MADRID | March 9, 2015 | By Fernando G. Urbaneja | Martinsa-Fadesa is a paradigm of Spanish real estate disaster of the last decade, a company which became synonymous with Spain’s period of boom and bust, an exemplification of the evils of the time.
The Corner | March 6, 2015 | In yet more positive news for the Spanish economy, influential foundation FUNCAS has revised its growth projections upwards for 2015 to 3%. Increased consumption and an improvement in the construction sector are the chief reasons for the upward trend.
MADRID, February 20, 2015 | By Fernando G Urbaneja | The Government and Spanish companies are taking advantage of low interest rates as a means of reducing overall indebtedness.
MADRID, February 20, 2015 | The Corner | Non-performing loans in Spain continue to decline, with the total ratio of bad debts now standing at 12.5% of total outstanding loans. The figures represent the fourth consecutive decline in non-performing loans and now stand at the lowest level since September 2013. The figure is over 100bps less than the 13.6% recorded in December 2013, in spite of overall lending falling by -4.6%.
MADRID| The Corner | Yields on ten-year government bonds remain close to historically low levels.
MADRID, February 19, 2015 | The Corner | Vehicle registrations in January 2015 totaled 999,157 units in Europe, representing a rise of 6.7%. The figures point to a strengthening of the recovery in the automotive sector, with growth now recorded for seven consecutive months. The figures were buoyed by particularly strong performances in Spain and Italy, each of which posted double digit increases.
MADRID| Sean Duffy | Judge´s ruling piles pressure on former executives of Bankia, including former IMF Managing Director Rodrigo Rato.
MADRID| Sean Duffy| Spain has been trying to enhance the business climate for entrepreneurs, but experts say that more needs to be done to spur growth in vital sector of the economy.
MADRID | By JP Marín Arrese | Podemos, the brand-new radical movement, is capitalizing on corruption scandals and crisis side-effects to wreak havoc on traditional parties. The socialists are rapidly losing support while the former communists face utter implosion. Even the centre-right Partido Popular is losing its grip as Podemos promises to lure many of its disenchanted voters. Syriza’s victory is bolstering their chances of snatching a substantial representation in the upcoming regional and local poll and will likely hold a key position for the ensuing power-sharing. Much will depend on how wisely they use their strength to secure their ultimate goal of overhauling the current bi-partisan control in the general election due to take place at the end of the year.
MADRID |The Corner | Lending by Spanish banks to consumers is on the rise-albeit tentatively.