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Articles by Julia Pastor

About the Author

Julia Pastor
Julia Pastor has broad experience in business writing for Consejeros Media Group at Consejeros, Consenso del Mercado and The Corner. Previously, she worked for the financial news agency GBA and contributed to El País Business. She holds a Master's in Financial Journalism and a degree in English from the Complutense University in Madrid.
Spaniards

In Europe 15th April 2014

Spaniards did rescue Spain

OP ED by Julia Pastor | Brussels welcomed Spain’s economy timid comeback to the path of growth in 4Q13. When some financial publications wonder who saved the country, they quote Draghi’s OMT as well as the internal devaluation followed to PM Mariano Rajoy’s reforms. They do not mention, however, that due to internal devaluation Spaniards have seen their salaries cut by an average of 10%, and 27% of household depends on retired people pensions, who are even assuming mortgage loans their kids can’t pay anymore.

greece's bonds. Source: trade web/wsj

In Europe 10th April 2014

Care for a juicy Greek T-bone?

MADRID | By Julia Pastor | “Today we return to the bond markets after four years,” Greek Finance Minister Yannis Stournaras said on Thursday just before his country’s 5- years bonds matched analysts’ best expectations: €3bn over estimated €2-2.5 bn, with a demand around €20 bn and interest rates of 4.95% against foreseen 5-5.2%. As good food does, the auction is nourishing the twice bailed-out EU economy.

Real state

Spanish economy 9th April 2014

Spanish housing market 180º turn

MADRID | By Julia Pastor | The wretched Spanish housing market has been giving timid but solid signs of recovery. Last data point to an investment increase of 60% to €4 bn which will mainly be led by international investors, as appraisers at Spanish Tinsa reported. Meanwhile, midcap Colonial symbolizes the falling as well as the revival of national property sector thanks to a new debt refinancing contract signed partly with sovereign funds and a capital increase entered by foreign investors.

Greeces stability

In Europe 9th April 2014

Greece’s ultimate sacrifice for stability

ATHENS | By Nick Malkoutzis via Macropolis| Concern has been frequently expressed about some of the people surrounding Greek prime minister Antonis Samaras. In November 2011, he ousted former minister Sotiris Hatzigakis from the party because he complained that “far right elements” were changing the face of New Democracy. Several dozen criminal cases, including murders, involving Golden Dawn had piled up in Public Order Minister’s drawers. The question now is whether these, and other policy decisions, were driven by a warped ideology that has no place in a European Union country.

Dance together

In Europe 8th April 2014

EU’s mergers ballroom is open

MADRID | By Julia Pastor | Telecoms were the first sector opening fire in the European M&A’s market with the purchase of Ono by Vodafone. Now it is the turn of the construction industry via the merger of the two cement makers global leaders French Lafarge and Swiss Holcim. Joining both businesses would result into a company valued at $ 40 bn, which is presumably to face an investigation by competition authorities. Tourism sector would also participate in the corporate ball by selling 49% of airline Alitalia to Arab Emirate’s Etihad.

Foreign_Workers

World economy 7th April 2014

Empowering U.S. workers to challenge corporate decision making

NEW YORK | By Richard Kirsch via next New Deal | If we are to give American workers the ability to bargain for a fair share of the wealth they create, we need strengthen labor law and bring in 34 millions workers (one-in-four) who are now excluded from the National Labor Relations Act.  These include domestic workers, farmworkers, front-line workers with minimum supervisory responsibilities, and public employees.

No Picture

Spanish economy 4th April 2014

Spain reaches surplus for the first time in 15 years

MADRID | By Julia Pastor | When the crisis began in 2007 Spain’s external deficit was over 10% of GDP. It was along with U.S the highest in the world. The country’s economy, however, closed year 2013 with financing capacity for the first time since 1998, reaching to 1.5% of GDP and amounting €15.6 bn. This means Spanish external position shifts direction, thus being capable not only of paying its debt but also generating money for other countries to lend.

No Picture

Spanish economy 3rd April 2014

4.8 million of Spanish jobless, unacceptable for 4th EZ economy

MADRID | By Francisco López | Figures of March’s unemployment in Spain are clearly good, although talking about a trend change in labour market seems sort of unwise given current indicators of growth, deficit and debt. Therefore, Spanish Ministry of Economy Luis de Guindos anticipated a modification of the economic estimations that will be sent to the European Comission before the end of April. 

energy security2

In Europe 3rd April 2014

Shale and European Energy Security

What does the shale revolution mean for European energy security? An increase in localized production would shift dependence and decrease the exorbitant prices that European consumers pay for energy. Currently, electricity costs in Europe are roughly triple American prices and double Japanese prices.

abertis

In Europe 2nd April 2014

Abertis mirrors Spanish economy’s take-off

BARCELONA| By Julia Pastor| In present Spain’s context of timid recovery, any positive sign in any sector is more than welcome. Abertis, the world’s largest toll road operator running more than 7,300 km, announced the country’s 2014 road traffic figures increased for the first time since 2008. The firm also forecasts a global spending of more than €1.3 bn in the current year. Yet Abertis partly reflects the Spain of  bankrupcies and bail-outs. The company is major stakeholder of some recently collapsed motorways expected to be saved by the authorities.