Tuesday 17th of July 2018

borrowing cojones...


The Spanish government's cost of borrowing has hit a new record amid renewed concerns over the state of its economy and public finances.

The interest rate Spain is being asked to pay by investors is now 2.23 percentage points higher than that being demanded of Germany.

This widening gap in the bond market marks a drop in confidence in Spain's ability to repay its debts.

The Spanish cabinet has also approved unpopular changes to labour rules.

"It is a necessary labour reform," said Deputy Prime Minister Maria Teresa de la Vega. "One of the most important reforms of the last 20 years."

The changes, which include a cut in the level of severence pay, have prompted a call for a general strike in September.



Meanwhile in Mexico....

Cowardly Mexican matador Christian Hernandez was arrested for breach of contract after fleeing the bullring in a fit of panic as he battled a bull in Mexico City.

The 22-year-old, who looked dashing in a pink and gold costume, froze after evading a charge from a half-tonne bull. Then, after a moments thought, he decided that he would be safer on the other side of the wall, so he dropped his cape and ran for it.

He later returned to the ring, albeit briefly, to a chorus of boos and whistles as the furious crowd made its displeasure with the youngster abundantly clear.

To add insult to injury he had to pay a fine before he could make good his escape, after the organisers oif the bullfight had him arrested for breach of contract.

But it seems there was some method in Hernandez's madness, as the youngster had been gored in the leg a month before his latest, and presumably last, appearance in the ring.

Read more: http://www.thefirstpost.co.uk/64564,life,video,video-cowardly-mexican-matador-christian-hernandez-flees-bullring-in-panic#ixzz0r66LXH6Y

The more debt, the more they hammer you...

There are also worries that spending will hamper its recovery from recession, with its unemployment rate of 20% - the highest in the eurozone - a significant concern.

The government has approved long-awaited labour market reforms, which it says will encourage firms to hire more people, easing the jobs crisis.

But the plans have met with demonstrations from unions, who fear the changes will hurt workers' rights.

The reforms still have to be ratified in a parliamentary vote later this month.