Friday, September 30, 2011

Finland enlarges the rescue funds

Yesterday, the parliament of Finland (Eduskunta) approved the extension of the European Financial Stability Facility (EFSF). 103 parliamentarians, the whole coalition government ruled by prime minister Jyrki Katainen, have voted for this extension against 66 votes of the “True Finns” and “Center Party”, the biggest parties in the opposition.

Including this voting, the number of countries taking part in the enlargement of the EFSF is 11. This expansion, that could manage 2 billion €, has been approved by Spain, Belgium, France, Greece, Ireland, Italy, Luxembourg, Portugal, Slovenia and Germany.

Its creation is related to the fragile economic situation of Greece. The decision taken the past June 24th was increasing it with 780.000 million € with guarantees. Anyway, if a loan would be necessary, its credit rating is around 440.000 million €.

It means that the contribution of the Nordic country will rise from 7.900 million to 14.000 million €. So, the EFSF is more flexible to face the Greek situation, that is extending day by day.
Behind this decision, we can find a combination of the confidence of financial markets, the wish of reassuring the European stock markets and the attacks against Spanish and Italian risk premium.



Basque Country´s departments stores are the most expensive of all Spain. Getxo is situated at the first position of this curious ranking, and then are Bilbao and Barakaldo. Vitoria-Gasteiz and Donostia are immediately behind the three cities of Bizkaia.

It is was said a report from OCU, the spanish Consumers and Users Organization. As says this report, behind The Basque Country are Canarias, Navarra, Cantabria and Catalunya.

On the other hand, as the cheaper regions are Murcia, La Rioja and Galicia, in this order, close to Extremadura and Andalucía.

To compare prices can be a good way to get a cheaper basket, decreasing the final quantity up to 37%. As says The Istitutionals´s relationship Director from OCU, Antonino Joya, a family could save more than a thousand € each year with this class of measures.

He says that one of the principal reason for explain this situation in the Basque Country can be the absence of competition at the sector, principally in the case of departments stores as Alcampo or Mercadona, companies both with a politic of low prices.

In the case of taxis, Donostia and Vitoria-Gasteiz are situated just behind of Tarragona as the more expensive cities offering this service.



Because of the economic crisis Spanish people are going to spend 400€ less than last year in food. However the principal supermarkets are increasing the prices. The most expensive supermarkets are in the Basque Country, Canarias, Navarra, Cantabria y Cataluña, and the cheapest ones are located in Murcia, Galicia, La Rioja, Andalucía and Extremadura.

This means that people are not buying clothes, going to restaurants so much and things of that nature. I hope that the crisis will finish soon.


Thursday, September 29, 2011


Auf wiedersehen, see you next Monday



Our salesmen could feel the crisis effects. Anyway we've reached our sales goals.

Zubirilet SLS has finished the fair with positive results, and have settled its relations with new customers for its future.

Wednesday, September 28, 2011


Today the fair is packed, they are trading. Let's see how much they're selling!

Cheers for a lucky day!!!

Tuesday, September 27, 2011


Zubirilet is our virtual firm which sells gift baskets. The workers of the company are the students of 2º course; and right now they're in Dresden selling and buying products in a fair of virtual companies from all Europe

Dresden (Germany)


Ladies and gentlemen, here we are back again!!!

We are the new student group in Zubiri. We're glad to start this new adventure.

We're eight young students from different villages of Gipuzkoa, and we meet all together in San Sebastian. We're studying a Finance & Business course. Some of us study in Basque/English and others in Spanish/English.

We're going to do our best!