also restricted traffic.

source: news.abs-cbn.com

40 injured as Spain nightclub floor collapses

MADRID, Spain - Forty people were injured after part of the floor at a packed nightclub on Spain's holiday island of Tenerife collapsed Sunday, sending revelers plunging into the basement, officials said.

Rescuers rushed to the Butterfly Disco Club in Adeje at about 2:30 am (0230 GMT) after a roughly four square metres (43 square feet) of its floor gave way.

The injured included two French men, two British men, a Romanian man and a Belgian woman, local firefighters said.

"After the floor collapsed, the people who were inside fell to the basement from the height of approximately one floor," the regional government of Spain's Canary Islands said.

Video posted by the local fire department on Twitter showed firefighters picking through rubble with their hands in the basement of the nightclub located in a shopping mall.

Authorities said the basement was not in use and so was empty at the time of the collapse.

Britain's foreign office said it was in contact with "a number of British nationals" who had been injured in the incident.

Videos posted on social media showed emergency services workers attending to people on the ground or on benches outside of the nightclub.

Emergency services took 21 people to hospital and treated another person at the scene who was released, the regional government said.

Another 18 people went to hospital by their own means to be treated, the mayor of Tenerife said.

The injuries included broken legs, ankle sprains and bruises. Two of the injuries were deemed serious.

The Butterfly, a popular gay nightclub in Tenerife, features drag shows and Go-Go dancers on Saturday nights, according to its Facebook page.

Video posted by Tenerife firefighters showed a gaping hole right in front of the club's stage.

The club had its licence in order and did not appear to be overcrowded when the floor caved in, the mayor of Tenerife said.

Police have launched an investigation into the incident.

Located off the west coast of Africa, the Canary Islands welcomed 13.3 million foreign tourists last year, making it Spain's second most visited region after Catalonia.

ds/jm

source: news.abs-cbn.com

Thousands in Madrid protest violence against women

Thousands took to the streets of Madrid Saturday to protest violence against women, just as Spain reels from a grisly trial over an alleged gang rape.

Shouting "We're not scared," they marched in the Spanish capital on the International Day for the Elimination of Violence against Women.

At least 45 women have been killed in Spain so far this year by their partner or ex-partner, according to the government's gender violence department.

Protesters held signs reading "how many more must die," shouting "they're not deaths, they're murders."

"I want to show how much I reject the situation in this country," said Jorge Aranda, 40, who works in a health centre, pointing to the 45 deaths this year alone.

"This is unacceptable."

The protest comes as powerful men in the United States and beyond have fallen from grace following allegations of sexual misconduct, starting with movie mogul Harvey Weinstein.

It also coincides with the trial in Spain of five men accused of gang raping a woman, then 18, in July 2016 during the famed Pamplona bull-running festival, a case that has shocked the country.

The men, aged 27 to 29, allegedly filmed the rape and then bragged about it on a WhatsApp messaging group where they referred to themselves as "La Manada", or "The Pack" in English.

Public prosecutors have asked that the five be sentenced to 22 years in prison each. The men say the woman consented to the sexual encounter but have admitted to stealing her mobile phone.

The judge's decision to admit as evidence details about the victim's private life gathered by a private detective -- including her presence at a party a few days after the alleged rape -- has added to anger over the case.

"In Fuenlabrada, sister, your pack supports you," read one large banner in the protest. Fuenlabrada is a town in the Madrid suburbs.

Another read: "You're not alone, I believe you."

source: news.abs-cbn.com

Barcelona edge out Sevilla in bad-tempered Cup final

MADRID, Spain -- Jordi Alba and Neymar struck in extra-time as Barcelona completed a league and Cup double by lifting the Copa del Rey for a 28th time after a 2-0 win over Sevilla in a fiery game that saw three red cards on Sunday.

Javier Mascherano's dismissal just before half-time for pulling down Kevin Gameiro put Barca on the back foot and they were further depleted when 59-goal top scorer Luis Suarez limped off early in the second period.

However, they resisted Sevilla's pressure after the break and Barca's numerical disadvantage was cancelled out in stoppage time when Ever Banega saw red for chopping down Neymar.

Barca dominated the extra 30 minutes, but needed just six to finally make the breakthrough when Lionel Messi's sumptuous pass picked out Alba to volley into the far corner.

