How Is the US Going to Pay for All This Stimulus Spending?

At time of writing the United States owed $19.3 trillion in public debt. It owed another $5.9 trillion in debt held by its own agencies. Together, these figures come to a national debt of $25.2 trillion. With substantially more coronavirus spending almost certainly still to come, 2020 will be one of the most expensive years in U.S. history. As a percentage of gross domestic product (GDP), the coronavirus response has already pushed government spending to its highest levels since World War II ( [...]

Update on Spanish Mortgages & COVID-19

My perspective on Spanish mortgages and Covid-19- Author : Simon Staples from Mortgage Direct - There is no doubt that these times are very worrying for millions of people around the world, but as I write this update today it is really uplifting to know having spoken to numerous potential buyers over the past 2 weeks that the spare downtime that some have available is being used positively and constructively with regards to re-evaluating (and re-enforcing) their plans, lifestyles [...]

Watchdog warns of ‘opportunistic’ covid-19 scammers

Consumers have already been contacted by fraudsters looking to steal their money When the outbreak of coronavirus started to become serious and spread across the globe, criminals exploited the situation by selling fake face masks and hand sanitiser. Financial services scammers are no exception. The Financial Conduct Authority (FCA) has warned the general public that fraudsters are already operating and targeting vulnerable people by exploiting their financial concerns. “The sca [...]

Bank won’t release funds after someone dies

The bank won’t re­lease funds after someone dies. This situ­ation can be so frus­trat­ing. After a par­ent or mem­ber of the fam­ily dies, you go to the Span­ish bank, show them the death cer­ti­fic­ate. And they still will not un­block the ac­count or re­lease funds. Why the Bank will not release funds? It does­n’t mat­ter whether the as­sets of the de­ceased in Spain are a prop­erty, car or bank ac­count. These can­not be ac­cessed by heirs or next of kin without a Span­ish pro­bate pro­c [...]

UK company invests in mega solar projects in Spain

UK-based solar energy company, Solarcentury, has secured new financing to build two of the largest solar plants in Spain. UK Export Finance (UKEF), the UK’s export credit agency, has guaranteed £47.6 million worth of financing for Solarcentury, in a boost to UK solar exports. Together, the developments will generate enough energy to power more than a quarter of a million homes each year with renewable energy. The new banking facilities comprise a £24.7 million trade loan facility fro [...]

Brussels asks Spain not to spend €22 billion it could save from low interest rates

Thanks to the policies of the European Central Bank (ECB), Spain could save up to €22.3 billion over the next four years if interest rates remain stable. Such savings would create a significant buffer for the next government, which will have to deal with persistently high debt levels. Madrid will also have to send Brussels a new budget plan with corrective measures that are not included in the latest draft it gave to EU authorities. In fact, Brussels is already telling Madrid to use thos [...]