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Alexander Pechersky2Bandera

World economy 3rd November 2014

Russian market: Winter is coming

MADRID | By Sean Duffy and Ana Fuentes | Growth is stagnant, sanctions are biting, and Russian investors are getting the cold-shoulder on international markets. So where does the country go from here? The Corner wanted to get a glimpse at market conditions on the ground and the overall sentiment within the country. 

We spoke to Alexander Pechersky, a managing partner from ALT R&C, a firm specialising in advice to investors in the Russian market. In a frank interview, he cautions against placing too much stock in the effects on sanctions, noting that the economy was a mess to begin with. 

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In Europe 9th October 2014

Germany’s dilemma: Between Europe and the AfD’s europhobia

FRANKFURT | By Lidia Conde | It is time to grow! Well, that’s everybody’s motto. However nobody agrees on how. That’s why the European Central Bank is moving ahead with its bond-buying program. After all, if the ECB steps away from its inflation target, the structural unemployment rate would increase and the potential economy growth would be reduced. 

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In Europe 29th July 2014

In Greece, UnLuCky for some: Another painful lesson from the euro crisis

ATHENS | By Yiannis Mouzakis via The Agora | No matter what overall opinion you have of the Greeks, you really ought to hand it to us for tolerance. Over the last year and a half one of the three key players in Greece’s crisis management team has repeatedly and openly admitted that the prescription for addressing the country’s predicament was wrong.

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In Europe 11th July 2014

Greece: Public deficit and democratic duty

ATHENS | By Nick Malkoutzis via MacroPolis | A newspaper article on Sunday, quoting an allegedly secret report by officials at Greece’s General Accounting Office and the Hellenic Statistical Authority (ELSTAT), claims that the country’s deficit figure in 2009 was “over-dramatised” (or “sexed up” if you prefer) by the PASOK government that took over in October of that year. 

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World economy 9th July 2014

Why Europe is losing out in China

COPENHAGUEN | By Peter Lundgreen via Caixin | In China, the right phone app can get 30 to 40 million users in six to 12 months. The focus on exporting goods to this market ignores the contributions Europeans could make in the dynamic tech sector. 

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World economy 28th June 2014

Bankinter expects 3Q vertigo in sound cycle

MADRID | Bankinter Analysis | 3Q Perspectives. Economic cycle speeds up and, mostly, gains soundness and reliability. Global growth will consolidate in 2014/2015 by +3%/+4% with positive news for developed countries and less favorable surprises in emerging markets. Japan and India are the exception to this rule. Spain will also amaze and main economic risk will lie in regional regional integrity issues whose aftermath may be undervalued, regardless the final scenario.

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In Europe 26th May 2014

European Elections: the dangerous rise of europhobia, disappointment and disaffection

The Corner Analysis | In the grim day in which the French National Front victory broke the expectations of a more united and strong Europe, Spaniards broke the bipartisan establishment for the first time in 35 years. Podemos, born from the Indignados (outraged) movement, was the biggest surprise in the political arena. Voters weary of austerity measures and corruption also punished the political establishment in Greece. Eurosceptics and xenophobe movements dangerously gained strenght in Denmark, Austria, Finland and the UK.

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Markets 4th April 2014

Roaming fares and air traffic capture Friday’s market chatter

MADRID | By Jaime Santisteban | European Parliament could eliminate roaming mobile phones rates as of December 2015. Although they’ve been reduced in the last years, it still means 2 % of Telefónica Group income. ACF foresees an impact worth 4 % in the company’s EBITDA.

 

IAG released March air traffic figures which were under target but keep the recent trend. Demand grows (+10.2 % vs March 2013) for the second straight months. Iberia lost -5.1 % compared to February whereas Vueling (+21%) and British Airways (+3.2%) improved. RENTA4 expects no impact on IAG share price.

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In Europe 4th April 2014

Why was China carrying gold?

SCOTTSDALE (ARIZONA) | By Keith Weiner via Truman Factor| I would discourage everyone from making too much out of the Chinese gold carry trade. It’s not a giant conspiracy to buy up all the gold, while suppressing the price. It is not some farsighted plan to anticipate the collapse of the dollar by owning hard assets.

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In Europe 27th March 2014

Greece: come back Cleisthenes, all is forgiven

ATHENS | By Nick Malkoutzis via The Agora | Over the last few weeks, several members of Greece’s 2004-2009 government have basked in the same Attica sunlight as the ancients, while displaying the carefree abandon of people who don’t feel responsible for the country’s dire financial state or its shattered reputation.Had public officials done the same in other European countries, their careers would have been destroyed. In Greece, these men claim their absolution and rehabilitation almost unchallenged.