Articles by Fernando Barciela

About the Author

Fernando Barciela
Fernando Barciela has been a regular collaborator for Spain's leading daily El Pais' business section since 1994. He is also a regular collaborator on foreign policy. For Grupo Consejeros he interviews the top executives of Spain's listed companies. He was a correspondent with Diario de Noticias, Portugal's leading daily newspaper, in 1987-2004. He has a degree in Business Science and Journalism from the Complutense University.
MIFID2 and financial advisors

Growing doubts over the impact of MIFID2 for investors

After MIFID1, which was launched 10 years ago with the aim of improving investor protection, MIFID2 (Markets in Financial Instruments Directive) is now on its way, bringing even more meticulous and demanding operating objectives and rules.


Spain IPOs are successful

Spain IPOs do work: six out of the last seven have had a positive outcome

In Spain, there has been a kind of urban legend that IPOs don’t work and investors end up losing money. This has possibly been the case in the past, but not now. And perhaps this is because most of the current IPOs are almost exclusively aimed at institutional investors, so operations need to be more fine-tuned.




Spanish salaries

Spanish salaries, totally inadequate for a European economy

According to the National Statistics Institute, the most normal average annual gross salary is around 16.500 euros. So once this has been paid 14 times a year and taxes and Social Security contributions have been deducted, this ends up as a little over 800 euros net per month. This sort of income will never drive consumption or housing sales and is not adequate for a European economy like Spain’s.



Bankinter's expansion

What if they had all been just a little bit more like Bankinter?

Bankinter, the best Spanish bank, amazed us with its spectacular results during the crisis and continues to do so now. It’s proof that things can be done with maximum prudence, security and moderation, without being pulled along by prevailing bubbles. Bankinter was always cautious about adventures. In the years prior to the eruption of the crisis it established the bases to prevent it from being carried away by what was a catastrophe.


CIE Automotive business

“CIE Automotive has always emerged stronger from crises”

Fernando Barciela | “In the 2008 crisis, the only car assembly industry where production expanded was in Spain. It’s only through crises that you find maximum efficiency. They are good for making everyone react and put every effort they can into improving the production chain. In fact, in CIE we are always going through some crisis or other,” explains Jesús María Herrera Barandiarán, CEO of CIE Automotive.


Bank of Spain's supervisory actions

Bank of Spain Gives Itself 10 Out Of 10 For Its Supervisory Actions During The Banking Crisis

The Bank of Spain’s report on the financial and banking crisis in Spain has left the sensation that the institution, by action or by omission, has failed in its supervisory responsabilities and allowed practically all Spanish lenders to operate without any kind of control. The worst thing is that situation has continued. The bank has been the but of heavy criticism for how it acted with respect to Banco Popular’s resolution.