J. L. M. Campuzano (Spanish Banking Association) |What is the main concern for Spain’s SMEs? The lack of clients. This is what they have revealed in the latest survey published by the ECB, covering the period from October 2016 to March 2017. And what about financing? It was once again the least of its worries, something which has been the case since the start of the year.
The PSOE, which governed during two terms of office with an atypical leader, Zapatero, is now so disorientated that it’s suffocating and looking to leftism for some air without any basis. It’s on the point of taking Pablo Iglesias’ bait, that a Grand Coalition against Rajoy is possible.
The Bank of Spain’s report on the financial and banking crisis in Spain has left the sensation that the institution, by action or by omission, has failed in its supervisory responsabilities and allowed practically all Spanish lenders to operate without any kind of control. The worst thing is that situation has continued. The bank has been the but of heavy criticism for how it acted with respect to Banco Popular’s resolution.
The main shortcoming of the Bank of Spain’s report on the Spanish banking crisis lies in its lack of a convincing analysis of the reasons why banks proved so vulnerable. It identifies their excessive exposure to residential mortgages, as well as their heavy reliance on external financing. But it fails to plainly set out what went wrong with the world’s financial sector.
The recent heatwave in Spain has sent the demand for electricity soaring. Last Friday, there was another record registered in electricity demand for this month of June.
Some things never seem to change and the Spanish left’s inability to unite against the right has looked like one of them. The two general elections and months of political paralysis Spain lived through between December 2015 and October 2016 saw the PSOE and Podemos locked in a battle for control of the left which turned poisonous at times and allowed the PP’s Mariano Rajoy to stay in power simply by doing what he does best – sitting back and watching.
Fernando Rodríguez | The suspension on short-selling in Liberbank, which the CNMV has enforced for a month, has not left stock market players indifferent. Experts, fund managers, traders, analysts and lawyers, traditionally opposed to interference in the workings of the capital markets, are doubtful about the reach of such an exceptional measure. At the same time, they support the usefulness of the short-sellers.
J.L.M. Campuzano (Spanish Banking Association) Data on the Spanish property market reveals the same trend as over the last few months: a moderate recovery in prices, at the same time as sales continue (adjusted for the 2016/2017 calendar difference with respect to Holy Week)
Of its total exports, Spain only sells 5% of high-technology products overseas, or 1.65% of GDP. The country needs to boost investment in high-tech goods and services.
Another solemn announcement by the Catalan government, another date for the diary. On October 1, the Catalan people will be asked to vote ‘yes’ or ‘no’ on the following question: “Do you want Catalonia to be an independent state in the form of a republic?”. The Catalan separatist camp, led by regional premier Carles Puigdemont, hopes for a victory that will then see the north-eastern region declare independence from Spain.