The IMF gave a pat on Spain’s back on Wednesday. Although recovery is not at full speed, the country has made “important progress” in reforming the financial sector and will come out of recession in 2014 with a 1 per cent growth.
The region is determined to be recognised, and treated, as a nation. Sadly, Catalans appear incapable of shouldering the bill that comes attached to it.
A recent study shows the internal correction over the industrial sector has accelerated, and it could be taken as proof that Spain is fast leaving its housing bubble behind.
MADRID | By Tania Suárez | Analysts in Madrid think Spain’s risk premium is too high for the government to escape the fate of Ireland or Portugal. “Some sort of bailout” will be necessary before the end of next year.
MADRID | The Spanish government faces an uncomfortable dichotomy, says Carlos Díaz Güell: it either prolongs the fiscal measures taken in 2011 or lets the public deficit grow even further.
MADRID | Carlos Díaz Güell draws a guide to understand the current situation of financial and credit institutions in Spain, and what can happen next.
Madrid is confident that external trade almost alone can make the economy to revive. In truth, the Spanish economy is adjusting. It is fair to say that Spain still has economic muscle, but the real picture isn’t good unless credit flows again.
Over the last month, unemployment in Catalonia grew by 2.19%, while a year ago, in October 2011, it grew by 2.43%.
MADRID | Dumping damaged assets at a price much below accounting value and cumulated provisions will entail large own resources imbalances for the banks taking part in the Sareb bank. JP Marín Arrese is sorry for taxpayers.
The capital requirements of each institution have now been published, but non-performing loans continue to increase sharply. Nevertheless, CaixaBank analysts indicate, the fall in deposits of firms and households is partly due to issuances of commercial paper with more attractive, higher returns.