Botín, the FT and the age limit for bankers
MADRID | By Carlos Díaz Guell | “The FT’s addiction for obsessive and empty criticism over most euro periphery and particularly Spanish matters is getting boring but, nevertheless, worrying.”
Markets
The Monte dei Paschi effect
The contagion chain between Italy and Spain in the troubled eurozone’s periphery seems to have left Madrid virtually untouched.
Playing with fire leads to the US blaze
MADRID | In a year where most developed economies are engaged in austerity packages, contagion from a weakened US economy poses a real problem.
European real estate could see price recovery despite periphery divide
Amid the generally gloomy economic statistics, however, and much to many commentators’ surprise, there is a whiff of optimism in the air in Europe that could prop up the European real estate markets.
US banks must be kidding the EU
The Worden Report | Expertise in reducing the tax US banks pay in Europe does not make up for the greater ineptitude at those banks, so there is a significant possibility that they will go under.
Spain’s SME credit agency ICO opens year with €1 billion bond sale
The ICO debt sale was further confirmation that investors’ fears have abated, as the Spanish government said it had already assured almost 9.5 percent of all market credit needed in 2013–that is €11.4 billion.
Bloomberg faces legal action by Spain’s Finance ministry over online gaming report
The Spanish ministry of Finance announced Thursday it was taking legal action against Bloomberg. The news agency published a feature about the government tax department forcing foreign companies to make payments to bid for online gaming licenses, and other irregularities.
Spain’s BBVA to invest $100 million in banking innovation
BBVA announced the formation of BBVA Ventures, a strategic initiative that will invest $100 million in startups looking to transform the financial services industry. Through this effort, BBVA will work with entrepreneurs and venture capital investors to broaden the bank’s understanding of emerging trends, helping advance innovative initiatives in banking and finance.
Investors begin to see Spain out of the woods
In an investor note on Wednesday, BNP Paribas said it forecasts a premium risk for Spain under 350 basis points and a prolongation of the average life of the government debt–that is, more time to pay back.
“The Spanish risk premium may go below 250 basis points before the end of 2013”
MADRID | By Tania Suárez | Daniel Álvarez is analyst at XTB. In a conversation with The Corner, he forecast a “positive scenario” in which “the Spanish risk premium may go even below 250 basis points before the end of the year.” Also, he claimed, “if Europe does its homework, the eurozone markets will become a very good investment opportunity.”