NEW YORK | Several of the top Spanish companies put on a big show this Friday at New York’s Nasdaq. Telefonica, Indra, Dragados, Santander, Iberia, Repsol and many more shared their perspectives at the Spanish Economic Forum in order to boost their image among American investors and break some stereotypes. But how much do these iniciatives help to build real muscle? On the to do’s list: showing more optimism and sharing the cake with the start-ups.
NEW YORK |The Federal Reserve is perhaps one of the most important political factors behind the slow but steady US economic recovery -the country is growing at a 2.5% pace a year despite Europe’s recession and China’s slowdown-. But also, and here comes a problem, America’s central bank could be behind the crazy Wall Street rally.
LONDON/MADRID | The link between less liquidity and worse economic figures looks clearly defined by the extreme timidity of the ECB and the fact that Germany last March joined France, Italy and Spain in the contraction zone.
MADRID | The eurozone’s central bank should have acted as a last resort lender years ago, so peripheral economies would not have had to endure the punishment of excessive prices on market credit.
There is a mirroring effect in all these conflicts: Europeans appear unable to talk about the actual issues that trouble them, that is, debt and democracy.
By Juan Carlos de Martín | Responding to political crisis, a chorus of voices, such as Italy’s Five Star Movement, are calling for a transition to the direct participation that the Internet has made possible. However, the two systems should complement, rather than compete against each other.
MADRID | Cuts and tax rises cannot be considered by all means as negligible. Bur their real impact on disposable incomes does amount to a rather modest share, on average.
PRAGUE | The EU has ruled on the curves of cucumbers, forbidden hairdressers from wearing heels, and even financed a porn film. These urban legends about decisions taken in Brussels are as endless as they are false. And they all get the kiss of life in the same place: the British tabloids.
MADRID | The European Central Bank must change course, too, so market credit costs drop to a range at which peripheral governments will not suffer as much as they do now. Brussels and Berlin may stubbornly be strangling the eurozone because they cannot see the wood from the trees.
FRANKFORT | Frankfurter Allgemeine Zeitung‘s editor Frank Schirrmacher: “What sovereign rights and competences do we have to transfer, also Germany, to build a strong continent? Europeans will have to decide what price are we ready to pay for a cooperative Europe.”