Greek prime minister Alexis Tsipras gestures before his speech during a parliament session in Athens yesterday. Photograph: Reuters

Greece’s latest round of reform proposals have so far failed to satisfy creditors, with discussions set to continue with its international lenders (...)

Banco Madrid kept the doors of its branches closed on Monday as it emerged the lender had ceased all financial operations and requested a creditors’ meeting. Photograph: Andrea Comas/Reuters

The future of Spanish lender Banco Madrid is in the balance after it filed for bankruptcy following a deposit run sparked by a money-laundering inv(...)

Talks have begun on a third bailout for Greece worth €30 billion-€50 billion, the Spanish economy minister has announced.“We are negotiating a third r(...)

International Monetary Fund  managing director Christine Lagarde with Greek finance minister Yanis Varoufakis at an extraordinary euro zone finance ministers’ meeting in Brussels last night. Photograph: Francois Lenoir/Reuters

Germany has urged Greece to follow Ireland’s example in how it retooled its bailout programme after the last general election rather than trying to r(...)

Speaking as the Eurogroup of finance ministers met in Brussels, Dutch finance minister Jeroen Dijsselbloem said: “We all have to realise and the Greek people have to realise that the major problems in the Greek economy have not disappeared and haven’t even changed overnight because of the simple fact that an election took place”. Photograph: Olivier Hoslet/EPA.

The European Union showed a willingness on Monday to give Athens more time to pay its debts, but said it would not yield to a new Greek government’s d(...)

A government-run employment office in Madrid. Over the last 12 months, 434,000 jobs were generated, bringing the overall unemployment rate in Spain down to 23.7 per cent. Photograph: Andrea Comas/Reuters

Spain created more than 400,000 jobs in 2014, in a clear sign that the country is finally starting to emerge from its labour market crisis.Over the la(...)

Gowex CEO and founder Jenaro Garcia resigned after admitting he presented fictitious accounts

The Spanish government is planning to reorganise the framework governing the country’s stock market in response to the recent scandal surrounding tech(...)

The Gowex bubble started to burst on June 1st, when US-based investment company Gotham City Research issued a report for its clients in which it warned the Spanish firm’s results were “too good to be true”. Photograph: EPA/Diego Garcia

In March, Jenaro García, then-chief executive of technology firm Gowex, received a business prize from the Spanish prime minister. “A society needs en(...)

A large banner advertises apartments for sale at the site of newly constructed residential buildings in Madrid. Property prices across Spain dropped by just under 8 per cent last year. Photograph: Angel Navarrete/Bloomberg

Spain’s property sector is still struggling to recover from a half-decade downturn, according to figures showing that home sales dropped by 16 per cen(...)

Real Madrid players train on the eve of their Champions League semi-final second leg soccer match against Borussia Dortmund, at the club’s training grounds outside Madrid last  April. Photograph: Susana Vera/Reuters

A three-pronged investigation will take place into alleged state aid for several La Liga clubs, including Real Madrid and Barcelona, the European Comm(...)