Search Results for ten lost months

A ‘Hot’ End To The Year In Spain: The Countryside, The Car Industry And Transport On The ‘Warpath’

The Government is facing a ‘hot’ end of the year in the face of demands being made by economic sectors as important to the Spanish economy as the countryside, the automotive industry and transport. They have already announced demonstrations in response to the problems their respective activities are going through. The Spanish economy is recovering the momentum it lost with the arrival of the pandemic. However, the global supply crisis…

unemployment spain

Repeal of Spanish Labor Reform Is Unwise

Nick Ottens (Atlantic Sentinel) | Spain’s ruling left-wing parties have agreed to reverse the labor market liberalizations of the previous conservative government, which made it easier for firms to hire and fire workers. The decision is hard to justify even by the standards set by proponents of repeal. The reforms did not create more precarious jobs, they did not cause higher structural unemployment and they barely made a dent in…

Catalonia independence declaration

Italy Arrests Puigdemont In Sardinia, A Fugitive From Justice Since 2017

Last night the Italian authorities arrested in Sardinia the former president of the Catalan Government Carles Puigdemont, a fugitive from justice since 2017. The Catalan leader, who as soon as he was arrested was taken to the police station at the city’s airport, was wanted on the basis of a warrant issued by the Supreme Court. Puigdemont had travelled from Brussels to take part in the Aplec Internacional Adifolk, an…

European banks

Ban On Bank Dividends: A Strange Remedy With Severe Side Effects

Scander Bentchikou (Lazard Frères Gestion) | The restrictions on bank dividends, which have been in force since March 2020, ended on Friday. For banks and their shareholders, this is a relief. The measure, supposed to protect banks from the crisis, has done more harm than good. Technically, the banking sector’s dividends made a big comeback in spring 2021. However, the amounts paid remained well below their 2019 levels, given the still numerous restrictions. The return to normal will have to wait for the results of the banking stress tests, published on 31 July by the European Banking Authority.

full employment

20 Million People Working In Spain: A Real Opportunity?

Social Security registers a record high of 19,500,277 people affiliated in June in Spain, In addition, there are still 447,800 people affected by temporary layoffs. Infojobs conjectures that the trend of job creation will consolidate in the medium term. With Social Security enrollment at an all-time high and the European funds still to arrive, is a real opportunity 20 million people working in Spain?

inflation rises

We Need To Talk About Inflation

José Ramón Díez (CaixaBank Research) | While expected, the rise in inflation is causing discomfort due to the high levels that have been reached and the risk of it persisting at those levels for longer than desirable without investors being startled. The key is whether we are faced with an economy that is simply skidding around as it seeks to accelerate from 0 to 60 in a short time, in which case inertia will allow it to easily regain stability; or, on the contrary, overheating caused by an excessively expansive demand-focused policy could test the strength of the economic engine.

Spain, windmill

Spanish Tourism: The Beginning Of A Necessary Recovery

Javier Ibáñez de Aldecoa Fuster (CaixaBank Research) | 2020 has now been left behind; a year that will be remembered in the tourism industry as the toughest in recent history. In 2021, the fight against the pandemic continues and restrictions on movement and trade are still preventing normal economic activity, hitting tourism-dependent businesses particularly hard. However, the roll-out of the vaccines will provide a turning point once immunity is achieved among the population most at risk. Our projections point to a strong recovery in the sector during the second half of the year, resulting in tourism GDP growing by 80% annually, once again becoming one of the driving forces for the Spanish economy.

intermediate sectors construction

Taking Stock Of The «Intermediate» Sectors In Spain

Oriol Carreras Baquer (CaixaBank Research | We are all well aware that the impact of the pandemic has varied widely from sector to sector. Those linked to tourism and leisure have suffered disproportionately. At the other end of the spectrum, some sectors, such as agriculture, forestry and fishing, or public administrations, education and health, have seen their activity increase during the pandemic. In this article, we focus on all the other sectors: the ones which, while having been dealt a heavy blow, have suffered less than those hardest hit. We will call them the «intermediate» sectors.

Pedro mascarilla españita

Spain: Economy Better, Politics Worse

Joan Tapia (Barcelona) | The crisis caused by the coronavirus, which has been going on for more than a year now, is far from being overcome. But perhaps the worst thing is that a latent pessimism – unjustified but real – all too often obscures data and realities that lean towards a cautious and reasoned optimism. If we add to this the political turmoil, we find ourselves – more so in Spain, but not only here – faced with an extreme confusion that alters reality.

unemployment spain

Spain: 59,000 Fewer Unemployed in March

T.C. | The number of registered unemployed in Spain fell by 59,149 people in March (-1.5%), its largest decline in this month since 2015, according to data published on Tuesday by the Ministry of Labour. With this decline in unemployment, which puts an end to five consecutive months of increases, the total number of unemployed reached 3,949,640 at the end of March.