Ratón the bull at a festival in Sueca, Spain. Photograph: Alberto Saiz/AP
Monday, 26 September 2011
Police keep close watch on Ballarat as bikies visit
Sunday, 25 September 2011
El Hierro prepares for a possible volcanic eruption
Canary Island of El Hierro is preparing for a possible volcanic eruption as the Canaries have lifted the alert level to yellow for the first time in the recent history of the archipelago following a group of ever-stronger earthquakes. Saturday night saw a 3.4 quake among a total of 48 seen over the weekend. The fear is that there could be a possible volcanic eruption on the island of El Hierro, but the Councillor for Security, María del Carmen Morales, called for calm. ‘These seismic movements are normal given that we are on a yellow alert and we have never seen a similar crisis’. She said that more movements were expected over the next few days given that the magma has been estimated to be active 15 kms below the surface. They estimate the possibility of a volcanic eruption to be 15%. Despite the low possibility the regional government are carrying out an information campaign in case evacuation of the island is needed. They say there will be plenty of time, in the case of an eruption, to evacuate the population to a safe place.
Canadian gold diggers look to Coruña
Canadian company, Edgewater Exploration, are to reopen an old gold mine in Coruña and say they will employ 100 people in Cabanas de Bergantiños in the efforts to extract a million ounces of the metal. An ounce of gold is currently 1,800 € on the market. The Las Médulas mines have a long and distinguished past, and were responsible for ten percent of the Roman empire, as 96,000 kilos of gold was taken over 250 years as the Romans used thousands of slaves to find the metal. The new gold fever is the first in the area for 2,000 years. Despite their advanced plans the company is still waiting for a licence to proceed from the Xunta de Galicia.
Spain 'a Top Choice' For Those Thinking Of Moving Abroad
Saturday, 24 September 2011
Germans don't like the British, and the British are the majority in Benidorm
A spokesman said part of the problem was that the Germans don't like the British, and the British are the majority in Benidorm hotelsPhoto EFE Air Berlin has cancelled five direct flights from El Altet airport as the company puts a tough cost cutting scheme into operation with the goal of saving 200 million €. The plan will leave 18 planes on the ground, and Alicante is reportedly hard hit because of the high seasonality of traffic at El Altet. In addition numbers show a marked fall in German traffic using the airport this August compared to last, down 22% with 78,988 German tourists. A spokesman for the airline is reported by Europa Press of having commented that part of the problem is that the Germans don’t like the British, and the Brits are the majority in Benidorm hotels. The town’s hoteliers have described that as ‘an urban legend’. The cutbacks come into effect in November and will see the number of direct destinations from Alicante reduced by 45%. The lost destinations are Frankfort, Munich, Nuremburg, Stuttgart and Zurich. The airlines connections to Berlin, Hamburg and Palma remain. The Air Berlin decision follows the earlier announcement from Ryanair reducing flights from Alicante, and dispels the opinion voiced by the PP at the time that Air Berlin could take up those vacant slots. Air Berlin is one of five airlines which use El Altet airport currently.
Spanish jail-house film shows without on-the-run actor
A Spanish prison screened a short film made by inmates Friday with one missing ingredient -- a key actor in the jail-house drama is on the run. Inmates spent months making "Guilty", about a murderer haunted by his victim, to show in an annual festival behind bars in Leon, northern Spain, a prison official and media here said. "Among the inmates taking part, there was one in the final stages of his sentence who was allowed out regularly with leave, but who did not come back from one of those leaves," said a prison service spokeswoman. Prisoners completed the film without the missing actor who disappeared at least two months ago, said the spokeswoman for the Secretary General of Penitentiary Institutions. She denied reports he had the leading role. "He may have had some more important scenes but he was not not necessarily the hero." The actor is being sought for breach of a six-year drug-dealing sentence, which had been due for completion in 2012, she said, stressing that he was not considered a danger.
Friday, 23 September 2011
Costa del Sol’s oldest magazine shuts its doors
The Costa del Sol’s oldest magazine is reported to have closed down after running its final edition on Friday. The Friday-Ad – which continues to run a UK operation boasting over 1 million readers a week – had produced a Costa del Sol edition out of its Gibraltar offices since 1975. The reason behind the decision to close remains unclear. When the Olive Press attempted to contact the publication’s office, the number failed to connect. However, a member of staff in the UK office confirmed that it was their understanding that the Costa del Sol edition had closed. “As far as I am aware that was the plan (to close on Friday) but you will need to call back in 10 minutes to speak to someone who can confirm that,” she said.
