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Europe

santander recurso

In Europe 14th March 2016

Spanish Banks Likely to Avoid the “Swiss rate” scenario

UBS | President Draghi surprised the market positively, both in terms of the magnitude of some of the expected moves (QE extension in the upper end of the range) and also implementing new measures (acquisition of non-financial IG bonds in its asset purchases, and new targeted TLTRO). For (retail) banks like the Spanish, the balance of ECB’s actions has to be considered as positive, especially if trends seen in the swap market are confirmed in Euribor fixings.

Draghi tranquis

In Europe 8th March 2016

The ECB Will Prefer To Be Safe Rather Than Sorry

The ECB’s main priority will be to fuel confidence in the financial markets and inflation will be its alibi for this. In February, eurozone CPI receded to -0.2% year-on-year and, in the short term, the region should be prepared for negative rates to continue.

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In Europe 6th March 2016

The Refugee Crisis And The Beast Within

Nick Malkoutzis via Macropolis | As symbols go, the imaginary pig’s head in William Golding’s Lord of the Flies requires little explanation. Its meaning is summed up in one line of the unnerving classic. “Fancy thinking the beast was something you could hunt and kill!” says the fly-infested head. “You knew, didn’t you? I’m part of you?”

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In Europe 1st March 2016

A ‘Brexit’ Map for Sterling

UBS | A date for referendum is set and the pound is getting pounded. The United Kingdom reached an agreement with the European Union and the UK announced that the referendum vote will take place on 23 June 2016.

consumer spending

Spanish economy, Uncategorised 29th February 2016

Consumer spending in Spain outpaces eurozone

The figures issued by the Bank of Spain have confirmed what we could already see with the naked eye; namely that Spaniards are losing their fear of the future and spending again. After several years of austerity, the consumers in Spain have gradually loosened their purse strings over the past year. And to such an extent that consumer spending rose 3.1% in 2015, almost tripling the 1.2% registered a year earlier.

crosissier

Interviews 29th January 2016

“The Idea That Oil Is In Scarce Supply No Longer Seems Valid”

Luis Carlos Croissier is a member of the board of Repsol, Spain’s biggest oil company. He recalls that proven global oil reserves are currently double the level they were in 1980. Croissier was also chairman of the CNMV, the stock exchange regulatory body, and responsible for the Spanish bourse’s “Big Bang”, at the end of 80’s. Before that time, he was Industry Minister in Spain’s Socialist party.

US EUROPA1

World economy 13th January 2016

What To Make Of Divisions In The West

Marc Chandler via Caixin | Lenin and Kautsky once debated the future of imperialism. Kautsky saw a trend toward a global ruling class. Lenin argued that despite such tendencies, inter-imperialist rivalries would prevent the emergence of global ruling class. The so-called West was never as homogenous as the cold warriors pretended. There were asymmetrical perceptions of the threat posed by the Soviet Union until its dying days. Only now do the United States and Europe contemplate a free-trade pact.

stock markets

World economy 17th December 2015

Analysts bet on European bourses in 2016

Most analysts think that the European stock markets, and particularly the Spanish bourse, have taken an excessive beating over the last few sessions. Now fund managers are recommending to take advantage of the recent correction to buy into these markets. In their opinion, the recovery in activity in the euro area will be accompanied by an improvement in share prices in the coming months.