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Brazil

Brazil’s Vicious Cycle: Breaking Out Of It Will Be Hard To Do

Crédito y Caución | In March 2021, Brazil’s central bank started its rate hiking cycle. This has raised investors ́ concerns thatgovernment finances will deteriorate, as they are highly sensitive to shifts in interest rates.•Worries about the credibility of a constitutional spending ceiling, a key fiscal anchor, are adding to those concerns.•The risk of higher fiscal deficits and a depreciating currency have increased inflationary pressures, forcing thecentral bank to lift…


President Macron

French Republicans Do Macron A Favor

Nick Ottens (Atlantic Sentinel) | French Republicans have thrown away their two best chances of denying Emmanuel Macron a second term. Party members eliminated Michel Barnier and Xavier Bertrand from the center-right’s presidential primary on Thursday, giving the men 24 and 22 percent support, respectively. The more right-wing Éric Ciotti and Valérie Pécresse qualified for the runoff on Saturday. Neither polls well against the president. Besting Macron Bertrand, the conservative…


Iberdrola Avangrid

Iberdrola is hitting problems with its acquisition of PNM in the US

Renta 4 | According to the press, 3 of the 5 members of the public regulation commission of New Mexico have agreed with the examiner’s conclusion recommending not to accept the deal, because the potential damages outweigh the benefits. Concern has been expressed over possible conflicts of interest, ethical issues and Avangrid’s poor track record with the public services in the north east of the country. Avangrid is Iberdrola’s subsidiary…


The weight of investment in intangible assets draws attention in modern world

Digital Asset Networks Are Like Train Lines

Digital asset networks are like railway lines. They share the same need for interoperability and developers are working on solutions. The networks that are able to create ‘bridges’ and ‘speak’ to one another will ultimately deliver greater utility to their users – and thus create greater value.


USA reflation

US Inflation Stays Put

Fernando González Urbaneja | The thesis defended by the US Treasury and the Fed that the upturn in inflation this year will be temporary is losing momentum by the week. The latest data for October brings the year-on-year rate to 6.2%, a figure that has not been seen for the last thirty years. What is more worrying is that core inflation, excluding energy and unprocessed foods, is above 5%. It…


germany floods

Extreme Weather Events In Europe Caused An Estimated Economic Cost Of 446 € Bn (3% Of GDP In 2019)

This week, awareness of climate change and its consequences hits harder than ever before thanks to COP26. While European countries have arguably started to take climate considerations into account in their budgets, there is still a long way to go. Here is an interesting analysis by the rating agency Scope on the costs and consequences of climate change for countries, their economies and their sovereign ratings, including Spain.


Elorza

Odón’s Conscience

Fernando González Urbaneja | Odón Elorza, socialist deputy and professional politician (councillor at the age of 24 and later mayor and deputy) gave his opinion on the unsuitability of one of the candidates for the Constitutional Court before the congressional appointments committee. An opinion that is quite widespread in public opinion; for example, in almost all national newspapers. What Mr Elorza maintains is well-founded, he says what he thinks and,…


tasa tobin ibex35

Spain’s Treasury Collects €209 M Up To September Of The €850 M Expected For The ‘Tobin Tax’

This figure means 24.5% of the €850 M expected to be collected by the government for the whole year, i.e. a quarter of the estimate for the whole of 2021, reported agency Europa Press. On the other hand, in the first half of the year, Spain has received 93 million euros from the first settlement of the Tax on Certain Digital Services, known as the ‘Google tax’, of the 968 million euros expected for this year.


paro empleo

Repeal Of Labour Reform, Mere Appearances

Fernando González Urbaneja | Pedro Sánchez has promised in some ad hoc forums to repeal the labour reform, although in other forums he has argued the opposite in order to point to a revision of the Workers’ Statute taking into account the new labour frameworks of the 21st century.


Spain Catalonia

What Catalans Think

Fernando González Urbaneja | The latest poll published by La Vanguardia shows 39% of Catalans in favour of independence and 53% against. With these figures, it is understandable that ERC is opting for the slow road, to continue to stir up public opinion in order to achieve its goal, to reach its Ithaca. There was also a question on the language spoken at home: Spanish 41%; Catalan 29%; indistinct 30%. Everyone will draw their own conclusions, but the claim that Catalan society is unanimous or clearly in favour of the “indepes” proposals does not enjoy sufficient support. Conllevanza rather than coexistence.