Latest data on foreign tourist numbers bring some degree of relief to an economically hurting Spain. Levels of visits have this summer approached 2007 figures. Madrid must apply VAT increases with care on the sector.
In the Apple-Samsung battle, there might be an element missing from the iPhone creator that it could borrow from its counterpart: humour.
The French PMI fell by almost four points while Germany’s expanded. That’s bad news for the euro zone, whose core is in for trouble as an isolated German engine cannot pull its neighbours out of recession.
While national identity tensions belong to an ongoing debate, the fiscal irritation that Catalonia feels can be easily soothed. Madrid must offer a fairer treatment to a region whose economic output sets the best hopes for Spain to exit the crisis.
From London to Madrid, analysts find there could be a slim chance of Spain avoiding a national rescue. Risk agency S&P agrees. As financial conditions improve for the country, though, bond auctions give only some extra time but not definitive solutions.
The recessions in the periphery of the euro zone are likely to affect GDP growth expectations for the entire monetary union, at least, during the rest of the year.
The set up of the Banking Union in the European Union has not only triggered the habitual complaints from the UK and Sweden. Even core euro zone looks divided. And it all adds pressure for Spain to require a national bailout.
MADRID | Data from the latest bond issuances by Spanish corporates show non-resident investors have returned to this market with growing appetite. The new-found confidence comes supported by the European Central Bank monetary policies.
Capital gains taxes in Spain will increase next year, with individual investors as the likeliest victims. The measure could be the Rajoy government’s attempt to re-direct personal capital flows towards other sections.
LONDON | Something had to be done to support the euro. But some in the City still see the European Central Bank excessively scared of inflation. Past cash injections, though, have depreciated the common currency very little.