Articles by The Corner

About the Author

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.
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Morgan Stanley: “French, Italian banks lead ECB lending demand”

The Spanish investment website Consenso del Mercado published on Friday this revealing note and table from Morgan Stanley about the ECB loans. “The deterioration of the euro zone crisis makes very difficult the necessary deleveraging process, which is estimated at €1.5 to 2.5tr during the next 18-24 months. The ECB lendings have reached two-year record highs with French and Italian banks being the ones that increased their demand the most. “Limited…


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Adform opens shop in Spain after Italian job pays off

Defying the financial storm over the Club Med, Danish medium-sized online company Adform has now opened a branch in Spain. After it began serving the Italian market less than 10 months ago, Adform says it has experienced substantial growth or strong enough as to drive the firm to Southern Europe. Adform delivers campaigns for over 2,750 clients across 4,925 global web publishers in more than 25 countries worldwide. The company attributes its…



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CER: “creditor core euro countries shouldn’t be absolved”

By Julia Pastor, in Madrid | British pro-Europe think tank Centre for European Reform (CER) has published a study in which they assure that the debt crisis is not only the peripheral countries’ fault, the so called Club Med, but also a consequence of core countries’s, such as Germany, economic practices. The essay by experts Simon Tilford and Philip Whyte, is entlited  “Why stricter rules threaten the eurozone.” “The interpretation…



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Spain in better shape than Germany, according to Der Spiegel

The newspaper El Economista alluded in its Wednesday edition to an article appeared in the magazine Der Spiegel, in which the German publication criticises the German government “because it likes to pride itself of its solid finances, when Germany’s budget management is not exemplary and the national debt could be above the EU limit.” These are some of the most direct statements made in Der Spiegel to chancellor Angela Merkel:…


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Barclays: “Those who believe Spain is highly leveraged should think twice”

MADRID | On Wednesday, the markets gave some credence to the possibility of reviving the Eurobond, but once again this option ended up hitting what Barclays describes (our emphasis) as “the wall which Merkel and Germany have turned themselves into. It is clear that in order to launch a Eurobond, the governance system in the euro zone has to improve, and not only that, it will also need a reform…



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Ferrovial Investor’s Day: “Visibility for the service business can rise hidden value”

Ferrovial held its Investor’s day on Tuesday in London. The event focused its attention on the Spanish firm’s services division (Amey, Cespa and Ferroser). Ahorro Corporación Financiera’s (ACF) analysts expect that Ferrovial will give more visibility to the services business, since “it could surface some hidden value in this unit or even generate new share price catalysts”. Experts argue that “after Swissport and Tubelines sale, 60% of the services’ EBITDA…


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Clouds over France

France’s economy is coming to a standstill. The Conference Board Leading Economic Index (LEI) for France declined 0.6 percent in September to 112.8 (taking 2004 as benchmark), following a 0.5 percent decline in August, and a 0.3 percent decline in July. The Conference Board Coincident Economic Index (CEI) for France, a measure of current economic activity, though, was unchanged in September at 105.6, following a 0.1 percent increase in August, and a 0.1 percent…