MADRID | By Julia Pastor | Small and medium size companies are the most vulnerable side of the European economy, but also the most powerful weapon to get out of the crisis. Germany will develop a €10 billion credit plan to move peripheral countries SMEs for their own export engine works.
MADRID | The new antifraud law in Spain is bringing surprises on the table: more than 130,000 tax payers have declared assets held in foreign countries with an estimated total value of 87.7 billion euros, more than the double of what Spanish Treasury estimated. The penalty is 150% of the tax due.
MADRID | By Alfredo Pastor, for lavanguardia.com | The main surprise about Spain is the size and speed of our external adjustment. Fiscal adjustment and the good behaviour of exports are also two positive surprises. Citizen solidarity helps counteract the grave effects of the crisis.
MADRID | By José Luis Marco at Capitalmadrid |The Bank of Spain considers that liquidity is no longer a problem and detects a greater international confidence on the country’s financial groups.
NEW YORK | Several of the top Spanish companies put on a big show this Friday at New York’s Nasdaq. Telefonica, Indra, Dragados, Santander, Iberia, Repsol and many more shared their perspectives at the Spanish Economic Forum in order to boost their image among American investors and break some stereotypes. But how much do these iniciatives help to build real muscle? On the to do’s list: showing more optimism and sharing the cake with the start-ups.
MADRID | By Carlos Díaz Guell | The Spanish government has already made clear to the regional authorities that the old savings bank model must die for its sins.
VALENCIA | María Costa at Valencia Plaza | Publicity has been hit by the crisis, but at least online advertising is expected to perform better than the others. Economist and communication expert Jesús Vallejo, is the head of Valencia advertising agency Havas Media Levante. They have bet on the digital sector, although the first quarter of 2013 it went 5% down compared to the same period of 2012. Mr Vallejo explains why the Internet can bring some hope to advertising in Spain.
MADRID | The 6.2 million of unemployed is brutal, anomalous, and lacks explanatory references among countries with quite similar structures.
MADRID | Capital Madrid | The Spanish savings banks or cajas, unlisted entities often linked to the country’s regions, have come under intense scrutiny since the beginning of the crisis, as some became associated with the worst excesses of the banking sector. But they have already started a restructuring process: by 2015 they will be 35% smaller.
What is threatening the Spanish pension system, Francisco Martín Seco says, is not a longer life expectancy or the population pyramid but policies that drive the entire economy into a permanent recession, like reforms to make the tax system more regressive.