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Crossover: Regional governments ask Madrid for help

07-27-2012 02:02 BJT

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The financial situation in Spain is also under pressure. The country’s telecom stronghold, Telefonica, has announced it will scrap payout of dividends for the first time in some eighty years.

The announcement late Wednesday night surprised shareholders. And experts see this as a further sign of Spain’s quickly deteriorating situation. For more on this, we are joined live by our correspondent Roee Ruttenberg in Barcelona.

Q1: Why would Telefonica make such an announcement? How will it impact the economy in Spain?

Q2: You are in Barcelona, the regional capital of Catalonia. This week it become the third region to announce it would tap into a government rescue fund. What more can you tell us about that?

 

 

Editor:Zhang Dan |Source: CCTV.com

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