Fernando Rodríguez | There are over 200 FinTech companies in Spain. Some are going full speed ahead with a variety of banking and investment activities: price comparisons, collective funding, loans and payments, ‘robo advisor’, property…”It’s all about offering more possibilities and more access to a more transparent market,” says Jesús Pérez president of the Spanish Association of FinTech and InsurTech.
“We are in a situation where retired people’s pensions are bigger than the salaries paid to the people working in the jobs they left. Something has broken down. All the education and infrastructures we have created should be directed towards a society with decent salaries,” says Alejandro Legarda Zaragüeta, who knows the ins and outs of Spanish industry after 20 years as managing director of CAF.
Daniel Stemler |”Nord Stream 2 is promoting the idea that EU law does not apply to offshore pipeline. The Gas Directive lacks a provision regarding a pipeline connecting a Member State with a 3rd country, meaning it makes the applicability of EU general law principles difficult for Nord Stream 2. However, to say that EU law does not apply is wholly false.”
The real problem with Italy’s banking system is not the new EU legislation but its poor supervision, which means the system does not function. Imposing European regulation on this system means that instead of penalising the investors who took risks or the hedge funds, you destroy the small investors.
Companies have to make an effort to generate quality jobs so the recovery in confidence and consumption ends up being consolidated, says Mutua Madrileña chairman Ignacio Garralda.
“The stock market’s relevance and its trading volumes increase to the extent there is a good derivatives market, given that this helps neutralise part of the risk of exposure to the stocks. In this sense, multiple products help to deepen the market.”
“…One of the reasons for the high level of youth unemployment in Spain has to do with the fact that companies hardly get involved in the dual training system,” explains Hermann Simon the chairman of Simon-Kucher, the preferred consultancy firm of the “hidden champions,” those German mid-cap companies which compete globally. “Spain’s level of innovation is very weak…the whole country cannot live just off tourism services.”
Fernando Rodríguez | Ignacio Gómez-Montejo is the director of ICR Institutional Investment, manager of Equity Arbitrage, the only fund of funds Hedge Fund which is continuing to sell products in this category in Spain. He knows very well Spanish investors behaviour given his 25 years long experience in the financial sphere.
“We are still generating 20% of our electricity with coal and this increased in 2016 compared with the previous year…It’s cheaper than gas. And that’s the point: no matter how much we try to establish targets, companies operate on a day-to-day basis, look for economic efficiency and use the cheapest form of energy available,” says Carmen Gómez de Barreda, board member at Red Eléctrica.
“What is clear is that Greece cannot pay its debt and will never pay it. There needs to be an acquittance. And European legislation does not allow for waivering of debt. What they are going to do now, and it should have been done seven years ago, is to modify the conditions in such a way that the debt will be practically waivered,” says Spanish economist Fernando Eguidazu, as he leaves his Foreign Office post of Secretary of State for the European Union.