In economist Luis Arroyo’s view, the Spanish Treasury would have made two mistakes that hit hard the economy: too high a VAT rate, and too expensive energy bills.
CaixaBank research | The current surplus reaches almost 60 billion euros, close to the peak of 2004. Rising oil prices and the euro’s appreciation might slow up the pace of growth in the current surplus.
Economist Luis Arroyo rephrases the popular “we all are in this together” slogan: we all at the euro zone are heading towards recession in less than a year.
By CaixaBank analysts, in Barcelona | The United States grows by 2.3% year-on-year, but the weakness in employment and fiscal adjustment force a third round of quantitative easing by the Federal Reserve.
BARCELONA | Europe’s political agenda intensifies, analysts at CaixaBank. But the dynamism of the foreign sector is not enough to offset the fragility in domestic demand.
Euro area and European Union government deficit has reached 4.1% and 4.4% of GDP, respectively. Government debt is at 87.3% and 82.5%, according to Eurostat.
City of Madrid analysts have checked figures of the German ZEW index and its evolutions regarding actual GDP changes. They expect the engine of this core euro zone economy to go into negative territory during the coming months.
Vice president Joe Biden’s performance was too aggressive, according to most analysts, but fared better among voters that a mild-mannered president Barack Obama. The second US election debate put pressure back on the Republicans’ team.
Brazil will invest 53.5 billion euros in infrastructures. The effectiveness of these measures, though, depends on their correct and swift implementation, note CaixaBank analysts.
Barclays analyst A. Vigil alerts of the many weaknesses of Germany’s economy behind its current standing as ‘Europe’s savior’.