Spanish banks reduce their dependence on ECB’s funding
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.
Spanish economy
Spain Economic Forum in the US: start-ups also want a piece of the cake
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.
Burning politicians’ bridge to the Spanish savings banks
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.
Spain online advertising can bring hope to the sector
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.
Why is Spain’s unemployment rate so high?
MADRID | The 6.2 million of unemployed is brutal, anomalous, and lacks explanatory references among countries with quite similar structures.
Spain’s savings banks will suffer a 35% cut until 2015
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.
Don’t kill the Spanish pension system: it’s one of the cheapest!
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.
Only own goals in the Spain-Catalonia match
There is a mirroring effect in all these conflicts: Europeans appear unable to talk about the actual issues that trouble them, that is, debt and democracy.
Spain’s Mango increased turnover by 20%
BARCELONA | The Catalan clothing company Mango posted a €1.69 billion turnover for last year and plans expansion in Europe and Latin America.
Fitch says Spanish covered bonds unaffected by residual claims
LONDON | Fitch expects that the sector’s restructuring efforts fuel the higher level of consolidation seen since the reforms started last year.