Neymar then slotted home a second in the dying seconds from another brilliant Messi assist after Daniel Carrico had also been dismissed for two bookable offences.

"It was a great intense and exciting final," said Barcelona captain Andres Iniesta.

"It was a last push for the club to complete a magnificent season."

Sevilla were looking for a double of their own after winning a third consecutive Europa League by beating Liverpool 3-1 on Wednesday.

However, just as in a thrilling 5-4 defeat to Barca to open the season in the European Super Cup in August, they fell just short as Luis Enrique's men claimed their fourth trophy of the season, having also won the Club World Cup in December.

"It has been a spectacular end to the season," added Barca boss Luis Enrique.

"The team has known how to compete marvellously despite the difficulties we have faced this season."

And Sevilla coach Unai Emery believes his side's exertions in midweek robbed them of the energy needed to make their numerical advantage count.

"We lacked freshness. If we had have been fresher we would have been able to create more chances," said Emery.

"Barca didn't have many opportunities, but they were efficient."

- Anthem jeers -

The political fallout over an initial ban on Catalan separatist flags by the Madrid authorities that was eventually overturned on appeal in the courts continued before kick-off as Barca fans jeered the Spanish national anthem.

The game appeared to swing Sevilla's way nine minutes before half-time when Mascherano hauled down Gameiro just outside the box as he bore down on goal.

Banega nearly doubled Barca's punishment as his sweet strike from the resulting free-kick was brilliantly tipped over the bar by Marc-Andre ter Stegen.

Sevilla roared back from a goal down at the break to outclass Liverpool in midweek and started the second-half with intent once more as Banega's low drive came back off the post.

Barca were then dealt another huge blow just before the hour mark when Suarez pulled up with a muscle injury before leaving the field in tears with his chances of representing Uruguay at the Copa America next month now in jeopardy.

Sevilla were camped in the Barca half for much of the second half, but struggled to create clear-cut chances.

Grzegorz Krychowiak saw a deflected effort flash just wide, whilst Vicente Iborra's appeals for a penalty after he clashed with Dani Alves were waived away.

Parity was restored in numbers on each side in stoppage time when Banega saw red for tripping Neymar on the edge of the area, but Sergio Rico tipped over Messi's resulting free-kick to take the game into extra time.

However, the Spanish international was left flat-footed when Alba latched onto Messi's ball over the top six minutes into extra-time and volleyed across goal into the far corner.

Rico kept Sevilla in the game with brilliant saves from Pique and Sergio Busquets, whilst Dani Alves also hit the post from distance as Barca threatened a second.

Sevilla's hopes of an equaliser were ended when Daniel Carrico was also sent-off for a second bookable offence.

And Messi promptly teed up Neymar to round off Barca's fourth Cup triumph in eight years in stoppage time.

source: www.abs-cbnnews.com

Kinilaw impresses crowd in Madrid Fusion

Last Monday saw a major culinary milestone for Philippine cuisine. For the first time ever, Filipino chefs took the Madrid Fusion stage to present our very own kinilaw.

Margarita Forés and Myrna Segismundo introduced the much-loved dish before a crowd of hundreds. The chefs talked about the history and composition of kinilaw. They presented three versions of it, each inspired by the produce of our island groups, Luzon, Visayas and Mindanao.

The crowd's reaction was quite warming and fulfilling. As a member of the Philippine contingent, it's hard not to feel proud after watching the whole presentation.

There were many people responsible for the production of the whole presentation, including credible sources like Patrick and Pia Roa of Patricio’s Restaurant in Taguig. Qatar Airways and NutriAsia have also helped in making the project possible.

This story first appeared in Coconuts Manila. For more stories, go to Coconuts Manila.

source: www.abs-cbnnews.com

Marvin's Spanish resto offers chocolate, paella and more

MANILA -- What started out as a short trip to Madrid for Marvin Agustin has resulted in the new Spanish restaurant Alqueria, the latest member of the actor-businessman's burgeoning Sumo Sam group of restaurants.

Agustin said he was supposed to stay only for a couple of days but ended up extending his visit for two weeks as he immersed himself in Spanish culture and the cuisine. When he got back to the Philippines, the timeline for Alqeria, located at SM Megamall's swanky Mega Fashion Hall, was accelerated.

