LONDON | Spanish president Mariano Rajoy stepped on to Downing Street but talked instead to the City of London. It will not be the last time that this happens. The shift in the UK’s relationship with most European Union country members should be a troubling sign of the declining power Whitehall and the Houses of Parliament retain amid one of the most crude economic downturns seen in some decades. Then…
By Fernando Gonzalez Urbaneja, in Madrid | Three decrees for the reform, restructuring and rescue of the Spanish financial system have passed and some voices at the Bank of Spain point out there might yet be a fourth one, if needed. Three plans for a sector which boasted of being the best in the world, and neither of all three have exactly been effective in restoring the credit market. The Socialists…
By Jacobo de Regoyos, in Brussels | José Sartorius Álvarez de Bohorques devotes most of his time to his role as a member of the European Economic and Social Committee. He was appointed by the Spanish Confederation of Employers’ Organizations CEOE and the Banking Association AEB. Are the Spanish entrepreneurs against the Tobin tax? Well, I have not met with all Spanish entrepreneurs, but the AEB and the CEOE are contrary to the Tobin…
By Jaime Malet | During the meetings that took place at the World Economic Forum summit, headed by the economic leaders of various countries, the main conclusion I reached was that the recipes expounded to attain competitiveness in the short term differed from one country to another, but that in the long term there were formulas which were shared by many. This caused me to reflect on the matter and try…
By Fernando Barciela, in Madrid | A small €24 million-turnover metal stamping company has become a €1.5 billion-turnover international corporation in 15 years. Its chairman Anton Pradera says that changing a company’s model isn’t difficult. Indeed. CIE Automotive sells 90% of its production outside Spain. Does this protect you from our domestic crisis? [Our emphasis.] That’s right. We are really happy now that we started our internationalisation at the very beginning of…
It provides trade credit insurance, surety and collections services, and has a presence through 160 offices in 42 countries. Atradius has access to credit information on 60 million companies worldwide and says that the consequences of a breakup of the Eurozone would be highly damaging for a country that leaves the euro as well for those that remain within the currency union. A breakup should therefore be perceived as highly…
