MADRID | By Antonio Sánchez-Gijón, capitalmadrid.com | François Hollande’s presidency has made little progress in convincing Berlin that the Eurozone will not recover if it has to implement further budget cuts.
MADRID | Ignoring that Italians have given support to political programmes contrary to current austerity policies would be a temerity.
MADRID | As France pushed for in the last euro summit, the EU-wide banking supervisor would be set up by 2013. But its work will not begin until after Germany’s elections in the second half of the next year, and direct bank recapitalisation is out of the table, again. Ms Merkel was the real winner.
By CaixaBank research team, in Barcelona | France's statistics institute confirmed the French economy's stagnation in the first quarter and the year-on-year rate of change stood at 0.3%. In April, the economic climate indicator worsened and, in May, most leading indicators showed this decline getting worse, affected by the economic uncertainty, particularly due to the euro area crisis. The economy is therefore likely to continue slowing down in the second…
NEW YORK | U.S. President clearly sided with pro-growth Europeans remarks in his final NATO summit remarks on Monday, urging the Old Continent to strenghten its defenses against financial market turmoil and recapitalize its banks. In a nutshell, these were his three darts. Yes to a monetary policy “We’ve got to make sure that there is a growth strategy to go alongside the need for fiscal discipline, as well as a monetary…
By Julia Pastor, in Madrid | The idea of a suffocated Spanish banking sector spreads like fire throughout the markets: Bankia’s nationalisation, Moody’s cut, the French president François Hollande advising to recapitalise the sector… But the International Monetary Fund will publish next week a report that assures 70% of Spain’s financial entities are already restructured. This news should help tame and perhaps even extinguish the flames. Analysts at Madrid’s financial City also…
NEW YORK | There was a final statement, yet not a consensus about how to tackle the euro zone turmoil. Everyone in Camp David hoped that Greece will remain in the euro. For the first time, the argument that Europe cannot face more spending cuts gained widespread support. G8’s final communiqué showed a big push to German Chancellor Angela Merkel: it is urgent to bring deficits down through austerity measures…
After the news came in of French president François Hollande’s brief encounter with the ever irresistible forces of nature, I began to consider in all seriousness what my mother said about the just sworn-in European leader: “poor thing,” she had muttered during our daily London-Valencia FaceTime conference, which is motherly talk for the more common ‘that guy’s a loser’ remark. Indeed, he was struck by lightning twice in just hours. Here’s the…
By Jesús Sánchez-Quinones, in Madrid, for Cotizalia | Europe has for more than three years now been immersed in a profound crisis of its economy and beyond. The focus of trouble has been moving from country to country. First it was Greece, when its authorities acknowledged that they had falsified its public account figures in late 2009. After Greece, the focus shifted to Ireland when his government had to seek a bailout to…