The property market in Spain suffered another drop in value last year, but several regions reported a rise in prices.
Majorca in particular was still attracting buyers, especially expats, during the year. In a league of its town, prices rose nearly 5% in the third quarter of 2013, compared to the same period in 2012, as reported by the Spanish development ministry.
Jorge Moreira da Silva, Portugal's environment minister, said today that his department has been authorised to spend €300 million on coastal defences in the next two years.
A the stable door swings in the breeze, the horse having bolted days ago, the clean up bill after the storm remains unaddressed but a 'coastal defence review' has been started to address the issue of the country's sea defences.
The year 2013 was the first year since 2009 in which insolvencies decreased in all of Portugal’s regions, with the exception of Lisbon.
Over 35,000 new companies were registered last year which represents an increase of almost 13% over the previous year. About half are small businesses with under €5,000 registered capital. For every company that closed in 2013, two new ones opened.
The policy committee of the Social Democrat Party (PSD) in Olhão has justified rejecting the 2014 budget as it members were "trying to avoid increasing the council’s debt by more than €8.5 million."
Socialists Party (PS) members in Olhão accused the Social Democrats of being "two faced" after two of the ruling Social Democrat councilors abstained, which left the budget in tatters amid claims of "total outrage."
Unemployment in the eurozone held at 12% during November 2013.
Portugal’s rate was also stable at 15.5%, but a welcome fall from November 2012 when it was running at 17%.
At the same time, retail sales in the region grew significantly with a 1.4% increase. This was the greatest rise since November 2001, led by good sales of non-food products.
Greece has taken on the six-month role of EU president, using the opportunity to criticise austerity, spending cuts and fiscal policy laid down by Berlin and Brussels.
It said these policies could no longer be tolerated.
Greece has experienced the sharpest end of Europe’s debt crisis as well as receiving €250 billion in bailout money.
The US Embassy in Berlin has issued a travel warning for Americans going to Hamburg.
German police last month cracked down on protestors which led to some of the worst rioting in Germany in years.
Over the weekend, continued skirmishes led the police to declare parts of Hamburg “danger zones”.
The December 2013 increase in hotel occupancy in the Algarve, compared to 2012, was not reflected in a 'proportional increase in the volume of business generated,' according to the prophet of doom from the Association of Hotels and Resorts in the Algarve (AHETA), Elidérico Viegas.
“The average occupancy rate per room in December 2013 was 26.1% representing an increase of 4% compared to 2012 but cash turnover increased by only 2.2% - a common trend in recent years,” said Elidérico Viegas.
