In Europe

Chancellor Merkel

Bail-in ring-fences German taxpayers

MADRID | Being a policy issue prominently underlined in all main German parties’ manifestos, the full safeguard bank creditors have enjoyed under past bail-out schemes seems doomed in future.

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Münchau’s hazardous panic game

MADRID | By Javier Arce, editor at Revista Consejeros | Commentary scaring savers–whether in Cyprus, Spain, Italy or France–smells of negligence at the very least. In Spain, where we had to face capital outflows of over €200 billion in 2012, we are particularly aware of it.


Twitter’s bird makes its nest in Spain

Like other American tech giants such as Facebook, Google or Microsoft, Spain is the new gate for Twitter’s international expansion… although all of them go to Ireland to pay taxes.

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France’s German Mirror

Project Syndicate | By In the mirror of Germany, the French must ask themselves fundamental questions. Have they made the right choices in terms of leaders and policies in recent decades?


IIF: “The era of European solidarity is over”

WASHINGTON | “Investors would be well advised to see the outcome of Cyprus both as a reflection of how future stresses will be handled, and a reminder that efforts to shift the liabilities associated with legacy bad bank assets.”


Uneven fiscal consolidation in the eurozone

BARCELONA | By CaixaBank analysts | It is expected that, in some cases such as Spain or France, the European Commission will ease the extent of fiscal consolidation required over the coming years.

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Not your fault, Cypriots? | By  | Greedy banks, the EU or Angela Merkel: The search for the culprit in Cyprus is running along the usual fault lines of the euro crisis. But do individuals not share in the responsibility for the mistakes of their society? That would mean the Cypriots would have to give up some of their savings deposits.