Dimitris Smyrnakis via Macropolis | Following January’s five-year bond issuance, which raised 2.5 billion, along with Moody’s upgrading the country’s sovereign credit rating to B3 from B1 and Fitch’s confirming its own rating at BB-, last Tuesday Greece issued its first 10-year bond since the country entered the debt crisis nine years ago.
via European Views | Big tech and Internet freedom activists have remained staunchly opposed to the new EU Copyright Directive.
The market has scarcely contemplated the possibility of a major fiscal stimulus in the Eurozone. However, the strategists at Morgan Stanley believe that, after two years marked by a restrictive fiscal policy, we could see the largest fiscal stimulus of the last decade, not through a common plan, but rather through national level initiatives, especially in Germany, France, Italy and Spain.
Acciona has won two contracts for maintenance of Canadian roads, which means taking responsibility for 4,200 km of carriageways in the province of British Columbia for 10 years for 235 million euros.
Alicia Garcia Herrero (Natixis/Bruegel) | Only a few days before Li Keqiang’s official visit to Brussels for the EU-China summit on April 2019, Xi Jinping has conducted his second trip to Southern Europe in only five months. Such a keen interest in Southern Europe is hard to understand, especially if one considers that Chinese high level officials are busy negotiating with the US to reach a deal to halt the trade war.
Emilio José González González via The Conversation | How many immigrants does Spain need to be able to pay the pensions? To put a figure is easy. The IMF, in an analysis entitled Challenges Beyond Financial Sustainability, concludes that 5.5 million immigrants will be needed between now and 2050, equivalent to 21% of the current population.
Standard and Poor’s maintained Spain´s rating without changes, at A- with positive perspective. Among the reasons: the uncertainties over the next elections and the tensions in Catalonia.
Morgan Stanley | There is no doubt that Inditex (ITX) is a high quality and well-managed business with an impressive historical record.
Alphavalue | The perspective for Siemens Gamesa presumably seems brilliant offshore, given that the industry is now focused on the high sea. Aerogenerator makers declined significantly in 2017 due to the system of auctions in almost all markets, which put pressure on prices in the whole supply chain.
According to the Ministry of Economy, the increases in FDI result from Spain´s continued above Eurozone average economic growth. At the same time, the figures for Catalonia continued to decline (-12% in the same period).