Spain's Economy Minister Elena Salgado told national radio station SER that her country will not follow the example of Portugal and seek a bailout from the European Union. Portugal joined Greece and Ireland in seeking assistance from European authorities in order to reduce their nation's debt.
Meanwhile, Greece revised its 2010 budget deficit to above 10 percent of gross domestic product.
Oh those silly Europeans. Thank goodness we Americans act like adults when dealing with our budget issues.
USA Today - President Barack Obama: "At a time when the economy is still coming out of an extraordinarily deep recession, it would be inexcusable -- given the relatively narrow differences when it comes to numbers between the two parties -- that we can't get this done."
ABC News - House Speaker John Boehner, R-Ohio: Listen, there’s no daylight between the tea party and me.”
Fox News - Kevin McCarthy, R-Calif.: "We don't need one Democratic vote," he said.
TPM - House Speaker John Boehner, R-Ohio: I want to reiterate that there's no agreement on the numbers. There's no agreement on the policy riders."
TPM - Senate Majority Leader Harry Reid (D-NV): "I have confidence that we can get this done," he said. "We're not there yet. But hope lies eternal."
Irish state broadcaster Raidió Teilifís Éireann (RTÉ) is offering to give Ireland's largest newspapers free video news clips at no cost to the publishers, the Irish Times reports today. The move is designed to "defuse a row over the broadcaster’s commercial digital media activities."
According to the report, RTÉ will give video news clips, though those clips can not be edited or repackaged. The Irish Times report, though, does not mention if the newspapers could monetize the clips with pre-rolls or other advertising, or whether this offer would, in effect, create a giant new network for RTÉ.
Consumer magazines recorded modest growth in the first quarter of 2011, according to numbers released yesterday by the Publishers Information Bureau (PIB).
Ad pages grew 2.5 percent in Q1 compared to 2010 January through March performance. PIB reported that ad revenue grew 6.1 percent based on rate card rates (though we all know that is an unreliable measurement, so why even report it?).
“Magazines continue to gain momentum into 2011, posting an increase in both pages and PIB ad revenue for the fourth consecutive quarter,” Andrew Jung, MPA’s Chief Marketing Officer said. “Growth in the Technology sector indicates that those marketers consider print advertising a vital element in branding campaigns for digital products and services, especially as that sector becomes increasingly competitive.”
Automotive advertising led the way again, increasing over 26 percent in the first quarter, while food remained a weak category for consumer magazines, down almost 9 percent.