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Poland’s defiance in brief

By Luis Arroyo, in Madrid | Poland is one of those countries whose contrast surely must give food for thought to the believers in the inflexible laws of the European common currency. Outside the sacred euro area, its economy grows, its real GDP!, while its unemployment rate evolution is flat at slightly under 2007 levels. But the euro authorities keep stuck in t eukanuba dog food reviews heir proud, honourable…

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Weekend link fest

A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. Eurocrats, get your financial bazookas right now Markets are fast, but democracies slow –solving the euro crisis How investors can thrive as the eur ipad manual o zone burns Angela Merkel is drawing the…


The art of deceiving the West without letting it to collapse

BEIJING | China is very good at persuading the international community. Current Chinese leaders had a great master: the strategist Sun Tzu who left a legacy on the art of seducing and wining. No matter what kind of cooperation Beijing has in mind, their main aim is to ensure that a win-win resolution is reached. Cooperating at the expenses of loosing some advantages is not an option. Therefore, one should not…


All sorts of Eurobonds

By Luis Martí, in Madrid | Amid the recent flurry of proposals for restructuring of the euro zone and opinions on its decomposition, seasoned with all sorts of half truths, two reports –one of the European Commission, by order of Parliament, and one of the Council of Economic Experts which advises the German government– have seriously dealt with the viability of Eurobond-based-solutions. The Commission's report was published late 2011 as a…

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Euro area hourly labour costs rose by 2.0%

Hourly labour costs in the euro area rose by 2.0% in the year up to the first quarter of 2012, compared with 2.8% for the previous quarter, Eurostat reported today. In the European Union, the annual rise was 1.7% up to the first quarter of 2012, compared with 2.7% for the previous quarter. In the euro area, wages and salaries per hour worked grew by 2.0% in the year up to…


The European Central Bank is the Death Star of the euro

By Nuño Rodrigo | | It is remarkable the swiftness with which the markets have amortised the bailout plan for the Spanish banking sector. But it is no surprise; the markets have their own stimulus, reward and learning mechanisms, and when an event appears repeatedly, the process rolls out ever quicker. The Greek bailout anaesthetised the markets for some months; the Irish did the same for some weeks; the…


“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…

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If Spain goes, say adiós to the euro

What To Say Through Text To Get Your Ev Back By, 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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Tuesday’s euro chart: quasi-improving consumer sentiment

The euro zone index of consumer sentiment in May confirmed a relative improvement this month, drawing a less negative private consumption this quarter. This would indicate a rate of contraction in both the first and the second quarter of about -0.5% (-0.7% in the fourth quarter). Retail sales data, to be published today, are expected to slowdown its worsening. They would also point to a contraction rate of about -0.5%….


Draghi demands a schedule towards the United States of Europe

By Julia Pastor, in Madrid | The very logical answer from the European Central Bank’s president Mario Draghi to the Spanish claim for that institution intervening was a rejection. Instead, Draghi demanded Thursday that European leaders make up their minds on how the euro will be in a year’s time. Draghi also argued in favour of a “banking union”. News agency Europa Press reported his declarations. “Can the ECB fill the…