The capital hikes carried out by Spanish companies totalled 4.114,7 billion euros in September, almost four times more than a year earlier and the highest figure in that month since 2012. This is according to data analysed by the Economic Studies Department of rating agency Axesor.
Financial institutions, companies and households have continued to adjust the debt accumulated in the first half of the year. In the case of non-financial companies and households, their level of debt is increasingly closer to the European average, against a backdrop of greater economic growth and preference for home ownership.
Catalan leader Carles Puigdemont had until 10 am on Monday 16 October to clarify whether he has declared independence or not. As was widely expected, he answered PM Mariano Rajoy in an ambiguous way, with neither a clear yes nor a no. He has until Thursday at 10 am to avoid the government applying article 155 of the Constitution.
In Spain banks stocks, particularly Santander, play an unusually important role in driving the index Ibex35.To understand the prospects for the Spanish banks (and ipso facto, the overall index), it is crucial to have a handle on the health of the domestic real estate market,” confirms Goldman Sacha experts.
We have reached the next stage in the Catalan crisis. Rajoy’s government – with the agreement of Pedro Sánchez and the Cs – has requested that Catalan president Puigdemont clarifies whether or not there has been a declaration of independence. Otherwise, article 155 of the Constitution will be implemented, implying a limitation on the region’s autonomy. Against this backdrop, Spaniards’ confidence is being eroded.
In a surprisingly statesman-like manner, Carles Puigdemont performed a balancing act in respecting the referendum result, safeguarding his support from the independence movement, and avoiding total escalation with Spain.
After confusing messages from Catalan government about yesterday unilateral but at the same time suspended independence declaration, the Spanish PM Rajoy has decided to trigger Article 155 which will be used to suspend the regional administration and take direct control of Catalonia.
A few days ago, a week ago, the unilateral and seditious declaration of independence in Catalonia seemed to be on the cards, almost inevitable in fact. But the King’s speech last Tuesday and the demonstrations in Barcelona and other cities involving both Spaniards and Catalans have changed the dynamic of the process.
Since the segregation process in Catalonia began, one got the feeling that it would be a serious risk to our country’s economic stability. Spain would pay a high price for the loss of its main economic region, which accounts for about 20% of GDP.
The Catalan government and its parliamentary majority have gone the whole hog to achieve their final objective: a unilateral declaration of independence which brings the Spanish government to their knees to accept their requests with very favourable conditions to construct this new state, whatever it takes.