Banca Cívica, S.A. was a bank created as a result of the European debt crisis as an emergency response by the Spanish government, the European debt crisis, was a multi-year debt crisis that has been taking place in the European Union, since the end of what year?
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Banca Civica Banca Cívica, S.A. was a bank created as a result of the European debt crisis as an emergency response by the Spanish government regulatory authority "Institutional Protection System" (Spanish: "Sistema Institucional de Protección", or SIP) that comprised the savings banks of Caja Navarra, Caja Canarias, Caja de Burgos and Cajasol. It became part of CaixaBank on 3 August 2012, at which time shares for the company ceased to be quoted.
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European debt crisis The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009. Several eurozone member states (Greece, Portugal, Ireland, Spain and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other Eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
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Price revolution Price revolution, sometimes known as the Spanish Price Revolution, is a term used to describe a series of economic events from the second half of the 15th century to the first half of the 17th century. The price revolution refers most specifically to the high rate of inflation that occurred during this period across Western Europe. Prices rose on average roughly sixfold over 150 years. This level of inflation amounts to 1–1.5% per year, a relatively low inflation rate for the 20th century standards, but rather high given the monetary policy in place in the 16th century.
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2016 European Union bank stress test The European Union-wide banking stress test 2016 was conducted by the European Banking Authority (EBA) in order to assess the resilience of financial institutions in the European Union to a hypothetical adverse market scenario. The stress test was formally launched on 24 February 2016 with a publication of the final methodology and templates as well as the scenarios. It covered over 70% of the national banking-industry assets in the euro area, each EU member state and Norway. 53 EU banks participated in the exercise, 39 of which fall under the jurisdiction of the Single Supervisory Mechanism (SSM). The outcomes of the exercise, including banks' individual results, were published on 29 July 2016, at 22:00 CET.
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European Systemic Risk Board The European Systemic Risk Board (ESRB) was established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU. It shall contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth.
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Second Rajoy Government The second Rajoy Government was formed after King Felipe VI nominated Mariano Rajoy to form a government following the 2016 general election on 26 June. After the 2015 general election proved inconclusive and both the People's Party and the Spanish Socialist Workers' Party remained unable to elect a new Prime Minister, a 314-day political deadlock and a new election ensued. Rajoy was elected Prime Minister on 29 October by the Congress of Deputies, after a failed investiture vote in September, and was sworn into office on 31 October, with his cabinet being appointed four days later. It succeeded the first Rajoy Government.
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Central Bank of Cuba The Central Bank of Cuba (Spanish: "Banco Central de Cuba" , BCC) is the central bank of Cuba. It was created in 1997, to take over many of the functions of the National Bank of Cuba (Spanish: "Banco Nacional de Cuba" ). From its creation, until May 2009, the President was Francisco Soberón Valdés and the current head is Ernesto Medina Villaveiran.
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Unemployment in Spain Unemployment is a worldwide problem but in Spain it is higher than in other Western European countries. Unemployment fell to 8% between 2006 and 2007 but from the Spanish economic crisis of 2008 the rate quickly rose past 20% in 2010 and 25% in 2012. Unemployment in some regions of Spain is slightly less than in others, but it tends to be one of the highest in the European Union whatever the state of the economy.
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Eurobonds European bonds are proposed government bonds issued in Euros jointly by the 19 eurozone nations. The idea was first raised by the European Commission in 2011. Eurobonds would be debt investments whereby an investor loans a certain amount of money, for a certain amount of time, with a certain interest rate, to the eurozone bloc altogether, which then forwards the money to individual governments.
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Bank tax A bank tax ("bank levy") is a tax on banks. One of the earliest modern uses of the term "bank tax" occurred in the context of the financial crisis of 2007–08.
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Banking in Iceland Banking in Iceland faced a crisis in 2008, which resulted in the government taking over three of its largest commercial banks.
