Just Sanchez

Sánchez, Setting An Example: 4% Pay Rise, Compared To 3.5% For Civil Servants

The coalition government led by Pedro Sánchez has decided to implement a 4% pay rise for next year, above the 3.5% planned for civil servants and MPs. With this, Prime Minister Sánchez’s annual salary will be 90,010.20 euros a year, which means a monthly salary of 7,500 euros. The Ministry of Finance agreed with unions Comisiones Obreras and UGT a salary increase for civil servants of up to 3.5% in…

Read More

Spain´s public deficit in 2017 was the highest in the EU

The Cost Of New €IG Debt Has Increased By 344bp In 2022 to 4%; Almost Three Times Cost Of Existing Debt

Santander’s analysts explain that the primary is practically closed. The strong market volatility has been accompanied by an almost total closure of the European primary. With only €2.3 billion in the week and with little investor appetite, as orders barely covered the nominal amount of the issue (average b/c of 1.2x). Most of the issues were of a defensive nature, being covered bonds (€750mn) and senior IG debt (€1mm), while…

Read More

Credito y Caución

Santander-brasil

Lula da Silva’s victory does not change Santander’s risk profile, for the time being

Bankinter | Lula da Silva’s victory in the first round of Brazil’s presidential elections does not significantly alter Banco Santander’s risk profile, at least for the time being. Lula, Brazil’s president between 2003 and 2010, has obtained 48.4% of the votes vs current president Bolsonaro with 43.2%. The second round of voting takes place on 30 October. Bankinter analyst team’s view: Brazil is the main source of Santander’s results with…

Read More

Banner CIR, junio 2022

interviews

IsmaelClementeok

“It Cannot Be That The Number Of Public Employees Rises And At The Same Time The Number Of Hours Worked Falls”

Almudena Díez | Ismael Clemente, CEO of Merlin Properties, explains that “What we are seeing today is that the adoption rate of teleworking in Spain is very low. In fact, it is one of the lowest, not only in Europe, but in the world. With the exception of the public administration, which has adopted it massively, with the risk of generating inefficiency” Q: A Bankinter director told us that the…

Read More


fratzscher 1

“The Rise In Inflation Is Largely Due To Speculation. The ECB Will Not Be Able To Stop It By Raising Rates”

Lidia Conde (Francfort) | explains Marcel Fratzscher, president of the DIW (Berlin Institute for Economic Research) who headed the ECB’s International Economic Policy Analysis Department in 2008-2013. In an interview to be published in this month’s issue of Consejeros magazine, Fratzscher explains that “The ECB is habdicapped because it cannot tacle the problem by raising rates, neither this year nor the next”, which is why “I am not in favour…

Read More



…in the last week