In Spain

Spain services PMI

Spanish borrowers will have more difficulty paying their consumer loans, according to Moodys

Link Securities | According to Moody’s credit rating agency, the sharp decline in consumer confidence in Spain during 2H19 reflects the growing concerns of Spaniards about the economy and employment. The agency believes that consumer confidence data represent an advanced indicator of the increase in the risk of assets and the consequent deterioration of the evolution of securitized loans.

Spain's pensions debt to rise over 200% of GDP by the end of 60s

Spanish government gives green light to 0.9% pension increase

The first ministers cabinet meeting in Spain on Tuesday approved the rise in pensions by 0.9%. The increase will be applied retroactively from January 1 and will affect more than 10 million Spaniards, both contributory and non-contributory and passive class pensions. It will cost the Spanish coffers 1.4 bn euros.

Spain: Can Pedro Sanchez lead a consistent government?

Fernando G. Urbaneja | Critics warn that the first Spanish coalition government will be a weak and incoherent one. That can be an advantage. Some call it a radical government of “communists” who come to resurrect ghosts of the past. If those guesses are not met, the cabinet will get a clear push forward.

Spain's left’s inability to unite against the right

First Coalition Government in Spain: Possible consequences

Alvise Lennkh (Scope Ratings) | It is unlikely that the minority government led by the PSOE significantly reduce the structural deficit and debt of Spain, while the proposal for partial repeal of previous labor market and pension reforms could adversely affect employment and sustainability of the pension system. This government coalition does not have a parliamentary majority and, therefore, depends on the support of other parties to pass each law, starting with the next general budget, which will be crucial for the credit rating of Spain (currently in A- / Stable).

The agreement on the minimum wage and the relative success of the trip to Catalonia encourages the new government

The new all or nothing government for Spain

Ana Fuentes | The recently appointed coalition government is facing the biggest constitutional crisis of Spanish democracy. With almost half of the parliament against, in addition to criticism within his own party, PM Sanchez has launched an all or nothing bet. If he manages to take a part of Catalan pro-independence supporters to the constitutional path, and ERC renounces unilateralism as Basque separatism did, this will be an achievement for posterity. But the play may go wrong for the Socialists, and it would not be the first time.

Pedro Sánchez falls short of majority but will likely prevail tuesday

Pedro Sánchez Falls Short of Majority, But Will Likely Prevail Tuesday

Atlantic Sentinel | Left-wing separatists would allow the social democrat to become prime minister a second time. Spanish Socialist Party leader Pedro Sánchez fell short of a absolute majority in Congress on Sunday to become prime minister a second time. However, left-wing separatists from the Basque Country and Catalonia have agreed to abstain from a second vote on Tuesday, which should allow Sánchez to scrape by with a majority of one.

Economy at a glance: the bank of Spain forecasts

Economy At A Glance: The Bank Of Spain Forecasts

Círculo de Empresarios | The Bank of Spain forecasts that the Spanish economy will embark on a gradual path of deceleration until 2022, and therefore maintains its 2% and 1.7% annual growth forecasts for 2019 and 2020, respectively.

The Spanish economy in 2020: things are not looking so bad

The Spanish Economy In 2020: Things Are Not Looking So Bad

Oriol Carreras and Eduard Llorens i Jimeno (CaixaBank Research) | All the indicators suggest that next year will be defined by the same key elements. As we can see in the first chart, to the extent that global growth, and that of the euro area in particular, remains contained, we do not expect to see a significant surge in exports. Therefore, the foreign sector will continue to provide very modest contributions to growth. Moreover, the global environment will remain a source of risk.