• Fri
  • Aug 22, 2014
  • Updated: 11:54pm


After adopting the euro, the Spanish economy initially benefited from sharply lower interest rates, spurring a property bubble. However, with the onset of the global financial crisis, property prices collapsed, causing widespread layoffs, and pushing unemployment to more than 26 per cent by the end of 2012. Spain received a bank bailout from the European Central Bank in 2012. 

Spain king's son-in-law distances royal family from fraud scandal

Spanish King Juan Carlos' son-in-law Inaki Urdangarin was questioned by a judge on the island of Majorca over allegations that he embezzled millions of euros of public money paid to Noos, a charity he managed.

Sunday, 24 February, 2013, 6:25am

Extradition refusal reflects poorly on Spain

Hong Kong has regrettably lost a long-running battle in the Spanish courts to have a high-profile fugitive accountant sent back for trial in connection with an alleged multimillion-dollar fraud case. In a landmark ruling last week, Spain's highest court ordered that Gabriel Ricardo Dias-Azedo - who allegedly fleeced investors out of more than HK$90 million and was arrested in a casino in the Spanish city of Salamanca in 2010 - be freed on the grounds that Hong Kong, not being a sovereign state, had no power to ask for his return.

20 Feb 2013 - 4:12am

Fraud case fugitive Azedo freed by Spanish court

A fugitive accountant wanted over an alleged multimillion-dollar fraud has been freed from custody in Spain after that country's highest court called into question the independence of Hong Kong's legal system. The Constitutional Court of Spain ordered the release of Gabriel Ricardo Dias-Azedo after a battle to have him extradited that has lasted more than two years. The court argued that Hong Kong had no power to ask for his return because it was not a sovereign state and did not have a reciprocal extradition treaty with Spain.

19 Feb 2013 - 6:02am 2 comments

Protests erupt after Spain PM denies corruption

Speaking at a special executive committee meeting on Saturday at his party’s Madrid headquarters, Prime Minister Mariano Rajoy said “it is false” that he received or distributed undeclared money.

3 Feb 2013 - 11:38am

Rajoy breaks his silence on corruption scandal

Spanish Prime Minister Mariano Rajoy yesterday fought back over allegations that he received undeclared payments from his ruling party, as he sunk deeper into a major corruption scandal.

3 Feb 2013 - 5:26am

Soccer's transfer world is suffering from global crisis

The global economic crisis is causing a major shift in the demographics of European soccer with cash-strapped Spain and Portugal witnessing an exodus of talent to rival leagues, a study has found.

26 Jan 2013 - 4:16am

Joy for thousands of Spain's El Nino US$1.1b lottery winners

Thousands of winners of Spain's US$1.1 billion El Nino lottery broke open champagne and wept for joy, savouring their luck at a time when the country faces its most severe economic crisis in decades .

8 Jan 2013 - 6:59am

Spanish King Juan Carlos expresses 'energy and hope' in times of crisis

Spain's King Juan Carlos said he had "energy and hope" to continue ruling in his first public interview in more than a decade, after a year blighted by scandals.

6 Jan 2013 - 3:40am

Sport Digest, December 23, 2012

Spain's anti-doping body mixed samples

23 Dec 2012 - 3:43am

Short Soccer, December 23, 2012

Ibrahimovic opens floodgates for PSG

23 Dec 2012 - 3:43am