MADRID | More than 200 businesses in Spain fight back the crisis with at least 20 percent growth rates since 2008. The majority are based in Catalonia and Valencia, with a turnover of between €2 million and €10 million.
The country resists. During the last three years, exports grew at almost the same pace than North America’s, around a 20%.
Are we witnessing a real improvement in Spain’s performance? Some key data point in the right direction. Relentless efforts to streamline public finances are paying off.
VALENCIA | By Jaume I University professor Manuel Illueca | Public entities are convenient at some times, when credit is unavailable, but they cannot turn once more into financial institutions separated from economics logic or into rogue organisations.
“The Spanish trade balance shows that Spanish companies have the capacity to find alternative markets when the usual domestic clients slow down their demand,” Bankia Bolsa explained in a report.
Spanish Minister of Economy Luis de Guindos gave some hope on Tuesday to the 80,000 Bankia customers stuck on preferred shares and subordinated debt: an arbitration process will be in place in those cases where there had been bad practice. Two other nationalized banks (Novagalicia Banco and Catalunya Banc) are using the same procedure so their clients will be able to get back at least 60% of their money.
MADRID | Catalonia’s economy might head for rough times as investors flee from political uncertainty and the danger extremists might take over. CiU leader Artur Mas is heading for disaster.
MADRID | By Carlos Díaz Guell | There are more than 27 million homes in Spain and some 50 percent date back 30 years, and 50 years in a fifth of the housing stock.
MADRID | The Spanish government is still in negotiations with both CECA and AEB, and the housing industry, in order to fulfil an official decree whose aim is the protection of vulnerable insolvent mortgage debtors.
MADRID | By José Hervás, Capital Madrid | Basel III in Spain will close 10 bank offices a day over the next three years to have between 25,000 to 30,000 offices in total.