MADRID | By Luis Alcaide, Luis Martí and Jaime Santisteban | Deputy Director General at the European Union’s Financial Services Nadia Calviño considers that the EBA must keep playing an important role in the coordination of the financial supervision. She believes that transparency is a key issue that must prevail within the process of the European integration in the Eurozone.
MADRID | By Jaime Santisteban | Markets consolidate advances reached yesterday and Wall Street endeavours to awaken from its slumber with an increase of about 1%. No earthquake in sight, provided that sanctions for Russia remain light. America didn’t disappoint: industrial production grew in February by 0.6 %. In Spain, Sacyr will continue to celebrate the agreement to conclude the works of the Panama Canal and Jazztel benefits from the Vodafone-ONO operation.
ATHENS | Yanis Varoufakis via TrumanFactor | Why an independent Scotland should get out of sterling, but Greece should not volunteer to exit the Eurozone? Scotland should state its intention to decouple from sterling, once independent, rather than petitioning for a continuation of its subservient role in an asymmetrical sterling union. But if this is good advice for Scotland, why am I arguing that Greece should not sever its links with the even more odious monetary union known as the Eurozone? Unless the two cases differ, my argument lacks consistency. But they do differ. Fundamentally too.
MADRID | By Jaime Santisteban | “Let’s wait and see but time is running out,” Bankinter analysts weigh in. This week is meant to be decisive for markets and the global economy with the Ukraine-Crimea-Moscow saga and China overshadowing the rest of the news.
MADRID | By The Corner Team | Spanish real state sector stands at its adjustment final stage is an oft-repeated mantra in the country’s analysts firms. After five years of hard recession, some signs of slow recovery are increasingly growing. Last outstanding figure is year-on-year upturn of +59.2% in properties’ selling and buying in January, as reported by Spain’s General Council of Notaries. National housing market would become an attractive investment opportunity again in 2014.
WASHINGTON | By Pablo Pardo | Does anybody remember where the Standard and Poor’s 500 Index was five years ago? At 666. Since then, the S&P 500 has gone up a whopping 175 percent. The market has defied fiscal cliffs, Republican obstructionism, three rounds of Quantitative Easing, the start of the Fed’s ‘tapering’, the change in Chinese leadership, the euro near-collapse, a nuclear catastrophe in Japan, a wave of revolutions in the Middle East, and even a Russian invasion of Crimea.
MADRID | By Jaime Santisteban | It could be a big deal. The Spanish government has to evaluate a comprehensive report on the tax system reforms handed by an experts’ comittee “We have spared no one,” they’ve said. Will this really boost simplicity and efficiency? Market makers await further details about where the government stands on each proposal. Besides, focus remains in Ukraine ans the polemic referendum in Crimea, and in China, whose PM announced that more defaults are coming.
MADRID | By Jaime Santisteban | BBVA takes a look on the bright side of the Spanish economy in 1Q14: growth, exports, domestic demand, labor market, public spending reduction. Santander urges the EU to hasten arrangements on SRM to meet Banking Union agenda. Otherwise, stress tests won’t have credibility.
MADRID | By Álex García.
MADRID | By Francisco López | The climbing of euro against U.S. dollar is increasingly worrying market strategists as it can affect negatively prices and loss of competitiviness in the euro zone. Conversely to the ECB, which has decided not to intervene exchange rate. “It is out of our mandate,” Draghi assured last Thursday, “unless it damages prices’ stability expectations or economy growth.”