We’ve opened a little simple section, ‘From all corners of the web’, which you can check on the left end of our front page. As we are (sort of) the new kid on the street, we feel terribly curious about, well, almost everything we hear here, so in addition we hope you’ll like these link selections that will be posted over each weekend. And as always, our comment widgets are anxious…
From El País, details on the largest Spanish overseas contract so far after a Spanish consortium, in which Saudi companies are also involved, has been awarded the project of building a high-speed line (High-Speed Railway) that will connect the cities of Medina, Jeddah and Mecca in Saudi Arabia, “with a budget of 6.736 million of euros, as reported by the Saudi Railways Organization on its website. ” The Ministry of Public Works…
Passing on a clarifying (!?) note from Citi analysts… “The first comments, which anticipate a much discussed and possibly without clear conclusions summit in Europe today, were disappointing. Especially on two, at the moment, important issues: banking and the EFSF. Also, the markets themselves were disappointing. Gold has again gone up sharply ($ 1,714 an ounce) as well as raw materials (crude oil $ 111.35 per barrel). This rise is…
Passing on a clarifying (!?) note from Citi analysts… “The first comments, which anticipate a much discussed and possibly without clear conclusions summit in Europe today, were disappointing. Especially on two, at the moment, important issues: banking and the EFSF. Also, the markets themselves were disappointing. Gold has again gone up sharply ($ 1,714 an ounce) as well as raw materials (crude oil $ 111.35 per barrel). This rise is…
By Luis Arroyo, in Madrid | In case you needed tangible proof of the harmful role the ECB played in the crisis, in the FT, Martin Wolf writes an open letter to Trichet’s imminent successor to the presidency of the ECB, Mario Draghi. The letter is an excellent article that convincingly explains why the ECB should stabilize the debt markets of solvent countries such as Italy and Spain, which are the…
By Luis Arroyo, in Madrid | In case you needed tangible proof of the harmful role the ECB played in the crisis, in the FT, Martin Wolf writes an open letter to Trichet’s imminent successor to the presidency of the ECB, Mario Draghi. The letter is an excellent article that convincingly explains why the ECB should stabilize the debt markets of solvent countries such as Italy and Spain, which are the…
By Miguel Navascués, in Madrid | H. Clark Johnson, professor at Yale University, identifies in a paper titled Monetary policy and the Great Recession, what he calls the six myths of U.S. monetary policy during the Great Depression. The paper not only explains the cause of the hole we’re in, but also the reasons why zero interest rate does not imply monetary expansion. In the latter case, the reason is simple:…
By Miguel Navascués, in Madrid | H. Clark Johnson, professor at Yale University, identifies in a paper titled Monetary policy and the Great Recession, what he calls the six myths of U.S. monetary policy during the Great Depression. The paper not only explains the cause of the hole we’re in, but also the reasons why zero interest rate does not imply monetary expansion. In the latter case, the reason is simple:…
At The Corner, we have a noticeable penchant for mixing news from the bright side, so we couldn’t let pass this occasion in which one of the core-Europe main actors and some British-based bank analysts have had warm opinions on the state of the Spanish economy (emphasis is ours.) According to this piece of reporting from the best-seller Spanish newspaper El País, at the end of the European Council meeting, French president…