Articles by Ana Fuentes

About the Author

Ana Fuentes
Ana Fuentes is The Corner Editor-in-Chief. Currently based in Madrid, she has been a correspondent in New York, Beijing and Paris for several international media outlets such as Prisa Radio, Radio Netherlands or CNN en español. Ana holds a degree in Journalism from the Complutense University in Madrid and the Sorbonne University in Paris, and a Masters in Journalism from Spanish newspaper El País. You can contact her at: anaf[at]thecorner.eu
Christine Lagarde and Yanis Varoufakis

IMF squeezes Greece while pocketing the profits: €2.5 billion since 2010

MADRID | April 10, 2015 | By Ana Fuentes | Investors breathed a sigh of relief on Thursday when Greece met its IMF loan commitment of €460 million euro ($485 million). Markets are predicting that Athens and its creditors will reach an agreement, which would put an end to the standoff which has developed since the Syriza government was elected earlier this year. Still, creditors are using the leverage provided by the country’s current cash shortage to force Athens to make major reforms. Meanwhile they are pocketing huge interest from the outstanding loans.



IOSCO Secretary General David Wright

Markets supervisor: With its capital markets union Brussels is behind the curve

MADRID | March 26, 2015 | By Ana FuentesDavid Wright is charged with overseeing international securities regulators in his role as Secretary General for IOSCO. In an exclusive interview with The Corner, he speaks of the need for greater urgency in integrating global capital markets. He also notes that a failure to understand the changes taking place in global financial markets could be hindering economic growth.


capital requirements

Spanish banks may thrive in ECB capital requirements harmonisation

The Corner | February 25, 2015 | European banks will have to raise more and better quality capital to meet the single supervisor’s requirements, ECB’s Danièle Nouy warned on Tuesday, since the absence of a common regulation is one of the  industry’s main challenges. “That would be positive for Spanish banks since regulation in our country is one of the strictest in Europe,” experts at ACF commented.


No Picture

Greek crisis: The ECB to take the reins

MADRID | By Ana Fuentes | The ECB will be the main actor in the Greek crisis today. The Governing Council of the Frankfurt-based institution is meeting not to discuss monetary policy but to decide whether it maintains the emergency liquidity assistance (ELA) to Greek banks, which is crucial so the country can stay in the euro club –something that, in spite of propaganda and short sellers, both Athens and Berlin desire.


inflationword

“Austerity, not lack of liquidity, is what is causing the Eurozone depression”

MADRID | By Ana Fuentes | She believes that central banks should act coordinately, since competition between them can cause currency distortions. British economist and former banker Frances Coppola has been one of the main critics of the European Central Bank’s QE “because it supports asset prices, but that is all it does.” She spoke to The Corner about shadow banking and how financials should be accepting and managing risk on both sides of the Atlantic.


Draghi's measures are already bolstering markets

QE European style: €60bn monthly bond-buying until Sept 2016

MADRID | By Ana Fuentes | Amid huge market expectation, ECB’s president Mario Draghi unveiled THE operation aiming to spur growth in the eurozone: the European QE will consist of €1.1tn sovereign bonds purchases, or €60bn a month until September 2016, beginning in March. A crucial move in exchange for low risk sharing (only 20% of bonds purchased by ECB, 80% by national central banks; and Greek bonds are expected to remain out). The euro touched an intraday low of  1.1451 dollars.


QE wordcloud

“NCB risk bearing should be traded-off against a big QE”

MADRID | By Ana Fuentes | Hours before ECB’s president Mario Draghi unveils its big easing program, we spoke to think tank Bruegel central banks’ expert Silvia Merler about an eventual national risk bearing. It could be a way to make QE more acceptable by Germany, she believes, although “it should be traded-off against a significant size” (meaning more than the €50bn purchases per month some market watchers are talking about).


eurozone inflation

ECB’s time for truth

MADRID | By Ana Fuentes | It’s been the talk of the town for months, driving up demand for government bonds in the eurozone, pushing yields to record lows and heating the debate among market makers. And yet nobody knows the scope of the European Central Bank’s next move. The much-awaited quantitative easing (QE) program is expected to be officially announced after 14.30CET today and include controversial sovereign bond purchases of €50-70billion euros per month until the end of 2016. Is the ECB late? Will the ECB manage to spur growth in the eurozone with that amount? 


fed

The Federal Reserve was all set for mid-2015. Is that still true?

SAO PAULO | By Marcus Nunes via Historinhas On December 2 2014, Stanley Fisher gave an interview (video) to Jon Hilsenrath of the WSJ. It was notable because Fischer had mostly been quiet, except for a couple of Lectures (not speeches) – herehere – given in international forums.  Six or seven weeks later, is that interview still pertinent? At that point oil prices stood at close to USD 70 and now they stand below 50. Mostly as a reflection of low global AD (here).The global scenario is changing quickly, and not for the better. So maybe Fischer is not so sure anymore. [Image:WSJ]