Will China’s new faces face reality?
Iris Mir | Beyond who will be leading the country, there’s still a pending issue: How will they rule it. If prosperity have been attained, as numbers show, why not embracing political reform?, wonders Iris Mir.
Markets
Irish bank obtains market access with some German, Austrian help
LONDON | In spite of bad economic figures for the euro zone, more peripheral banks may be enjoying access again to wholesome market credit. Spain continues under the spotlight, though, and the situation could become rather difficult.
The Spanish rescue can wait
Madrid has many reasons to remain cautious on the merits of embarking itself on a no-return ticket to euro-assistance. It doesn’t know for sure the price to pay and the concrete benefits to be reaped.
Unregulated green energy subsidies in the EU may come under scrutiny
Renewable energy subsidies could come under revision, as members of the European Commission have criticised their proliferation and lack of clear rules in the sector. Recent studies have noted the impact is increasing over the electricity industry.
Why Draghi must free the ECB from its Trichet past
Economist Luis Arroyo reminds ECB governor Mario Draghi of his predecessor’s mistakes in blindly fighting inflation when it was economic growth what was, and still is, at stake.
Investors confident ECB will become euro zone banks’ supervisor, says Fitch survey
79% of survey respondents expect the European Central Bank will supervise all euro zone banks, in line with the European Commission’s legislative proposal for a single watchdog.
The European Central Bank temporarily relieves tension
The prime ministers of France and Portugal announce further adjustments for 2013, as Spain did before. But, analysts at CaixaBank note, the lack of detail isn’t encouraging for investors or other euro zone partners, despite the support the ECB promises.
Pescanova, Vidrala top market consensus recommendation
Fresh data from the stock market in Madrid: the average recommendation is of 2.72 points, slightly less buy-prone than last month and the end of year.
Brussels poised to axe Spanish ailing banks
MADRID | For all the efforts they undertake to reinforce their solvency and profitability, troubled banks are not likely to survive unless they merge into solid groups. But economist JP Marín Arrese wonders if public money to maintain them artificially alive should not be entitled to a better use.
Spain up in Stanley Morgan’s top five picks
Spanish current account data gives signs of economic strength, but the global economy suffers from too much weak activity, a clear threat to Madrid’s reform efforts. Talk of bailout will not go away any time soon.