Italy began random document checks at airports and seaports for passengers arriving from Spain after temporarily suspending the Schengen Agreement. The move, prompted by the Ceuta migration crisis, affects both EU and non-EU travelers. Police check identity documents or passports, with additional screening only in case of anomalies. Travelers from Spain to Italy should carry valid identification.
Nearly 49,000 people entered the Spanish enclave of Ceuta on July 30-31, overwhelming security forces and the migrant center. The Guardia Civil has recovered 67 bodies along the coast, with 99 migrants having died this year attempting the crossing. EU interior ministers will meet by videoconference on Tuesday after Spanish Prime Minister Pedro Sánchez and representatives of 22 other member states requested urgent coordination. King Felipe VI expressed 'great concern and indignation,' calling for security guarantees and measures to prevent such episodes.
Short-term Spanish Treasury bill yields have climbed, with the nine-month bill reaching 2.63% in July, the highest since November 2024. The ECB's 25-basis-point rate hike in June and expectations of further increases after summer are driving demand for Letras del Tesoro. Spanish savers held €20,331 million in Treasury bills in May, a sign of revived appetite. Savers with money in Spanish Treasury bills can benefit from the improved returns.
Social Security official Alfonso Muñoz says workers planning early retirement can significantly reduce penalties by waiting just four extra months. The penalty coefficient can drop by nearly half, translating into about €200 more per month for someone with a €2,000 base pension. Early retirement penalties range from 21% for retiring 24 months early with low contributions to just 2.81% for retiring one month early with high contributions. The advice could mean thousands more in lifetime pension income.
Investment fund Urbanitae plans to buy a residential building in Madrid's Lavapiés neighborhood and convert its 19 apartments to tourist accommodations through the city's Plan Reside. Critics say the plan fuels speculation and displaces long-term residents, with Más Madrid calling on Mayor Almeida to repeal the policy. Only one tenant with a legacy rental agreement remains in the building. The conversion highlights concerns over shrinking rental supply in central Madrid.
Spain has 1,668,800 underemployed workers who want more hours but can't get them, according to economist Marc Vidal. He argues that precariousness has shifted from temporary contracts to reduced hours for permanent employees, with nearly 78% of GDP growth stemming from more hours worked rather than from higher productivity. The trend points to falling productivity per worker even as hourly productivity rises. Workers in Spain should note that underemployment can affect earnings stability.
The European Union's AI Act, the world's first comprehensive artificial intelligence law, took effect on Sunday. It bans practices like subliminal manipulation and social scoring, and imposes phased rules until 2028. Violations can bring fines of up to €35 million for the most serious offenses, including biometric categorization based on race or religion. The regulation also tackles sexual deepfakes and child pornography. People in Spain will gain stronger protections against harmful AI uses in employment and daily life.
Scientists and engineers are calling on Spain's political parties to reach a state agreement against wildfires, arguing that current funding tilts too heavily toward firefighting over forest management. They say the pact is not a left-right issue and is essential for the country's future. The government and opposition remain at odds over the agreement's name. The push comes as wildfire risk remains high in many rural areas.
Central and regional authorities are prohibiting rave parties, camping, and mountain hikes in fire-risk areas around the eclipse, as large crowds are expected in rural and forest zones. The period is normally high-risk for wildfires, and officials worry about rule-breaking related to 'postureo' — showing off for social media. Anyone planning outdoor activities should check local restrictions.
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