Shocking Scenes in Madrid.
Mar 25th 2014 | 10:50 pm
#106
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Re: Shocking Scenes in Madrid.
Usually if a company pays say €24k gross they'll classify maybe half of that as "base salary" - the bit that counts towards social security. The rest will be labelled "bonuses" or "summer contributions" or whatever, so the pension will be based on maybe €12k.
Having said that it is still a good deal, for those who got in early (as with any Ponzi scheme). Personally I know of few Spaniards still working past the age of 55, even those who did fairly average jobs have been able to retire early. Unfortunately it is unsustainable - it relies on current tax receipts to pay for existing pension outgoings.
Having said that it is still a good deal, for those who got in early (as with any Ponzi scheme). Personally I know of few Spaniards still working past the age of 55, even those who did fairly average jobs have been able to retire early. Unfortunately it is unsustainable - it relies on current tax receipts to pay for existing pension outgoings.
Yes small companies cheat the system, but the bigger companies and banks, and government jobs etc will all pay the right level of "cotizacion"
Mar 25th 2014 | 11:59 pm
#107
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From: Finally now living in Lo Marabu, Rojales, and it feels like home
Re: Shocking Scenes in Madrid.
Back on to topic, Looking on Cuatro there is a lot of Riot Police out on the streets out side the Computense University in Madrid right now. More protests or arrests by the look of it.
Last edited by andyrich666; Mar 26th 2014 at 12:02 am.
Mar 26th 2014 | 12:23 am
#108
Thread Starter
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Joined: Aug 2008
Posts: 17,507
From: On Top of the World
Re: Shocking Scenes in Madrid.
Have to give credit to the Spanish people for their restraint up to now, probably largely down to bad memories and thoughts of not so long ago.
However everyone has their breaking point and cracks are beginning to show.
Spain needs a really dramatic improvement in it's economic fortunes very, very soon otherwise much, much worse could well follow IMHO.
I see the cost of that non existent little fracas the other night is estimated at 665,000 euros up to press.
Mar 26th 2014 | 10:51 am
#109
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From: On Top of the World
Re: Shocking Scenes in Madrid.
Now it's the students turn I see.
http://elpais.com/elpais/2014/03/26/...12_287554.html
Fifty arrested after extreme protest reaction to cuts.
http://elpais.com/elpais/2014/03/26/...12_287554.html
Fifty arrested after extreme protest reaction to cuts.
Mar 26th 2014 | 1:03 pm
#110
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Posts: 3,081
Re: Shocking Scenes in Madrid.
Shouldn't that read "The average state pension for someone retiring in 2013 in Spain AND who has paid fully into the system, was 1400 euros per month" ?
Otherwise it's a bit misleading? Ok, so it infuriates the "Spain bad, UK good" usual suspects, but it's not going to be the case for everyone who reaches retirement age? I know someone here in Madrid who works on the black, and they've been buying up property to rent out, primarily because they've realised they won't get much of a pension.
Otherwise it's a bit misleading? Ok, so it infuriates the "Spain bad, UK good" usual suspects, but it's not going to be the case for everyone who reaches retirement age? I know someone here in Madrid who works on the black, and they've been buying up property to rent out, primarily because they've realised they won't get much of a pension.
And buying up property to rent out, as you put it, sounds like more than one property to me.
And why would your comment 'infuriate' anyone?
Last edited by me me; Mar 26th 2014 at 1:05 pm.
Mar 26th 2014 | 10:02 pm
#111
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From: East Sussex
Re: Shocking Scenes in Madrid.
I know people who are. But I'm certainly not going to name names
Mar 26th 2014 | 10:33 pm
#112
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Posts: 8,824
From: Living in a good place
Re: Shocking Scenes in Madrid.
Notaries now require a paper trail for property transactions. Stevie has been listening to bar room talk.
Mar 26th 2014 | 10:47 pm
#113
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From: East Sussex
Re: Shocking Scenes in Madrid.
There is also a lively Airbnb money-earning community in central Madrid. I have no idea how they do it (technically illegal to rent out without a licence?) - maybe they use foreign accounts to register on the website?
https://www.airbnb.com/s/Madrid--Spa...2014&source=bb
Mar 27th 2014 | 12:44 am
#114
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Posts: 3,081
Re: Shocking Scenes in Madrid.
Nope, wrong again. I know the person and I know (some of) the properties, not far from where I live.
