The European Union is preparing to impose sanctions on Spain and Portugal


Today, Ecofin - the Economic and Financial Affairs Council – will consider the possibility of imposing sanctions on Spain and Portugal. Earlier, on 7th July, the European Commission made a similar recommendation. On July 11th, Ministers of Economy and Finance of the euro zone approved the initiative. The reason - the two countries have failed to bring the budget deficit to above the prescribed level.

Obama dreams of allies like Spain


Barack Obama made his first official visit to Spain. He came to Madrid after attending a NATO summit in Poland. Obama met with acting Spanish Prime Minister Mariano Rajoy, King Philip, and the leaders of the opposition parties.