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Banca Romana scandal The Banca Romana scandal surfaced in January 1893 in Italy over the bankruptcy of the Banca Romana, one of the six national banks authorised at the time to issue currency. The scandal was the first of many Italian corruption scandals, and, like the others, it discredited the whole political system. The crisis prompted a new banking law, tarnished the prestige of the Prime Ministers Francesco Crispi and Giovanni Giolitti and prompted the collapse of the latter's government in November 1893.
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La Década Perdida "La Década Perdida" ("The Lost Decade") is a designation to the financial period of crisis in Latin America during the 1980s (and for some well into the subsequent decade). Sometimes the term is used in exclusive reference to Mexico.
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European Investment Bank The European Investment Bank (EIB) is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome. As a "policy-driven bank" whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about European integration and social cohesion. It should not be confused with the European Central Bank.
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European Stability Mechanism The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone Member States having ratified a special ESM intergovernmental treaty. It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of €500 billion.
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Euro convergence criteria The euro convergence criteria (also known as the Maastricht criteria) are the criteria which European Union member states are required to meet to enter the third stage of the Economic and Monetary Union (EMU) and adopt the euro as their currency. The four main criteria, which actually comprise five criteria as the "fiscal criterion" consist of both a "debt criterion" and a "deficit criterion", are based on (ex article 121.1) of the Treaty on the Functioning of the European Union.
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Berlin Process The Berlin Process is a diplomatic initiative linked to the future enlargement of the European Union. It started with the 2014 Conference of Western Balkan States, Berlin, followed by the 2015 Vienna Summit and the 2016 Paris Summit. The last conference was held in July 2017 in Trieste. The Berlin Process was initiated in order to consolidate and keep the dynamics in EU integration process in the light of increased euroscepticism and 5-year stoppage of expansion announced by Commission President Jean Claude Juncker.
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Spanish general election, 2011 The 2011 Spanish general election was held on Sunday, 20 November 2011, to elect the 10th Cortes Generales of the Kingdom of Spain. All 350 seats in the Congress of Deputies were up for election, as well as 208 of 266 seats in the Senate. An election had not been due until 8 April 2012 at latest, but a call by Prime Minister José Luis Rodríguez Zapatero for a snap election five months ahead of schedule was announced on 29 July 2011. Zapatero would not be seeking a third term in office, and with political pressure mounting, a deteriorating economic situation and his political project exhausted, an early election was perceived as the only way out.
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Venezuelan banking crisis of 2009–10 The 2009-2010 banking crisis occurred in Venezuela when a number of the banks of Venezuela were taken over by the government, after "the revelation that several banks owned by [Hugo Chavez] supporters were in financial trouble after engaging in questionable business practices. Some were seriously undercapitalized, others were apparently lending top executives large sums of money, and at least one financier couldn't prove where he got the money to buy his banks in the first place." In November and December 2009 seven banks were taken over, accounting for around 12% of total deposits. In 2010 more banks were taken over. The government arrested at least 16 bankers and issued more than 40 corruption-related arrest warrants for others who had fled the country.
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Basque Parliament The Basque Parliament (Basque: "Eusko Legebiltzarra", Spanish: "Parlamento Vasco") is the legislative body of the Basque Autonomous Community of Spain and the elected assembly to which the Basque Government is responsible.
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Greek withdrawal from the eurozone The Greek withdrawal from the eurozone is the potential exit of Greece from the eurozone, primarily for the country to deal with its government-debt crisis. This conjecture is often referred to as "Grexit", a portmanteau combining the English words "Greek" and "exit". The term "Graccident" (accidental Grexit) was coined for the case that Greece exited the EU and the euro without intention. These terms first came into use in 2012 and have been revitalised at each of the bailouts made available to Greece since then.
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1986 enlargement of the European Communities The 1986 enlargement of the European Communities was the third enlargement of what is now the European Union, then the European Communities (EC). Spain and Portugal acceded to the EC on 1 January 1986. It is considered a part of the Mediterranean enlargement.