Top Stories

In Spain

autonomous regions

Spanish economy 13th September 2021

Spanish Regions Ahead Of Central Government In ESG-Linked Bonds Funding

Last week the Spanish Treasury made its debut in green debt issuance. However, the autonomous communities are ahead of the pack. As told in an analyis of Scope Ratings, sovereign lending became the primary funding source for Spanish regions as the euro area debt crisis hampered access to capital markets. Madrid, the Basque Country and Andalusia have come to market this year, raising so far an aggregate 3.5 Bn euros in ESG-linked bond.

wholeshale electricity market

Spanish economy 10th September 2021

The Spanish Electricity Sector Reform Will Force Large Utilities To Auction Part Of Their Energy Out Of The Pool

The price of electricity in Spain once again break through the historical maximum yesterday and exceedeed 150 euros for the first time in history. In order to cushion the impact of these soaring prices on electricity bills, the government is preparing a shock plan whose main measure will force the major electricity companies (Iberdrola, Endesa, Naturgy and EDP) to auction energy among retailers and industrial companies.

PabloCasado

Spanish Politics 9th September 2021

All-Or-Nothing Politics

Fernando González Urbaneja | Politics is the art of the possible; democracy requires mediation, containment, explanation, persuasion, convincing… None of this characterises Spanish politics, which are sliding towards the opposite, towards the impossible, towards exaggeration, simplification and polarisation. Politics based on brinkmanship (all or nothing) instead of pragmatic possibilism, gradualism, is heading for failure. The PP requires the PSOE (Casado to Sánchez) with non-negotiable demands to renew the institutions. And…

BonosVerdes 3

Spanish economy 9th September 2021

Spain Joins The Club Of Sovereign Green Bond Issuers

Fernando Rodríguez | The Spanish government has issued its first green bond for 5 billion euros, as part of a sustainable financing programme which the latest Treasury’s estimates amounted to 20 billion euros. The funds will be used to finance projects which promote the ecological transition. They are aimed at mitigating and adapting to climate change, the sustainable use and protection of water and sea resources, the transition to a…

Just Sanchez

Spanish economy 7th September 2021

Delivering A Fair Recovery

JP Marín-Arrese | The Spanish PM Sánchez seeks to regain his dwindling popular support after the crushing defeat in Madrid’s regional elections back in May. At mid-term, he discovered, much to his surprise, the cost of enforcing long-lasting restrictions to overcome the pandemic. The Opposition took advantage of the people’s weariness and fear of lay-offs. His initial steps to stage a large-scale inclusive revolution either faded away or didn’t pay…

ibex chulisima

Spanish economy 7th September 2021

Shareholders Rejected Only Three Proposals From Ibex Companies At The 2021 AGMs

Fernando Rodríguez | Ibex 35 companies encountered symbolic opposition to their proposed resolutions at the shareholders’ meetings held this year, according to Georgeson’s annual report on the 2021 season. Only three companies saw an item on the agenda of their meetings held in 2021 defeated: Acerinox, in April, which failed to approve a debt issue for 600 million euros; Amadeus, which saw its remuneration report rejected with 61.48% of votes against; and IAG, which also failed to push through its proposal to reduce the deadline for convening extraordinary general meetings to 15 days.

CGPJ

Spanish Politics 6th September 2021

A Mediator For The General Council Of The Judiciary

Fernando González Urbaneja | In Europe we know of cases where governments have been blocked for up to a year or more and states have continued to function reasonably normally. The Netherlands, Belgium, Italy and even Germany have maintained deadlocks to form coalition governments for many months. The same happened in Spain during the electoral agony/anomaly of 2019, so we already have experience. But these difficulties being transferred from the…

spanish coast property

Spanish economy 6th September 2021

How Has The Slump In Foreign Tourism Affected The Residential Property Market?

Judit Montoriol-Garriga (CaixaBank Research)| There is no doubt that the pandemic severely affected the property market on the Mediterranean coast and islands throughout 2020 and the first few months of 2021. The slump in international tourism due to restrictions on travel and uncertainty regarding how the health and economic situation would develop have led to a significant decline in the number of foreigners buying residential properties in Spain, plummeting by…

socorro fernandez larrea 777x400 a

Interviews, Spanish economy 4th September 2021

“All Neighbouring Electricity Markets Have Been At Record Highs For Days. The Rules Are The Same Throughout Europe, And They Are Not Going To Change Them”

Almudena Díez | Red Electrica’s Director -Socorro Fernández Larrea- explains why the current price of electricity in Spain (140€ MW/h) has been at record highs for days: Q: How do you explain to consumers that the system can have such sharp fluctuations in the price of electricity that directly affect their pockets? A: Very easily, by telling the truth, if you like. The problem arises because the price of energy…