The Panama Papers may have a similar historic reach as the Pentagon Papers, marking the point of no return for reducing the list of countries which protect and promote the lack of fiscal transparency. Tax cooperation between countries with automatic exchange of information (not on request) by all the tax offices does not allow for delays.
Articles by Fernando Gonzalez Urbaneja
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Spain’s political debate is going on between two irreconcilable adversaries, each one with its own issues. Meanwhile, in the back room where the accounts are done, there is hard work going on to refinance the public and private debt which matures every day. Without some tailwinds, Spain (BBB) could once again find itself facing serious problems.
Fernando G. Urbaneja | One of the values of Spain’s democracy over the last forty years has been left behind following the general elections: namely, political stability. Now the Spanish political scenario resembles more that of Belgium than Germany. The results obtained on December 20th have disappointed all parties’ expectations for putting together a parliamentary model, leaving all the hipotheses on how to form a stable government in the dark.
MADRID | July 8, 2015 | Fernando G. Urbaneja | Spanish bank Santander appointed a separate board of directors in Spain, independent from the Group board, which reports to shareholders and regulators. A new federal model that gives the eurozone’s largest lender by market capitalisation a structure in each one of the markets where it operates, in some cases under a local brand.
MADRID | July 5, 2014 | By Fernando González Urbaneja | It’s been one of the costs of the crisis: an internal wage devaluation. Over the last year and half of the economic recovery, with the country’ GDP growing more than one percentage point above the EU average, Spain managed to create almost a million new jobs, almost one-third of what was lost.
MADRID | June 15, 2015 | By Fernando González Urbaneja| Telefonica’s chairman confirmed the firm’s dividend strategy for the next two years at its recent AGM, subject only to the sale of its UK subsidiary O2.
MADRID | June 10, 2015 | By Fernando G. Urbaneja | Spanish unions and employers’ organisations signed a two-year-agreement this week to raise salaries, the first hike in three years. Both parties had been debating for months while the government, distant yet vigilant, recommended a raise combining purchasing power with productivity.
MADRID | June 2, 2015 | By Fernando G. Urbaneja | Executions of unpaid mortgages currently play a preferential role in Spanish politics.
MADRID | May 25, 2015 | By Fernando G. Urbaneja | The conservative Popular Party has its worst election in two decades, losing a big chunk of power in cities and regions on Sunday. Corruption scandals and high unemployment resulting from the economic crisis severely punished traditional parties, which now need to form coalitions with emerging groups Ciudadanos and Podemos.