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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.

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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.

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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

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.


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…

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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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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…

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Is America Ready to Raise the Minimum Wage?

By Timothy Rich, Bridget Beavin, Ian Milden, Olivia Blackmon via Fair Observer | Since the federal mínimum wage was introduced in the United States in 1938, it has provided a level of security for workers to be able to afford a minimal living standard. However, the minimum wage of $7.25 an hour has not changed since 2009, the longest timespan without an increase in its history. Critics argue that $7.25…

Kristalina IMF

IMF Will Come To The Rescue

Many poor countries lost market access in the first half of 2020 with the arrival of the pandemic, forcing them into pro-cyclical austerity. Since then, and up to the end of last May, the IMF had provided unconditional financing to 78 countries to the tune of $109.6 billion. But the bulk of the assistance will come in August, when the IMF’s board of governors approves an allocation of $650 billion…