Top Stories

Articles by Ana Fuentes

About the Author

Ana Fuentes
Columnist for El País and a contributor to SER (Sociedad Española de Radiodifusión), was the first editor-in-chief of The Corner. Currently based in Madrid, she has been a correspondent in New York, Beijing and Paris for several international media outlets such as Prisa Radio, Radio Netherlands or CNN en español. Ana holds a degree in Journalism from the Complutense University in Madrid and the Sorbonne University in Paris, and a Master's in Journalism from Spanish newspaper El País.
Prof YAO

World economy 20th October 2014

“Globalisation is Southern Europe’s source of agony”

MADRID | By Ana Fuentes | Trying to compete with emerging markets is not enough: Those EU countries trying to re-launch their industrial sectors in order to boost  economic recovery need to go through technological changes, Yao Yang explains to The Corner. Dean of the China National School of Development and Director of the China Center for Economic Research, he believes that austerity in Europe has not been in vain. On the same day, business-research group Conference Board reported that Chinese growth will dip to 5.5% in 2015-19, Prof. Yang points out that such a decline would not mean any catastrophe. 

labour markets

In Europe 9th October 2014

No jobs, no growth: Why the ECB’s last bulletin points to eurozone labour markets

MADRID | The Corner | Although employment is not in the central bank’s mandate, the European Central Bank’s October monthly bulletin focuses on the impact of the economic crisis on euro area labour markets. “Monetary policy is focused on maintaining price stability over the medium term and its accommodative stance contributes to supporting economic activity. However, in order to strengthen investment activity, job creation and potential growth, other policy areas need to contribute decisively.”

euro dollar

In Europe 1st October 2014

IN DEPTH: Is low inflation the greatest problem for the European economy?

MADRID | By J. L. Martínez Campuzano (Citi) | I beg your pardon, I meant to say “persistently low” inflation. If it is not (and here we are in agreement), then why is the ECB repeating the same argument over and over to justify its decisions? Non-existent official rates, negative deposit rates, unlimited liquidity provision for banks, and the latest invention: the purchase of securitised corporate paper for credit operations. 

US China exchange rate conflict

World economy 1st October 2014

China under the markets’ spotlight: What is really going on?

MADRID | By Ana Fuentes |  Protests in Honk Kong have served to put even more pressure on Beijing’s economy, which is already struggling to maintain growth, boost household consumption and ease credit lending. The last monetary easing by the country’s central bank and the rumours that its governor could be replaced for being too reform-minded has seen certain questions arise. Are they pertinent or just distorting noise?

Germany and the euro

Markets 26th September 2014

Euro’s depreciation gives Draghi a respite

MADRID | By Francisco López | The ECB’s measures since June have been oriented to fight the ghost of deflation, increasing the Eurozone’s economic activity and, in an indirect manner, managing the euro’s depreciation. For the moment Mr Draghi has failed in the first two goals, although he has succeeded in the third one. The euro is plummeting –which is good news.

No Picture

Companies 14th September 2014

Isidoro Álvarez, chairman of Spanish leading retail giant, El Corte Inglés dies

MADRID | The Corner | The head of the retail company, Isidoro Álvarez, died on Sunday at 79 years old. Álvarez managed the Spanish giant since the the death of the firm’s founder, Ramón Areces, in 1989. He began working at El Corte Inglés at the age of 18, while studying Economics and Business Sciences at the Complutense University in Madrid, and at 24 he was already appointed a Member of the Board of Directors. The executive made El Corte Inglés the leading company and the reference within the retail sector. His death happens just few days after another’s national corporate heavyweight, Emilio Botín, Santander’s chairman.

if no deal Brexit, pound in free fall

In Europe 14th September 2014

Scotland’s starting debt

LONDON | By UBS Global Research | While there has been considerable attention paid to the impact of an independent Scotland on British government debt ratios, the debate about independence has paid very little attention to Scotland’s starting debt. If an independent Scotland were to take a per capita share of gross debt, it would have a debt burden of around 88% of GDP (after the migration of part of Scotland’s financial sector). Scotland’s initial deficit and the set-up costs for the new state would need to be added to this number.

French government next corporate taxes rise

In Europe 14th September 2014

France: two more years to get to the 3% deficit objective

LONDON | By JP Morgan analysts | The French Finance Minister, Michel Sapin, announced this week that the deficit objective of 3.8% of GDP for 2014 would not be reached. This news was not surprising as the Ministry of Finance hinted this summer that the general government deficit would likely to be above 4% this year. But in his last speech, Sapin suggested that the magnitude of the revision would be large, as the government now expects a deficit of 4.4% for 2014. This represents a 0.1% worsening of the deficit with respect to 2013.

deflation

World economy 13th September 2014

Deflation can be “good” or “bad”, it depends

SAO PAULO | By Marcus Nunes | I do not want to question the likely bad effects that come about owing to a large unexpected deflation (or inflation).  What I want to question is whether a period of prolonged moderate (and presumably expected) deflation is necessarily associated with periods of depressed economic activity. Most people certainly seem to think so. But why?

No Picture

In Europe 9th September 2014

Housing prices rising in Spain only the peak of a huge non-sold stock iceberg

MADRID | Ana Fuentes | The first rise in Spain’s property prices since 2008 made big headlines on Monday. The government was proud to feed the press with some positive figures in order to illustrate its new recovery rethoric: 2Q housing prices increased by 0.8% on the year, compared with a 1.6% drop in annual terms in 1Q. But prices are going up… only for the few real estate actually being sold. What about the 600,000 properties in stock that banks are desperate to get rid of?