In Europe


I call Angela Merkel’s bluff

By Luis Arroyo, in Madrid | German Chancellor Angela Merkel the executioner recently said that austerity is the right path, and that Canada should provide a…


Has Europe overcome its woes?

MADRID | Draghi’s apparent resoluteness in shouldering the euro has dramatically turned the tide. No action has followed his words and yet the July nightmare…





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There is no plot against the euro

By Luis Arroyo, in Madrid | Here you are, Spain’s updated accrued passive account with Target2 or intra-system operations pending compensation. Its sheer volume and…




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The Italian elephant in the euro room

MADRID | Unmistakably, the reflection that the Italian economic indicators are mirroring should look very familiar to Spanish analysts. The slowdown wave is reaching core…