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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Solar power in Spain to get investments of €70 bn

World economy 7th April 2022

Elon Musk Advises Spain And Portugal To Make A Massive Deployment In Solar Energy

Bankinter | Elon Musk, the founder of Tesla, Twitter’s largest shareholder and the world’s richest man posted a tweet yesterday in which he encouraged Spain and Portugal to carry out a “massive deployment” in solar energy. According to Musk, Spain and Portugal could supply energy to all of Europe.Opinion: Elon Musk’s comments had a positive impact on the stock market, leading to strong rises in the main shares of renewable…

Euribor2

European economy 6th April 2022

Euribor, Another Tsunami On The Way

Fernando González Urbaneja | Uncontrolled inflation, in Spain and in Europe, leads to an immediate monetary response in the form of a less accommodative central bank monetary policy, i.e. less money available and a higher price for that dwindling money. Implementing such a policy is not easy, it is necessary to mix rigour with gentleness, with temperance. The risk of going too far is as real as the risk of…

pensiones cuquis

Spanish economy 6th April 2022

Updating Spanish Pensions With 7% Inflation To Cost Near €12,600 M, Says The Bank Of Spain

The Bank of Spain calculates that updating pensions with 7% inflation would cost the public accounts some 12,600 million, following the entry into force of the pension reform that involves revaluing pensions in accordance with the Consumer Price Index (CPI). According to the central bank, taking as a starting point the approximate expenditure on pensions in Spain and an average inflation for the whole year 2022 of 7% (November over…

FelipeII

Spanish Politics 5th April 2022

Spain: Neither Rome, Nor The Reconquest, Nor Lepanto, Nor The Golden Age…

Pedro García Cuartango, former editor of the newspaper El Mundo, explains in ABC the surprise, the indignation, produced by the penultimate nonsense of the PSOE-UP coalition government regarding its educational project: “The unbelievable becomes possible and the possible becomes real. This is what is going to happen with the decree that the Government is preparing to approve erasing the study of Spanish History before 1812 from the Baccalaureate. Neither the…

barcelona investment

Spanish economy 5th April 2022

Almost One Million People Live In Precarious Conditions In The Barcelona Area, Warns Cáritas

The instability and precariousness of employment and the increasing obstacles to accessing housing pushed 885,000 people, 32% of the inhabitants of the Barcelona area, into social exclusion in 2021. This is 300,000 more than in 2018, according to data handled by Càritas as a result of a survey of 1,800 citizens carried out by the Foessa foundation. The results for the area of the diocese of Barcelona, which includes the…

CalvinoandKaag

European economy 5th April 2022

Brussels Believes That The Proposal By Spain And The Netherlands To Reform European Fiscal Rules “Goes In The Right Direction”

The proposal to reform fiscal rules presented by Spain and the Netherlands to the Eurogroup on Monday has been warmly welcomed. The European Commission likes what the document says. “It’s going in the right direction”, said the Commissioner for the Economy, Paolo Gentiloni, at the end of the Eurogroup meeting on Monday, in which all the finance ministers of the euro area are represented. The Italian also acknowledged that the…

nunez feijoo 777x400 1

Spanish economy 4th April 2022

The Feijóo Enigma And The Electoral Advance

Fernando González Urbaneja | The same PP leaders who last year closed ranks with Casado as a firm candidate for the Moncloa (the polls were favourable to them at the time) have applauded with the same intensity another leader who emerged from a fratricidal internal crisis that was hardly exemplary. A crisis with a few victims (Casado and his few loyalists) that has weakened the party, several of its leaders…

OFICINA Empleo Spain

Spanish economy 4th April 2022

Unemployment Fell By 2,921 People Last Month, The Worst Month Of March In The Historical Series; Permanent Contracts Increased

The number of unemployed registered in the offices of the public employment services fell by 2,921 in March (-0.09%), twenty times fewer than in the same month of 2021, when the number fell by 59,149 people. This year’s decline is the smallest in the historical series, since 1996. Until now, it was that of 2013, when unemployment fell by 4,979 people. In seasonally adjusted terms, registered unemployment rose in March…

Garanti BBVA

Spanish economy 1st April 2022

Turkey Gives The Green Light To BBVA’s Takeover Bid For 50.15% Of Garanti

Turkey’s securities supervisor (Capital Markets Board) has authorised BBVA’s takeover bid for the 50.15% it does not own in Turkish subsidiary Garanti, the bank has informed the National Securities Market Commission (CNMV). The offer will begin on 4 April and end on 29 April. BBVA, which owns 49.85% of Garanti’s capital, announced the takeover bid in November last year. It made the offer at 12.20 Turkish liras per share, with…

pensioners

Spanish economy 31st March 2022

Brussels Pressures Spain To Decouple Pensions From The CPI

Brussels’ concern about the unsustainability of Spain’s pension reform is growing. This comes amidst spiralling inflation and at a time when it has to validate Minister Escrivá’s reform to authorise the transfer of 12 billion euros from the second tranche of the Recovery Plan. The government has yet to ask the European Commission for the payment of the second tranche of the Recovery Plan, the largest, almost 12 billion euros….