“Alqueria” is the Spanish word for the “farmhouse” that was used as homes by rural families. Today, these farmhouses are now used as gathering places.

Resident chef Adrian Nieto is no stranger to Spanish farmhouses having grown up in one. He recounted memories of him growing up in the farm and cooking since he was 11. He boasted that he ended up cooking the family paella because his mom thought his version tasted better.

This is the dining experience Alqueria wants to give.

While most Spanish restaurants in Manila are intimate and traditional, Alqueria, with its bright interiors and open kitchen, is chic and cheery.

Start with the Inasalata Mista (P328), Alqueria’s version of the tuna salad with romaine and tomatoes in olive oil.

You can also opt to start with Spanish tapas like Ancietos de Olives (P228), fresh olives in adobo sauce; and the Chorizo Frito (P228), homemade chorizo with bread and aioli.

Alqueria features new twists to Spanish cuisine, but at the same time, respecting tradition. This is most apparent with the paellas.

Old favorites like the Paella Valencia (P398) and the Paella Negra (P398) are on the menu, along with new variants such as the Paella Del Carne (P388), an all-meat paella; and the Paella Quezo Manchego (P398), made with Spanish chorizo and topped with Manchego cheese, which demand a second visit.

Besides paella, other Spanish staples like Callos (P438) and Lengua Estofada (P398) are also available. Of note is the Bacalao a la Vizcaina (P538), based on an an old family recipe of Nieto, which has the fish simmered in a sauce of reduced tomato and red peppers.

Another favorite is the Cochinillo (P4,998), a roasted suckling pig, served to guests in a traditional manner that uses a ceramic plate to slice the crunchy skin of the pig. Although the pig is tasty on its own, it is served with the chef’s secret sauce. Diners have to phone two days in advance if they want a whole cochinillio to themselves.

Alqueria is also a chocolateria featuring Valor chocolates, the best-selling chocolates in Spain. This adds richness to Alqueria’s signature hot chocolate, Chocolate Caliente (P98).

 Accompany this with the churros, which are wonderfully crunchy on the outside and are the perfect ending to a meal when paired with the melted Valor chocolate dip. Churros are available in servings of three pieces (P168) or five pieces (P248) with either melted milk, dark or white chocolate for your dip. Valor chocolate bars are also available for sale.

Alqueria’s price range that will pleasantly surprise visitors. It is affordable compared with other established Spanish restaurants in the city without comprising taste and flavor. Couples who are going on dates, or families wishing to indulge on Spanish food will be feel very comfortable here.

_________________

Alqueria Restaurante Y Chocolateria
3/F Mega Fashion Hall
Building D, SM Megamall

source: www.abs-cbnnews.com

Michu set for Spain debut

MADRID, Spain - Swansea City's free-scoring striker Michu is set to make his Spain debut early next year following a sensational start to his career in the English Premier League.

Vicente del Bosque, coach of European and world champions Spain, told Spanish television that the 26-year-old will play in the Feb. 6 friendly against Uruguay in Doha.

Michu will be joined in the Spain squad by Iago Aspas, currently being linked to Swansea, whose manager Michael Laudrup is an admirer of the Celta Vigo forward.

"Iago Aspas and Michu will appear (against Uruguay)," confirmed Del Bosque.

Michu has been prolific since his bargain $3.2 million transfer from Rayo Vallecano in the summer, topping the Premier League scoring charts with 13 goals in 18 games.

He leap-frogged Manchester United's Robin van Persie after scoring the equaliser in Sunday's 1-1 home draw against the league leaders.

Aspas may well be on Laudrup's wish-list for the January transfer window but the expected price tag of around $13 million could put Swansea off.

source: abs-cbnnews.com

Spain banks' bad loans hit new high

MADRID - The ratio of bad loans held by Spanish banks, mainly for property, hit in May the highest level since 1994, at 8.95 percent, the country's central bank said on Wednesday.

The value of loans considered "doubtful", at risk of not being repaid, reached 155.841 billion euros ($192 billion), equivalent to 8.95 percent of total loans extended by Spanish banks, figures released by the Bank of Spain showed.

