Articles by Fernando Gonzalez Urbaneja

About the Author

Fernando Gonzalez Urbaneja
Over 30 years working in economic journalism. Fernando was founder and chief-editor at El País, general editor at the business daily Cinco Días, and now teaches at Universidad Carlos III. He's been president of the Madrid Press Association and the Spanish Federation of Press Associations. He's also member of the Spanish press complaints commission.
electricidad776TC

The Excessive Profits Of The Electricity Companies, Where Are They?

Fernando González Urbaneja | Several ministers in conversations with journalists have complained about the excessive, extraordinary, abusive… profits of the electricity companies. These adjectives have been heard in Parliament from the mouths of more than a few dubiously documented parliamentarians. It would be desirable for such descriptions to be followed by explanations and figures, because where there are no accounts, stories dominate. To begin with, it would be useful to…


Santander consumer bank

Santander: Good Results, Badly Received

Fernando González Urbaneja | Santander presented its first quarter results this week. Good in general terms. More business, better margins, growth and the best results without extraordinary items or gimmicks. However, the stock market’s immediate reaction was quite bad, with no explanation beyond a feeling of future problems. And so much because of the bank’s management as because of the general business environment. The feeling, even perception, of a recovery…


France's risk premium

Thirteen Million French People Are Not The “Far Right”.

Fernando González Urbaneja | Until the French electoral cycle concludes with the June legislative elections, which will define the composition of the new government, it is premature to conclude on the ideological-social-moral map of the French. The right-left axis is of little use when the winning candidate, Enmanuel Macron, flees from this taxonomy, and the losing candidate accumulates 13 million votes (425) that are incompatible with the category of “extreme”….


Euribor2

The Euribor Enters Into Positive Territory

Fernando González Urbaneja | Last week the Euribor started to trade in positive, five thousandths of a point insignificant, but positive. Since February 2016 the Euribor had been negative, down to a minimum of half a point. Several million Spanish mortgages will be more expensive today than yesterday, although less than tomorrow. The European Central Bank opted weeks ago for a progressive and cautious strategy towards the neutrality of its…


covid19 dilemma

The Mask Scandal Deserves A “Forensic”

Fernando González Urbaneja | Amongst the characteristics of advanced democracies, in addition to clean and regular voting, the separation of powers, the existence of a militant public opinion, i.e. with independent and critical media… there is also a system of accountability, of explaining the actions of the government to the citizens. For example, on the succession of scandals linked to the urgent and disorderly purchases of health equipment to deal…


budget2021 amendments

Finance Ministry Optimistic… With The Highest Public Deficit In Europe (6.9%)

Fernando González Urbaneja | The Finance Minister, always cheerful and confident, has presented the budget execution for 2021 with her usual optimism. The deficit stands at 6.9%, three points less than the previous year, a point and a half less than the government’s forecast. The minister gives herself a good mark, a top A, and the media receive the data with not a little optimism, 28% less than the previous…


agri food

And Is It Possible To Decouple The CPI (9.8%)?

Fernando González Urbaneja | The CPI for March (+3%), which raises the year-on-year rate to 9.8%, is an outstanding fact, a major one, enough to stop the machines and turn to Saint Ignatius and his existential questions: where are we and where are we going? The cold data, released by the INE, coincides with the presentation in Congress of the urgent shock measures adapted by the government to deal with…


Strike

Subsidising, An Emergency Option With Risks

Fernando González Urbaneja | The crisis that most resembles the current one, although history does not repeat itself, was that of 1973 when Arab oil exporters decided to use a barrel of oil as a weapon of war against the West and, in particular, Israel. The rise in the price of oil, irreplaceable and indispensable for all advanced economies, imposed an unprecedented cost and supply crisis. Supply shocks bring inflation,…


Government

The Government Has Too Many Bills Coming Due

Fernando González Urbaneja | It is like a creditors’ meeting, which never comes at a good time. The government has too many bills coming due for which it is short of liquidity, i.e. votes and parliamentary and social support. The weekly control session in Congress demonstrated the loneliness and, above all, the feeling of incomprehension, mental fatigue and surprise of a Prime Minister who is not short of self-esteem. Nothing…


Tinduf

Spain And The Sahara: A “Serious, Credible And Realistic” Solution: What Does It Mean?

Fernando González Urbaneja | With these three words (values?) Morocco is convincing the countries that count that its plan to integrate the Sahara into its territory is worthwhile. That it is the best option for resolving a problem entrenched in the United Nations for half a century. One of the last stages of the decolonisations which have taken place in the 20th century with bloody and dramatic conflicts. Decolonisation processes…