There is also a lively Airbnb money-earning community in central Madrid. I have no idea how they do it (technically illegal to rent out without a licence?) - maybe they use foreign accounts to register on the website?
https://www.airbnb.com/s/Madrid--Spa...2014&source=bb
There is also a lively Airbnb money-earning community in central Madrid. I have no idea how they do it (technically illegal to rent out without a licence?) - maybe they use foreign accounts to register on the website?
https://www.airbnb.com/s/Madrid--Spa...2014&source=bb
The funny thing is usually the people that are doing dodgy dealings, like to play their cards close to their chest.
They will probably tell the interested parties what they need to know, in case they die or become incapacitated.
These people will be the ones who benefit from the 'deals.
I imagine that only the idiots would let it become common knowledge, thus avoiding 'outside' parties blabbing and posting on the internet.
Mar 27th 2014 | 12:47 am
#115
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From: East Sussex
Re: Shocking Scenes in Madrid.
You could be right, I won't argue.
The funny thing is usually the people that are doing dodgy dealings, like to play their cards close to their chest.
They will probably tell the interested parties what they need to know, in case they die or become incapacitated.
These people will be the ones who benefit from the 'deals.
I imagine that only the idiots would let it become common knowledge, thus avoiding 'outside' parties blabbing and posting on the internet.
The funny thing is usually the people that are doing dodgy dealings, like to play their cards close to their chest.
They will probably tell the interested parties what they need to know, in case they die or become incapacitated.
These people will be the ones who benefit from the 'deals.
I imagine that only the idiots would let it become common knowledge, thus avoiding 'outside' parties blabbing and posting on the internet.
having said that, you do wonder if the tax people prefer to let things slip for a while, and then issue the fines at a later date...
Mar 27th 2014 | 12:51 am
#116
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Re: Shocking Scenes in Madrid.
I was under the impression that property transactions were still the number 1 way for laundering money in Spain. The main cuplrits used to be the constructors and promotors on new builds apparently. Cash would be paid and the contract would be rewritten for a reduced price before anyone got near a notary.
Mar 27th 2014 | 1:15 am
#117
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Posts: 8,824
From: Living in a good place
Re: Shocking Scenes in Madrid.
I was under the impression that property transactions were still the number 1 way for laundering money in Spain. The main cuplrits used to be the constructors and promotors on new builds apparently. Cash would be paid and the contract would be rewritten for a reduced price before anyone got near a notary.
The only way I can think of doing it now is to take out a mortgage and then pay it off with cash.
Mar 27th 2014 | 2:00 am
#118
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Posts: 613
Re: Shocking Scenes in Madrid.
That's not really money laundering, just evasion. I thought we were refering to individuals buying a property, not large companies. Sure there is still corruption but for a one man band working on the black it would not be worth his while if he had to bribe the notary etc. The last couple of property transactions we have done the Notary has been meticulous with all the paperwork. the days of handing over a suitcase of cash have gone.
The only way I can think of doing it now is to take out a mortgage and then pay it off with cash.
The only way I can think of doing it now is to take out a mortgage and then pay it off with cash.
Mar 27th 2014 | 6:40 pm
#119
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Posts: 19,367
From: Mallorca
Re: Shocking Scenes in Madrid.
I know of at least one buyer who paid for their holiday home here from an offshore account.
The issue isn't whether the money comes from another country. The issuing bank has to provide evidence of the source of the funds (if requested). Especially for amounts over $1m.
The issue isn't whether the money comes from another country. The issuing bank has to provide evidence of the source of the funds (if requested). Especially for amounts over $1m.
Mar 27th 2014 | 9:06 pm
#120
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From: East Sussex
Re: Shocking Scenes in Madrid.
I've got a group of people coming to the shop next week from the Costas (Valencia, Malaga etc) for a meetup before they go and watch the Eddie Izzard show.
I'm completely the other side of Madrid centre to the Plaza de Colon/Calle Genova where the demonstrators like to do their stuff.
Every day you can see local pensioners, families, children walking around my area (there are actually 2 schools nearby). Probably as safe as anywhere in Europe.
So should I panic, like the doomsters here are trying to provoke? Tell my visitors to wear flak jackets???
I'm completely the other side of Madrid centre to the Plaza de Colon/Calle Genova where the demonstrators like to do their stuff.
Every day you can see local pensioners, families, children walking around my area (there are actually 2 schools nearby). Probably as safe as anywhere in Europe.
So should I panic, like the doomsters here are trying to provoke? Tell my visitors to wear flak jackets???
