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germany floods

European economy, Relevant News Item 6th November 2021

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

Relevant News Item 4th November 2021

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

Relevant News Item 2nd November 2021

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

Relevant News Item 25th October 2021

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

Relevant News Item, Spanish Politics 28th September 2021

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.

Christian Lindnerok

European economy, Relevant News Item 27th September 2021

Germany: Christian Lindner’s Liberals Hold The Key

Olaf Scholz, vice-chancellor and leader of the SPD, the German Social Democrats, won the German elections yesterday with 25.7% of the vote. He came in ahead of Armin Laschet, Merkel’s successor in the CDU, who won 24.1% of the vote. Annalena Baerbock’s Greens, with 14.8%, will be the third force, and have already shown their preference for a government with the SPD. But it is Christian Lindner’s Liberals, with 11.5%…

Today’s German election is likely to be one of the most open contests in decades

Relevant News Item 26th September 2021

Germany After Merkel: What’s Next?

Azad Zangana (Schroders) | Today’s is a major milestone election for Germany, and many will be keeping a close eye on the outcome. In any case, though we should see the results soon, negotiations to form the next coalition are likely to take several months given the potential wide range of combinations on offer. The new chancellor may not be inaugurated before 2022.

ElectricityTC

Relevant News Item 1st September 2021

How Much Will The Electricity “Carajal” Cost The State?

Fernando González Urbaneja | In colloquial language, the word “carajal” is understood as a synthesis of a mess, a tangle, confusion: all in one. And there is no better definition for the issue of electricity prices. This is occupying the media so much that they are unable to explain the reality. In turn, this is worrying the government so much that it is afraid it has stepped on a mine…

chair powell

Relevant News Item 29th August 2021

Unwinding QE More Difficult Than Expected

J.P. Marín Arrese | Jay Powell was crystal clear in Jackson Hole about his willingness to scale down QE starting by the year close. As the US economy is recovering at full steam and prices skyrocket to a 13-year record, the idea that  monetary policy will soon switch from the current over-loose stance to a more neutral one is hardly surprising. His message even sounded dovish as he cautioned against rushing into fighting inflation. He considered its current upsurge temporary, however, dismissing this upsurge might poise an…

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Relevant News Item 16th August 2021

EU Urges All Major Economies To Increase Efforts To Combat Climate Change

Antoinette Tyller (European Views) | The EU is calling upon all major economies to increase efforts to combat climate change. The call came in a blog published today by High Representative of the EU for Foreign Affairs and Security Policy, Josep Borrell. The last weeks have seen a series of extreme weather events including severe flooding in Germany and Belgium, and wildfires in Greece, Turkey and Sicily where temperatures yesterday…