Barcelona's last bullfight marks end of an era in Spain
Spain fears pain as Ratón the killer bull prepares to enter ring for last time
It is the end of a long career, deemed venerable by those who admire Spanish fighting bulls.
In the early hours of Sunday morning, the half-tonne 11-year-old killer bull known as Ratón, or Mouse, will feel a bullring's sand under his hooves and sniff the scent of commingled human adrenaline and fear for the last time.
Those who pay their €2.50 (£2.20) in Canals, eastern Spain, will witness the final chapter of a life spent chasing, and occasionally goring, people. Fans are expected to arrive from around the country.
Many will be secretly hoping Ratón, who has killed two and reportedly gored five others in his career, will draw blood at his valedictory outing in the small town near Valencia. A fiesta poster promises "a show with the presence of the famous Ratón" starting at 12.30am. It does not mention that Ratón killed a spectator in nearby Xátiva last month and another man in 2008.
Canals mayor, Ricardo Cardona, claims to have been unaware of Ratón's bloody past when hiring him. He has asked the bull's owner, Gregorio de Jesús, to prevent members of the public coming face to face with the beast.
Four professional recortadores, or bull-taunters, will instead dodge in front of him in the bullring, encouraging him to chase them over obstacles for up to half an hour.
"It is when someone jumps in spontaneously that things inevitably happen," De Jesús said this month.
Police and security staff will try to prevent enthusiastic amateurs jumping into the ring with Spain's most infamous bull.
The future of Ratón, who is past retirement age, remains uncertain. De Jesús wants to clone the bull but is waiting to hear if he will receive local government funds to pay for it.
Spain’s central bank reported this week that things were getting worse for that country’s banks
Spain’s central bank reported this week that things were getting worse for that country’s banks — but not because they held a lot of Greek debt or bonds issued by other troubled European economies. The problem, instead, is the same old one. With Spain’s economy weak and home prices falling, bad loans are growing. And the central bank thinks things are getting worse. In a surprisingly frank presentation to investors in London on Tuesday, José María Roldán, the Bank of Spain’s director general of banking regulation, said that Spanish land prices had fallen about 30 percent from the 2007 peak, adjusted for inflation, and that home prices were off about 22 percent. “In both cases, we expect further corrections in the years to come,” he said. For land prices, he said, the bank’s “baseline scenario” was that prices would fall to little more than half of the peak level. The “adverse scenario” indicated that the decline could be significantly worse. That was a significant change from a presentation he made in February. Then, with home prices down about 18 percent from the peak, he argued that the decline was similar to past cyclical downturns and that prices were likely to begin rising soon. Remarkably enough, collapsing home prices have not left Spanish banks holding large amounts of bad mortgage loans, thanks largely to the fact the Spanish mortgage market operated during the boom in far different ways than the American market. But if lending to home buyers was conducted in a far more prudent manner than it was in the United States, lending to real estate developers and construction companies was, if anything, more irresponsible. The higher land prices went, the more eager the banks were to push out loans. The story of how Spain’s banks got into the mess — and the way its mess differs from that of American banks — show that it is impossible for banks to walk away from a collapsing bubble in real estate. It also shows that the structure of mortgage markets can make a major difference in how a collapse plays out. The figures released by the central bank this week showed that by the middle of this year, 17 percent of Spanish bank loans to construction companies and real estate developers were troubled — or “doubtful,” the term favored by the central bank. That figure has been rising rapidly, reflecting the deterioration in real estate values. When the financial crisis first broke out, in 2008 and 2009, it appeared that Spanish banks were in a better position than most, in part because of regulation that had kept the big banks from making some of the mistakes others made. But it turned out that smaller Spanish savings banks were heavily exposed to a real estate market that had outpaced even the United States’ market for a time during the first decade of this century. That market continued to rise after the American housing market stopped climbing. The Bank of Spain has created a program to force mergers of the smaller banks and to bring in better management. It has put about 11 billion euros into the banks to recapitalize them, and is putting in another 15 billion euros in a process that is supposed to be completed by the end of this month, said Antonio Garcia Pascual, the chief Southern European economist for Barclays Capital. But, he added, “our estimate is that the overall number needed is closer to 50 billion euros.” The banks are bleeding from loans secured by raw real estate, and from loans for construction. The pain is made worse because such lending soared during the property boom. It is those loans that are now devastating bank balance sheets, as developers who borrowed to build offices, stores and neighborhoods saw demand dry up and now cannot pay the banks back. Other corporate loans are also showing weakness, as would be expected when unemployment is above 20 percent and not expected to improve for at least two years, but less than 5 percent of those loans are said to be doubtful. There are also signs of trouble in car loans and other loans to individuals.
