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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Two economic policies likely to change with Democrats in control of House

World politics 7th November 2018

Two Economic Policies Likely To Change With Democrats In Control Of House

Steven Pressman via The Conversation | Perhaps the biggest surprise in the midterm elections was that, unlike 2016, there wasn’t one. Polls and pundits expected Democrats would take control of the House and Republicans would keep the Senate, and that’s exactly what we’re getting. The likely result: two years of congressional gridlock on economic policy, which requires both houses of Congress to agree on the same legislation. So, we can expect that the status quo on economic policy will mostly prevail.

Preparing for a new normal in German politics

In Europe 6th November 2018

Preparing For A New Normal In German Politics

Jens Bastian | With Merkel’s gradual retreat from German politics, a new sense of political timing is set in motion across capital cities in Europe. How will Athens react to the gradual changing of the guards in Berlin? While much air time and social media is being consumed with domestic political quarrels in Greece, both government representatives and opposition parties will be well-advised to look closely at the next developments in Germany.

PKO Bank Polsky, DNB Bank and Santander are the strongest European banks to face an adverse scenario

In Europe 5th November 2018

PKO Bank Polsky, DNB Bank And Santander The Strongest European Banks To Face An Adverse Scenario

The EBA published the results of the latest stress tests on 47 European banks, plus one in Norway. These covered 70% of banking assets in the EU and revealed that in adverse scenario they would produce a negative impact of -395 base points in the capital ratio CET1 fully loaded (-410 base points of the transitory definition) to place itself in 10% at the end of 2020 (10.3% transitory). The four Spanish banks, Santander, BBVA, Caixabank and Sabadell, overcame the tests although they came out a little below the average.

President Trump is right: The Federal Reserve is a big problem

World economy 2nd November 2018

President Trump Is Right: The Federal Reserve Is A Big Problem

The Federal Reserve is more or less protected from the demands of political parties. But what about the influence from ‘special interest groups’ such as the banking industry on Fed policymaking? “There is hardly be any doubt that the Fed caters, first and foremost, to the needs of commercial and investment banks, ” says a report from Degussa.

Forty years of Spanish Constitution, forty years of institutional stability

Spanish economy 2nd November 2018

Forty Years Of Spanish Constitution, Forty Years Of Institutional Stability

William Chislett | By the time General Franco died in 1975 Spain had undergone profound economic and social change, which laid the foundations for an even greater transformation over the next 40 years, but it was a long haul. The new constitution, drawn up by all the main political parties and approved in a referendum on 6 December 1978 by 88% of voters on a turnout of 67%, sealed the transition to democracy.

Russia: forget the dollar, ride the oil

In Europe 2nd November 2018

Russia: Forget The Dollar, Ride The Oil

Xavier Colás (Moscow) | Very affected by US sanctions, Russia has embarked on a de-dollarization plan up to 2024 and discounts paying EU members in euros. But the volatility of the rouble disrupts the road map.

 

The cancellation of Mexico's airport could cost the country more than €4.4 Bn

Ibex, Markets 1st November 2018

The Cancellation Of Mexico’s Airport Could Cost The Country More Than €4.4 Bn

The president elect of Mexico, Andrés Manuel López Obrador, confirmed the cancellation of the construction works for the airport of Mexico. This is the result of the binding referendum and means the end of a project with a budget of €10 bn, of which 20% has been completed. The president’s alternative proposal is to enlarge the the military airport Santa Lucia (terminal for international flights) and modernise the old airport of Benito Juárez in the centre of Mexico City (for domestic traffic).

Forty years of democratic Spain: No resemblance to what it was

Spanish economy 1st November 2018

Forty Years Of Democratic Spain: No Resemblance To What It Was

On next December 6, the Spanish Constitution and therefore Spain’s democracy turns 40 years old after another 40 years of dictatorship. Until that day, The Corner is going to publish a series of articles written by William Chislett, associate analyst at the Elcano Royal Institute about, precisely, how much and and how deep the country has changed in these last 4 decades. Today’s story is just the beginning.