Markets

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Public cost of the Spanish financial crisis amounts to 5.9% of GDP

MADRID | By Carlos Díaz Güell | According to the Bank of Spain, the public aid for the recapitalisation of the Spanish financial system between 2009 and 2013 amounts to €61.366 billion (£51.739bn), 5.9% of the GDP. This is below the average cost of other banking crisis since 1970. In the late 1970s and early 1980s the public cost of the financial crisis was of 3.9% of the GDP.


Dow Industrials: New Kids on the Stock

NEW YORK |  By The Corner Team |  Alcoa, Hewlett-Packard and Bank of America have been shown the door from Dow Industrials. Goldman Sachs, Nike and Visa are replacing them. It’s the first “three-for-three” change to the blue-chip index in almost a decade.

 

 


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Investors, welcome back to a sexier Spain

MADRID | By Tania Suárez | The Spanish scenario seems like a more attractive bet for foreign investors now. Even private consumption and the unemployment rate – Spain’s major economic weaknesses-, are showing an improvement, Mirabaud analysts believe.



Central banks’ tightening: Learning to live without $33 trillion

WASHINGTON | By Pablo Pardo | The party is about to end. It is a party that has lasted six years. According to Bank of America/Merrill Lynch, during that time, the approximately 173 central banks that exist worldwide have lowered interest rates 520 times and pumped in approximately $33 trillion into the world through different mechanisms, some of them extremely unconventional.



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Spanish banks poised to face stiff requirements

MADRID | By J.P. Marín Arrese | The summer break has delivered a much needed respite to Spanish banks, yet the forthcoming autumn will bring them a number of hurdles and potential pitfalls. For the author, the most worrying fact is the lack of ambition in performing a much needed restructuring.


The City reads Eurozone recovery signs in prudent mood

LONDON | By Victor Jimenez | In a cautious tone common to other voices heard today in the City, analysts reminded investors that most governments in Europe continue amassing public spending bills worryingly higher than their income.