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BarMar

European economy, European politics 21st October 2022

Sánchez, Macron And Costa Agree To Bury Midcat And Replace It With “A Green Corridor” Between Barcelona And Marseille

Pedro Sánchez, Emmanuel Macron and António Costa (who, for Portugal, has also been part of the dialogue) have decided to discard the gas pipeline that had been proposed through the Pyrenees, the MidCat. They have agreed that a new project, BarMar, will replace it. This is an underwater gas (or hydro-product) pipeline that will link Barcelona and Marseille via the Mediterranean Sea bed. This solution, however, has its cost: the…

ejecutivos puente londres TC

European economy 21st October 2022

United Kingdom, A Broken Democracy

Fernando González Urbaneja | Brexit was about regaining control; that was the decisive message that led disoriented citizens to vote in favour of leaving the European Union. Six years later, what they have achieved, rather than regaining control, is to achieve “decontrol”. Three prime ministers in the course of 2022 is an unimaginable outcome for those who have studied and praised British democracy as an exemplary model based on good…

NataliaFabra 2

European economy, Interviews 19th October 2022

“Carbon Prices Are Having Perverse Effects”

Carlos Schwartz | Natalia Fabra is a director of Enagás and chair of the European programme “CURRENT TOOLS AND POLICY CHALLENGES IN ELECTRICITY MARKETS”. Q:There seems to be a shift in thinking about pricing mechanisms in the energy sector at the moment. A: Yes, it is part of the paradigm shift. It has been realised that, in the case of the electricity market, it is not correct to remunerate power…

Germany

European economy 14th October 2022

Only One in Three German Companies Has an Emergency Plan for Energy

ifo | Only just under one-third of German companies has an emergency plan for dealing with the energy crisis. This is the result of the new Randstad ifo Personnel Manager Survey of 700 HR managers. “The smaller the company, the less often measures were in place. Among companies with more than 500 employees, 60 percent have taken appropriate precautions. For companies with up to 50 employees, the figure is only…

eu human rights

European economy 7th October 2022

Calls Are Growing For A European Fiscal Programme

Santander | Calls are growing for a European fiscal programme. Financed by joint SURE-style emissions guaranteed by member states. In this case, to combat the energy and security crisis as proposed in their open letter by EC Commissioners for Economy and Home Affairs Gentiloni and Breton last Monday. Yesterday it was the turn of Von der Leyen, who called for the EU to seek other sources of funding to accelerate…

IAG

Companies, European economy, Ibex 5th October 2022

The Implementation Of Asymmetric Sustainable Policies In Europe Could Mean The Loss Of Up To 11 M Tourists And 450,000 Jobs

Link Securities | On Monday, Iberia (IAG) chairman Javier Sánchez-Prieto warned about the implementation of asymmetric sustainable policies in Europe, which could be a drag on Spain’s tourism business, the daily Expansion reported. Specifically this could mean the loss of up to 11 million tourists and 450,000 jobs, according to Deloitte. Imposing taxes on flights within the European Union (EU) would be prejudicial for those companies which operate in the…

Spain´s public deficit in 2017 was the highest in the EU

European economy 4th October 2022

The Cost Of New €IG Debt Has Increased By 344bp In 2022 to 4%; Almost Three Times Cost Of Existing Debt

Santander’s analysts explain that the primary is practically closed. The strong market volatility has been accompanied by an almost total closure of the European primary. With only €2.3 billion in the week and with little investor appetite, as orders barely covered the nominal amount of the issue (average b/c of 1.2x). Most of the issues were of a defensive nature, being covered bonds (€750mn) and senior IG debt (€1mm), while…

Italia Irlanda

European economy 28th September 2022

Italy Vs Ireland… For Whom The Bell Tolls

Miguel Navascués | Giorgia Meloni’s election victory is a new warning to the errors of European bureaucracy, to the stiff Commission, to the false and undemocratic Parliament, and to the no less disoriented European Central Bank. Italy is fed up. It is fed up with this Europe, it is fed up with the Euro (which, it thinks, prevents it from growing with dignity and makes it long for its Lira,…

PoundsTC

European economy 26th September 2022

Pound Plummets

Franco Macchiavelli (Activotrade) | During Monday’s Asian session, sterling experienced a flash crash with percentage falls not seen since Brexit. In just 20 minutes, sterling plunged to near parity with the dollar at the 1.03 level (Asian session lows), levels not seen since 1985. In addition to the sharp fall in the currency, bonds also experienced intense moves, with jumps of 50 basis points (the largest daily jump in UK…

Iberdrola

Companies, European economy, Ibex 22nd September 2022

Iberdrola, Acciona Energía, amongst favourites to play European energies theme

Morgan Stanley | Despite Gazprom cutting the gas supply via Nord Stream 1, Martijn Rats (our Commodities strategist) believes that rationing will not be necessary this winter. However he warns that Europe could enter winter 2022-24 with inventory levels which are too low. In response to this, the European Union has suggested introducing different measures: Limit the price of electricity for the “fixed cost” energy generators, 2. Limit the price…