The figure has been steadily rising this year, from 8.15 percent in February to 8.37 and 8.72 percent in the subsequent two months, is is likely to climb significantly higher still, according to one economist.

In late 2008, the ratio of bad loans held by banks in Spain was only 3.37 percent, but a bursting real-estate bubble revealed a core weakness that has resulted in Madrid requiring help from eurozone partners.

On June 9, eurozone countries unveiled a plan that would provide up to 100 billion euros to underpin distressed Spanish banks, which are to concentrate their risky loans in a so-called bad bank by November.

Aid for Spanish banks became a top priority after Bankia, the third largest by assets, called in May for a government bailout estimated to cost 23.5 billion euros.

Eurozone finance ministers are to determine on Friday the details of their plan to help the banks, which should lead to the unblocking of 30 billion euros by the end of the month.

That sum is to be held in reserve in case a bank urgently needs fresh cash.

On Monday, the International Monetary Fund highlighted concern about the precarious situation at Spanish banks as it forecast that Spain would remain in recession next year.

For 2012, the Spanish government expects economic activity to contract by 1.7 percent.

IHS Global Insight economist Raj Badiani forecast that "with the recession now expected to last throughout 2012 and 2013, the bad bank loan ratio is likely to remain on an upward trajectory, and could breach 10 percent by the second half of 2013."

Badiani added that "we expect Greece to exit the euro no later than the third quarter of 2013, with the Spanish economy projected to a take a considerable hit" as a result.

Falling Spanish property prices in particular "would place additional pressure on existing bank loans to the construction sector and property services," the economist noted.

They stood "at a still-substantial 391.889 billion euros, or 36.9 percent of nominal GDP (gross domestic product) in the first quarter of 2012," he said.

source: interaksyon.com

Spain bank rescue now faces markets test

MADRID -- Spain's government has declared victory after performing a U-turn and agreeing on a eurozone rescue for its banks; now it is the markets' turn to say if they agree.

Investors' reaction to the 17-nation eurozone's agreement to provide a loan of up to 100 billion euros ($125 billion) for distressed Spanish banks, will be pivotal, economists said.

Economy Minister Luis de Guindos insisted the deal was not a rescue, just a loan that imposes conditions on the banks.

Prime Minister Mariano Rajoy, who flatly declared 13 days earlier that Spain's banks would not be rescued, went further Sunday and described the aid as a win for Spain and Europe.

But the liability for the eurozone financing rests fully with Madrid and the cost will be added to Spain's total public debt, said Saxo Bank chief economist Steen Jakobsen.

If Spain took a loan of 100 billion euros in one go, it would increase the public debt by 10 percentage points.

"A bail-out is a bail-out Spain, sorry," Jakobsen said in a report.

He was also gloomy about the market outlook.

"Markets seem to think this will lead to strong open -- I doubt this is more than a 24-hours' rally," he said.

The banking rescue was only the start of a long process, said Edward Hugh, independent economist in Barcelona.

"Every time we have seen more money injected in this whole thing, more money has gone less far," he said.

Investors could decide to attack Italian debt and ease pressure on Spain until the Greek election June 17, when it is feared voters could reject austerity measures and prompt a eurozone exit.

"It is only when something actually happens, if anything does happen with Greece that then you would see the Spanish (borrowing costs) spike again," Hugh said.

Spain may be forced into seeking a full sovereign rescue when it has to face the question of financing in the debt-laden regions, he predicted.

"This could start from the autumn," Hugh added.

"This would officially be the bailout; they would find they could not manage it with a credit line so they would have to go for a bailout."

Other analysts were relatively positive about the immediate market reaction.

"The bailout will certainly buy the Spanish government time and improve Spanish banks' access to funding," said a report by financial market research group CreditSights.

Rumours of the impending assistance helped Spain meet its fund raising targets in an bond auction last week, it said.

"But it won't provide a lasting fix for the problems faced by Spain and we still believe that a request for (full EU) assistance is on the cards," the group said, adding: "Though the time until one is required has now been extended."

Anton Losada, political science professor at the Santiago de Compostela University, said that if the pessimists were right, Spain could be locked out of the bond markets and find its debt downgraded to junk bond status.

