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Puerta del Sol Square, Madrid, Spain

Spanish economy 8th September 2020

Spain’s Full Recovery Will Come In 2023

Intermoney | There are important reasons for maintaining a prudent attitude with regard to the Spanish economy, situating its full recovery in the year 2023. This would mean that we would lose more than a decade of the fledgling 21st century. On the other hand, there are also reasons to hope the recovery will eventually take shape and not be too far off. These include the encouraging development of the COVID-19 vaccines, the decisive response from the ECB and the EU, and a lesser impact of the crisis than feared on large European partners and customers.

Telefonica nubecillas

Ibex, Markets 10th June 2020

Telefónica Buys 10,100 Towers From Its German Subsidiary Through Its Telxius Infrastructure Arm; Cuts Debt By €500 M

Telxius, Telefónica’s infrastructure subsidiary, will carry out a capital increase of 1.5 billion euros to buy towers from Telefónica Deutschland. Telxius will finance 90% of the acquisition via a capital increase – which will be subscribed by current shareholders in proportion to their stake – as well as internally generated resources. The remaining 10% will be financed through incremental debt.

family deposits TC

Spanish economy 20th April 2020

Private Debt, At A Minimum Since 2003, May Be A Key Tool For Spain In The Face Of The Coronavirus Crisis

Bankia Estudios | One of the Spanish economy’s strengths with which to face the devastating crisis unleashed by Covid-19, compared to the previous financial crisis of 2008-13, is the private sector’s healthier starting position. In this respect, families and companies’ consolidated debt stood at 129.7% of GDP at end-2019, the lowest figure in 16 years and 63.5 percentage points below the 2007 level. Corporate debt also falls to a low of 16 years in GDP terms (72.8% vs the previous 75.1%).

corporative deb fed

World economy 3rd April 2020

Forced Debt Sales For Companies That Lose Their Investment Grade Starting to Happen In The US

Intermoney | In the case of credit, a situation is already beginning to take shape in the US that worries us quite a bit and which will end up spreading throughout the world. Namely, the forced debt sales for companies that lose their investment grade rating. Currently, this would translate into the closest thing to a sale of balances. This situation has already forced Western Asset, a fixed income manager with $460 billion under management, to apply for a waiver for a Fresno County public employee pension fund.

ursula pedro

European politics 27th February 2020

The EC Asks Spain Government For Prudence With Labour Reform Review

The European Commission (EC) urged the Spanish government to “carefully” evaluate the potential impact of any modifications to the 2012 labour reform and to “preserve “the most positive aspects of it, which “supported solid job creation” during the recovery phase. Citing a recent study from the International Monetary Fund (IMF), it states that “the labour reforms adopted in 2012-13 in response to the crisis have played an important role in promoting a rich recovery in employment which began in 2014.”