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Spanish economy 21st June 2012

Anybody interested in Spanish coast bargains at 70% reduced prices?

By Álvaro Mohorte, in Valencia | www.valenciaplaza.com | Spanish banks have had enough of bricks and mortar, and urgently need to sell properties. Up until now, prices of many of the properties coming from developers as well as individuals have been kept over the market’s in order to protect the entitities’ balances, but requirements of further provisions have forced a strategy change. The goal is to get rid of thousands of flats, apartments…

Spanish economy 21st June 2012

Too much government staff? Not in Spain

NEW YORK | In the debate over austerity and government spending some throw the question of 'oversized administrations'. Are there too many government workers in Europe? And in the U.S.? Should the numbers be reduced? The Spanish Secretary of State for public administration Antonio Beteta has apologized to the unions for suggesting last week that workers should “forget about having their morning coffee break and reading the newspaper.” It has…

Spanish economy 19th June 2012

Forget banks and the deficit, Spain must cut down imports

how to get a ex back By Kike Vázquez | www.cotizalia.com | The crisis in Spain is not the consequence of unemployment or of the State deficit. It isn’t even due to the banking sector. These are just symptoms of the real cause. What is the underlying problem, then? In my opinion, it is one single variable: competitiveness. The fact of joining the euro meant a higher effort than expected…

Spanish economy 18th June 2012

Let’s escape the wreck and keep sailing

MADRID | “It is time to resort to the International Monetary Fund or the European rescue fund,” wrote in the January edition of Revista Consejeros Aristóbulo de Juan, former Bank of Spain's director general of inspection. Even Banco Santander's chairman Emilio Botín, who's always shown his antipathy to salvage competitors with his money or the taxpayers', acknowledged that the Spanish banking sector needed some €40 billion in European aid to…

Spanish economy 13th June 2012

Spain should seize the opportunity for reform, sovereignty is secondary

MADRID | You can fool someone for a long run. You may fool many people for a while. But you cannot pretend to fool everybody forever. Claims on Saturday that the deal only amounted to European lending for Spanish banks did not stand up to the week-end erosion. It was clear from the start that the money was to be channelled through a public body and fully covered by a…

Spanish economy 12th June 2012

“Non-bailed out Spanish banks are as sound as German, French entities”

MADRID | Just a few days before the partial rescue of the Spanish banking sector was announced, Amado Franco talked to journalist Carles Francino during an interview broadcast by SER. Franco is president at one of the largest and healthiest cajas or Spanish savings banks. He is 66 years old and has spent 42 working at Ibercaja. He has been auditor, branch manager, executive, CEO and President since 2004. Franco is a…

Spanish economy 11th June 2012

Frau Merkel’s not for turning, but neither seems to be Spain

LONDON | Germany finally met its match in Spain. And the outcome of the clash, as for Monday's market reaction, was unsurprisingly ugly, leaving the future of the euro project in deeper waters than ever before. Naysayers are meant to have a hard time running against the tide of general opinion, or so they were portrayed in the now past European political modern tradition. They were the protesters, the champions…

Spanish economy 11th June 2012

Spanish banks’ €100-billion lifeline: this is what we know so far

http://goexback.com/ How to win back your ex By Julia Pastor, in Madrid | Everyone's talking about it. The financial support demand or the bailout that Spain has requested from its European partners last weekend in order to, at last, recapitalise the country’s banking industry is admittedly one of the most significant episodes in Spain’s recent economic history. After the International Monetary Fund published on Saturday early in the morning its stability…

Spanish economy 8th June 2012

Leading Spanish retailer El Corte Inglés to cut food prices by 20%

By Julia Pastor, in Madrid.- El Corte Inglés, the well-known Spanish department stores brand has had no alternative but to cut its food, drugs and perfumery products prices by 20%. Since the crisis began, their most direct competitors in this segment, the Valencia-based supermarket Mercadona and the French chain Carrefour have entered into a price war in which the retail company was out by their own choice. Now things have…

Spanish economy 8th June 2012

If Spain goes, say adiós to the euro

What To Say Through Text To Get Your Ev Back By valenciaplaza.com, in Valencia | José Carrasco is private banking director at Banco Madrid in Valencia. Carrasco believes the European Central Bank buying Spanish bonds would reassure investors and negative headlines would then recede allowing foreign capital to go back to the country's market, where good value still abounds. What is your view on the European stock markets? With France…

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