MADRID | By JP Marín Arrese | Lacking enough resources to shore up potential contingencies, Spanish banks might be forced to ask for further assistance under the rescue umbrella.
VALENCIA | By Álvaro Mohorte | The operation, now in an early stage, is basically online although some distribution shops in countries like the UK have showed interest.
Eurozone countries are under an obligation to reduce their deficits to below 3% of GDP by this year. Failing could mean to be fined up to 0.2% of GDP. But the Commission seems to have eased its austerity-led policies in order to boost growth. “It may be reasonable to extend the deadline by two years and to correct the excessive deficit by 2015 at the latest,” European commissioner for economic and monetary affairs and the euro Olli Rehn has said.
MADRID | By Javier Flores of Asinver | Rising the actual minimum wages would benefit families at risk of social exclusion and poverty with no backlash results for the stability of those jobs.
MADRID | By El País | A total of €6bn for 6 million unemployed young Europeans. The plan presented by Germany and France is a response to an absolute emergency. But for it to work, it must be supported by a collective will.
LONDON | Anders Borg (Stockholm, 1968), Finance Minister of Sweden: “Handling the crisis is not primarily about how well we manage short-term stabilisation. Instead, the crucial issue is our readiness to confront more fundamental questions that will determine long-term growth.”
BARCELONA | A fiscal effort of 4.4 p.p. should be enough to reduce the deficit by 0.7 percentage points, down to 6.3% of GDP. Given that the effect of the temporary measures is 1.0 p.p., the measures announced might even offset the effect of economic deterioration.
BARCELONA | By CaixaBank research | The German economy has no worrying macroeconomic imbalances. However, this situation might change if it does not stimulate domestic demand.
VALENCIA | By María Costa, via valenciaplaza.com | Entrepreneur Ignacio Tello has found capital and partners to set a Spanish competitor to Ikea.
MADRID | By Julia Pastor | Spain, according to Schaüble, is a good example of homework done. Germany’s Economy Minister praised labor costs reduction, export rate increase and all the effort the Spaniards have done in reorganizing their financial sector, even after the Troika’s review.