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.
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Sacyr and Panama Canal’s affair to end with “conceptual agreement”

MADRID | By Julia Pastor | Come to peace terms has not been easy for Spanish company Sacyr and Panama Canal Authority.  The pre-deal tacitly accepted by both parties mid February suffered a little setback some days later when hesitations of the project insurer as well as Spanish government’s prevented to sign the contract. On Thursday, the pre-deal became a “conceptual agreement” that hopefully will put a real end point to such a prolonged and complex diplomacy affair.

 

 


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Spain cannot become Norway, Norway cannot become Spain- at least easily

OP-ED By Julia Pastor | Spain should turn its clocks back taking the time zone of their European counterparts since the country stands at the same range of Greenwich Mean Times that rules dayly life of the City of London and main financial places in Europe. This measure would push Spanish competitivity and help families to reconcile work and private life, according to Spanish government and also some anglosaxon media. Most of Spanish workers would be pleased to change working hours for leaving the office at 5 o’ clock like their neighbours. But will  companies move on so easily?


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Misteries to solve about Spain’s structural unemployment

MADRID | By Julia Pastor | Overwhelming figures on Spanish unemployment are as unbereable and unjustifiable as difficult to undo. Nevertheless, it is convenient to remember that these numbers start from a structural rate of around 9% which would always distort comparisons with other European countries as well as final conclusions. According to the last European Commission estimates, natural rate of unemployment in the country has increased from 10.9% in 2006 to 23.2% in 2013, which will increase structural figures to 26.6% by 2015. This gives some sort of “apocalyptic view” over Spanish economy’s state, JP Morgan’s says to its clients. Maybe economists at the EC “forgot to make some reasonable adjustments.”


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Europe says no to racism denialism

MADRID | By Julia Pastor | Racist and xenophobic instincts exist in European countries in a more or less controlled way since Europe is Europe. To deny Holocaust has been long considered a criminal offense in Germany and France but the European Commission still cannot punish member states that do not apply correctly the European rules against racism and xenophobia. Yet things can change.


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The controversy of Spain’s Iberdrola speaking English

MADRID | By Julia Pastor | Words from the energy firm’ s president Ignacio Sánchez Galán saying before international investors that “they were more British, US and Mexican that Spanish” to explain each corporate bussiness’ importance on the company’s balancesheet has been a kind of hurt. Furthermore, Iberdrola announced  a cut of investments in Spain: of an overall €9,600bn, only €1.5 which means 15%, will come to the country and be limited to maintenance operations, while the UK will be the major destination with 41% of investments. Against the background of the controversial energy reform having place, the debate between Spanish government and energy industry is getting hotter.


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Warning signs in Germany’s housing market

MADRID| By Julia Pastor | German families are the largest savers in Europe but their banking deposits are not profitable enough in the current context of low interests rates. As a consequence national housing market is living a boom with an overvaluation between 10-20%, and reaching 25% in some capital cities such as Berlin or Hamburg. Does the word “bubble” suit these figures?


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Euro zone, Spain and Japan: a 0.3% GDP’s rise with different meanings

MADRID | By Julia Pastor | Last week it was picking season. The euro zone as a whole as well as several member coutries such as Germany, France or Greece and other core economies beyond the region like Japan reported their GDP growth in the end quarter of 2013. Both the euro area and Japan increased by 0.3%, curiously the same that Spain expanded in the same period. As European registers are a reason for content, Asian country’s mean a disappointment.


Sacyr and Panama make peace at last

MADRID | By Julia Pastor | It has been a long process plenty of gives and takes but Spanish company Sacyr and Panama Canal authority have agreed in principle over works’ finalisation at the inland waterway that connects the Atlantic Ocean to the Pacific. The pre-deal is a cocktail mixing proposals of one side and the other: converting the $400 million insurance into a loan to enable the firm obtain external funds, and also an equally divided contribution of $100 million on each part. Furthermore, Panamian administrator will allow GUPC to postpone the repayment of $780 million anticipated in the contract. The international arbitration on $1,600 million in overun costs will continue parallel to project’s termination.


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Using the Term PIIGS Is Not Cool Anymore

OP-ED By Julia Pastor | The term PIIGS was coined in the 90s to speak about troubled southern countries on the eve of their entry into euro zone. During the current crisis, the word has been recurrently used to point bailed-out economies. And it kind of hurts. No international institution has ever adopted the ‘P word’. Banks such as Barclays even banned their analysts to use it.


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Bill Gates bites Spanish market again with Prosegur’s little purchase

MADRID | By The Corner Team | When Bill bought 6% of Spanish construction company FCC in last October Spain’s analysts remarked renowed investors interest in the country and anticipated the trend would continue in the coming months. On Tuesday, Bill Gates counterbacked with the acqusition of 2-3% of private security Prosegur.