"Then the rescue would have to be broadened, obviously."

source: interaksyon.com

Spain slides back into recession in first quarter

MADRID - Spain's gross domestic product shrank by 0.3 percent in the first quarter after contracting at the same rate in the final three months of 2011, confirming a return to recession, according to final statistics published Thursday.

The figures confirm preliminary data issued in April by the National Statistics Institute (INE), underscoring the precarious state of the eurozone's fourth biggest economy, which is battling a record high 24.4 percent unemployment rate.

An INE statement said that weaker domestic demand, including household consumption and public spending, had undermined growth as Spain struggles with austerity measures aimed at cleaning up its finances.

Spanish exports and its tourism sector have not been able to make up the difference, owing to a generally weaker economic climate elsewhere in Europe.

Spanish growth had depended to a large extent on the construction sector, which went into a slump in 2008, and the country's last recession lasted until early 2010.

Spanish officials acknowledge that the economy is going through one of its toughest ever moments, but have voiced optimism for the future.

Economy Minister Luis de Guindos has estimated that gross domestic product will shrink by 1.7 percent this year, but forecasts slight growth of 0.2 percent in 2013.

The national foundation of savings banks, Funcas, is less optimistic, and estimates that the recession will last until the second half of 2013.

Analysts at Commerzbank expect Spain to be the only eurozone country still in recession next year, with a drop in GDP of 0.3 percent.

source: interaksyon.com

Spain mulls hiving off bank bad loans

MADRID - Spain's government said Monday it is studying a scheme to remove the massive weight of bad property-related loans crushing the banking sector.

The proposed solution would allow banks to split off their bad loans and place them into a separate agency, an Economy Ministry official told AFP, speaking on condition of anonymity.

The agency would not be a 'bad bank' -- a special vehicle used in other countries such as Ireland to help stabilize the banking system and the economy -- because the state itself would take no part, the official said.

Banks who joined the scheme would have to set aside financial provisions that recognize the sharply reduced market value of the loans, extended during a huge property bubble that imploded in 2008.

"What we are speaking about is a type of agency where several banks could come together or one could do it perhaps with an outside partner, so they can externalize their property assets," the official said.

"It is so banks can go back to doing their work as banks and someone else can take care of selling the assets.

"Conditions will be imposed and one of them will be that the banks have to make the requisite provisions for those assets. We think that the provisions should be close to the market value of the assets."

The state would not take part but foreign investors could be invited to join, the official said.

"It is an idea we are considering, one possibility," the source stressed.

Bank of Spain figures on Friday showed commercial banks held problem real estate loans worth 184 billion euros, some 60 percent of their property portfolio at the end of 2011.

Central bank figures show that the ratio of bad loans -- those at least three months in arrears -- hit an 18-year high in February of 8.15 percent of total credit extended, the highest since 1994.

Another financial source close to the matter, also speaking on condition of anonymity, said the study was "still a bit green.

"They are looking at what is the most appropriate solution to remove the property assets from the banks' balance sheets," the source said.

"What seems clear is that it will not be a 'bad bank' because there will be no public money behind it."

The conservative daily El Mundo said the Bank of Spain had appointed BlackRock's Financial Markets Advisory division and management consults Oliver Wyman as advisors on cleaning up Spanish banks' balance sheets.

BlackRock had helped to design the Irish 'bad bank,' the National Asset Management Agency which took over the banking sector's bad debt as part of a wider bailout for Ireland, the newspaper noted.

Neither BlackRock nor Oliver Wyman were immediately available to comment.

source: interaksyon.com

Spain's jobless rate climbs to a record in industrialized world

MADRID - Spain's jobless rate shot to 22.85 percent at the end of 2011, the highest in the industrialised world, as more than half of young people were out of work, official data showed Friday.

The number of unemployed burst through the five-million mark, surging 295,300 to 5.27 million in the last quarter of 2011, the National Statistics Institute report showed.

As a result, the jobless rate at the end of 2011 surged to a near 17-year record, rising from 21.52 percent the previous quarter, the National Statistics Institute report showed.

Even more dramatic, the jobless rate among those aged 16-24 climbed to 51.4 percent at the end of the year from 45.8 percent on September 30.

The figures are a grim portent for Spain, widely considered to be sliding in to a recession in 2012 with jobless numbers set to rise even further as the new right-leaning government slashes spending further.

source: interaksyon.com