Claudio Borio, chief economist at the Bank of International Payments (BIS) in Basel, believes that the question that differentiates what has been happening in continental Europe from what has been happening to some extent in the US, the UK and other economies, including Spain, is the extent to which the banking problems and the asset quality problems have been adressed head-on.
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Juan de Antonio, CEO of Cabify, firmly believes that disruption is the main driver for progress in business. “Wealth is generated outside our continent and Cabify is an example of a Spanish company which would have died if we hadn’t left here.”
Fixed income’s scant returns has led Norway’s sovereign fund to focus on equity investment. This now accounts for 65 percent of exposure. At the same time, the Norwegian government estimates that investment in the stock market will reach 70 percent to boost profits in the coming years. Hilde C. Bjørnland, professor of Economics at the Norwegian Business School and Director of the Centre for applied economy and oil explains why.
The real problem with Italy’s banking system is not the new EU legislation but its poor supervision, which means the system does not function. Imposing European regulation on this system means that instead of penalising the investors who took risks or the hedge funds, you destroy the small investors.
After participating in the founding of Astra and SES (which today operates 52 geostationary satellites, capable of reaching 99% of the world population), Candance Johnson leads the European association of ‘business angels’. She is determined to build an online network of investors and provide the European Union with a “nation of investors”…
The European banking system is much larger than the US’, namely three times –$33.2 trillion against $13.4 trillion. Hung Tran, Executive Managing Director at the Institute of International Finance, explained to The Corner how this could result in the Eurozone becoming one of the world’s lenders.
Luis Martín Cabiedes started investing in technology ‘startups’ in 1998,first as a ‘business angel’ and then via his own venture capital firm (Cabiedes & Partners SCR). He has invested in over 80 companies, including Ole, Myalert, Privalia and Trovit. He points that there are venture capital funds in Spain with 90% of public money.”
Summer’s here and so are seasonal contracts. The latest employment survey showed the jobless rate in Spain went down to 20% in Q2, its lowest level since the summer of 2010. And yet employment is still a heavy burden for Spaniards, Greece being the only EU country with a higher rate.
Roberto Tamborini, author, Professor of Economy at Trento University says The Corner at this interview that “we can only start on the road towards a satisfactory recovery with fiscal and monetary coordination in the eurozone, and this fiscal stimulus can only be coordinated via Brussels. This directly calls into question the eurozone’s economic governance, one of the pillars of which is the Maastrich principle of exclusive national responsability.”
Ana Fuentes | “Spaniards tend to be schizophrenic because they all want the best services, like they have in the Nordic countries, free education…and you can only have this by paying much higher taxes than we do in Spain where there is a huge amount of fraud and tax evasion,” says William Chislett, associate researcher at the Elcano Royal Institute and former correspondent for The Times and the Financial Times.