MADRID | Without the debt mutualisation well organised single-currency unions have, the euro zone is nothing but a bunch of weak links. Citi strategist JL Campuzano advocates for deeper budget consolidation now, for economic growth in the near future.
In peripheral countries such as Greece, Portugal, Italy and Spain, the political class has been clearly overwhelmed by the crisis and its devastating effects, says commentator Carlos Díaz Güell.
MADRID | Ferrovial reinforced its international footprint. Sales outside Spain accounted for 63% and international projects accounted for 63% of the combined Construction and Services backlog, which totalled 22.460 billion euro.
British retailer marks & Spencer advances plans to rebuild its presence in continental Europe using online shopping, from core euro zone’s Germany to peripheral Spain.
Japan is slowing down and faces a second half of 2012 with weak activity, CaixaBank research shows. The fact that the nuclear switch-off will increase the cost of energy imports doesn’t help.
Large institutional investors such as Pimco have publicly acknowledged their interest in Spanish debt, precisely because of the ECB buying program, but it remains to be seen whether the foreign interest is consolidated.
CaixaBank research | The current surplus reaches almost 60 billion euros, close to the peak of 2004. Rising oil prices and the euro’s appreciation might slow up the pace of growth in the current surplus.
MADRID | DIA registers a turnover of €8.733 billion in the first nine months of the year, a 6.9% increase. Turnover in Spain climbed by 5.7%.
Oil prices fell below 110 dollars per barrel and are lower than last year’s levels. Watch Saudi Arabia and Iran, though, note CaixaBank analysts.
By CaixaBank analysts, in Barcelona | The United States grows by 2.3% year-on-year, but the weakness in employment and fiscal adjustment force a third round of quantitative easing by the Federal Reserve.