SPAIN - The Spanish government will raise the retirement age today in a renewed bid to restore investor confidence after a €20bn ($27bn) plan to shore up savings banks failed to tame the nation's borrowing costs.
SPAIN - Spanish Labor Minister Valeriano Gomez is set to meet with union leaders today to negotiate an overhaul of the pension system as the Socialist government seeks to avoid a second general strike.
SPAIN - Spain's pension overhaul will be "as ambitious" as the government's initial proposal, which included an increase in the retirement age, Prime Minister Jose Luis Rodriguez Zapatero has said.
SPAIN - Spain needs an "urgent" overhaul of its pension system and may have to raise taxes to tame the euro-region's third-biggest deficit and avoid a jump in corporate borrowing costs, the Organisation for Economic Cooperation and Development said.
SPAIN - A Spanish pension bill will go to parliament for approval next year, later than expected, and the government is "open" to modifying its proposal that includes raising the retirement age, Labor Minister Valeriano Gomez said.
SPAIN - The Spanish congress eked through a freeze on state pensions for 2011 by only one vote as the country implements a package of emergency measures to tackle its deficit.