Agnieszka Gehringer ( Flossbach Von Storch Research Institute) | The labor market consequences of the corona crisis have been unprecedented. Roughly 21,4 million jobs have been destroyed within only two months, almost erasing the 22,4 million jobs created after the Great Recession of 2008/09. By comparison, during the Great Recession 8,7 million jobs were destroyed within the 25 months between February 2008 and February 2010
A.J.A. | It is a common misunderstanding, typical of young people, to think that the greatness of democracy lies in the fact that we can choose who governs us. No. Its greatness lies in the fact that it gives us the chance to boot out the incompetent Government that has governed us for the last four years. Be it a PP Government, be it a PSOE Government. That’s what people in Venezuela, Cuba, or in China can’t do.
José Ramón Díez Guijarro (Bankia Estudios) | Extraordinary measures have allowed financial markets to stabilize during the week. With one exception, as it seems that the concept of urgency is different in Europe from that in the rest of the world. The European summit on the coronavirus ended with the decision to take two weeks to analyse proposals. Even in a situation like the present one, northern European countries are not prepared to mutualise risks. We will see if all this does not end up affecting the waterline of the European project.
Daniel Wagner | The West can learn a lot from the response of the governments of China, Singapore and South Korea, which clamped down, instructed their populations to stay at home and ensured that they did so. These governments did not panic or overreact; they simply did not under-react, as America and much of the West have done.
Stephen Chan (Fair Observer) | This is a historic moment for what is now the United Kingdom. What the country will look like after 10 years is up for debate.
Joan Tapia | The latest data indicate that the economic slowdown in Spain is showing some signs of reversing. That is, the slowdown is slowing down and that the economic situation in the coming months may be somewhat better than expected by some of the most pessimistic analysts. The misfortune is that this slight recovery of economic optimism has no correspondence in the political field, as the result of the 10-N elections and the subsequent movements of the parties indicate a very difficult governance.
The chances of “getting Brexit done” reasonably quickly and smoothly have never been better.
Juan Luis Manfredi (The Conversation) | The elections in Spain do not represent a second round nor a referendum or a presidential test. They cannot be compared to those of last April 28 despite the strategic over-action of political leaders. The socialist party had too much confidence on their advisors, the CIS public research institute poll and a social media-based campaign.
Gilles Moëc (AXA Group) | We knew that the European Central Bank (ECB) was very divided in the run-up to the Governing Council meeting on September 12th, but two weeks later the fallout of what must have been a very fractious discussion is still very much here.
Ofelia Marín-Lozano (Capital Sicav) | Political events have always had a certain influence in the behaviour of financial markets in the short term. Although what dominates in the long term are company results, any uncertainty coming from the world of politics has a cost, and currently there are many uncertainties weighing on the minds of investors.