The Basque region-based industries, like the automotive and aerospace, are global and cutting hedge. They export between 70% and 90% of their production, achieving surpluses for the region’s trade balance, of some 5 billion euros in one of the last few years.
If you’ve had trouble hailing a cab on the streets of Madrid, Barcelona or many other cities in Spain recently, there’s a good chance it was because of a taxi drivers’ strike. There have been a number of these in recent months, all with the same aim: to halt the expansion of ride-sharing firm Uber.
This week Spain ratified its free trade agreement with Canada, known as CETA (Canada-European Union Comprehensive Economic and Trade Agreement) in spite of the suprising abstention of PSOE. Spain’s trade relations with Canada date back to the XVI century.
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 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.
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.