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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.
No Picture

In Europe 27th February 2014

Greece, the troika and banks’ capital needs: A step-by-step guide

ATHENS | Op-ed by MacroPolis | [NOTE FROM THE EDITOR: This article was published ahead of Troika officials’ meeting with Bank of Greece (BoG) governor Giorgos Provopoulos on Wednesday]. As local lenders’ capital needs have shot to the top of the agenda in the current round of talks between Greece and its lenders and ahead of the troika’s arrival on Monday, it had been widely reported that Greek banks would need no more than 6 billion euros. However, there is now speculation that the troika believes this figure will be much higher. Here is our take on how this disagreement came about and what the outcome might be.

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In Europe 27th February 2014

The EU Youth Guarantee: A “Lost Generation”?

Youth unemployment in the EU has now reached an average rise of 23.5%. More specifically, there has been an increase of the “NEETs,” young people who are not in employment, education or training to 14 million young Europeans. As a new targeted policy, the European Council endorsed the principle of the Youth Guarantee in June 2013, an  scheme  to offer all young people up to the age of 25 a good quality employment opportunity, continued education, an apprenticeship or a traineeship within four months of leaving their formal education or becoming unemployed. The Youth Guarantee is based on the model of earlier national plans that were successfully implemented in Scandinavian countries, Germany, Austria, the Netherlands and Poland.

US pensions

World economy 27th February 2014

The Political Underbelly of U.S. Pensions Crisis

NEW YORK | By Robert Johnson via Next New Deal | The pensions crisis has far-reaching implications for the future of the U.S. economy: the state and local government sector is about 14 percent of the American workforce. What broke the system, and how do we fix it? Beyond the economic crisis, which put enormous pressure on state and municipal budgets, poor decision-making and the influence of big money interests has led to the underfunding of some state and city public pensions.

Lesser Flamingo

In Europe 26th February 2014

Are Europeans Closing their Borders?

PARIS | By Jean Pisani-Ferry via Caixin | Europe needs migration much more than at any time in recent decades, but has never given a clear answer to how it feels about the issue.

No Picture

In Europe 26th February 2014

Spain’s new jobs to have a €100 flat rate on social contributions

MADRID | By Francisco López | PM Mariano Rajoy’ leading measures to push up Spanish economy in 2014 include a €100 flat rate for social security contributions of new jobs as well as a tax cut that can benefit 12 million of workers. While the first initiative intends to foster permanent contracts more than alleviate companies’ tax charges, the second is not very clear since we don’t really know how many employees will benefit from it. Also, the next fiscal reform could change tax structure completely.

promo2 bayford parts 250913

World economy 25th February 2014

Mexico: When The Car Industry Is An All-In

MEXICO CITY | By David Brunat | It’s crystal clear: the automotive industry is going to drive the Mexican economy soon, says the country’s Automotive Industry Association AMIA, who predicts that in 5 years they will be producing 4 million units -and replace Japan as the second-largest exporter of cars to the United States.

No Picture

World economy 25th February 2014

Why are we afraid of lobbies?

MADRID | By Laura Alcaide (Guest post) | Spaniards, and Europeans in general, are reluctant to let lobbies participate in the political arena. Although it is true that these powerful groups can move the threads behind the scenes, as it happens with many industries in Washington, they can also make consumers’ voices heard and help citizens to fight nepotism and corruption.

No Picture

In Europe 25th February 2014

What lies at the heart of differences over Greek banks’ capital needs?

ATHENS | By MacroPolis | Following a meeting last week between Bank of Greece (BoG) senior officials with the top management of the four Greek systemic banks (Alpha, Eurobank, National and Piraeus), where the central bank reportedly informed lenders that their capital needs amount to around 5 billion euros, a Financial Times report published on Monday puts things in a completely different perspective.