how do i get back my ex girlfriend By Luis Arroyo, in Madrid | Changing the goal posts… Again, Brussels rectified. The euro finance ministers Ecofin made this morning the decision of not waiting until 2013 to release at least part of the capital aid package. A third of the total sum of €100 billion will be available in July. The connotations of this change of mind, though, go beyond…
MADRID | Have you noticed that since the Libor fraud has the dubious honour to receive full front page coverage, the euro zone troubles have been dumped into inside pages? No one raises doubts on the fragile agreement reached in the last Summit, thus providing some respite to the badly mauled Southern Europe countries. It would be quite unfair to imply there is some kind of Anglo-Saxon conspiracy against the common…
By Tania Suárez, in Madrid | German and British banks are trying to woo the economic elite of the Spanish society, “la crème de la crème” of wealthy Spaniards. Or, in plain English: the ones with the big bucks. The uncertainty over the Spanish future is making the depositors nervous, and banks from the UK and Germany are trying to take advantage. According to this article of the online daily El Confidencial Digital, foreign…
MADRID | The cost excess the Spanish government pays for credit from the capital markets in comparison with Germany, which is considered the benchmark in confidence matters in the sovereign bond sector, has fallen since last week's euro summit. The main two reasons seem to be that the plan for financial aid for Spain to recapitalise its banks was somehow agreed by the euro authorities, and the possibility that the…
MADRID | The Summit has just avoided the worst from happening. Super-Mario and an unexpectedly bold Mariano Rajoy achieved a coup d’état toppling Ms Merkel from her undisputed pedestal. Hollande’s support was vital in depriving her of her hitherto boundless power. Yet one has the impression we assisted to a rehearsed show meant to provide an excuse for Germany to cave in to pressure. Everyone was afraid of having to confront the…
By Julia Pastor, in Madrid | After so many fruitless meetings, conversations and rounds nobody expected that the European leaders would be able to reach a more than reasonable agreement for Europe, that tough Germany would relax its position towards its Southern partners, and Spain and Italy would resist before the steam engine of the euro zone. But it happened. Banks will be recapitalised directly with the European Stability Mechanism…
LONDON | It is a raging war what today burns within the Madrid-Rome-Berlin triangle, and with the survival of not only the European common currency but the future of the United States of Europe at the epicentre of the negotiations. Painful obedience has evolved into a tense, dynamic partnership. The stiff stillness imposed by the German Chancellor Angela Merkel as the most powerful economy representative has for once been broken…
MADRID | Summits are meant to be the meeting place for those dwelling in the Olympus. Those struggling to survive on the Earth surface have more urgent concerns than discussing about the euro zone destiny, an angels'-gender dispute that fails soothing their daily toils. Spain undoubtedly ranks among the latter. It will attend today’s meeting with its mind focused on the bleak aftermath. Banking union might stand as a cornerstone…
By Tania Suárez, in Madrid | José Luis Herrera, analyst at CMC Markets, considers that it’s necessary a Federal Europe in order to achieve economic policies with a combination of austerity and growth. In his opinion, authorities need to undertake growth measures that have an effect on the real economy, but avoiding a new bubble. You recently said in an interview that world central banks could take a joint action…
By Nuño Rodrigo | www.cincodias.es | While our European leaders battle with a crisis seemingly impossible to be resolved, while euro zone third and the fourth economies feel threatened by the danger of being rescued because they cannot afford to access the markets, and while for all of these reasons the world approaches a crisis relapse, the guardian of austerity secrets and price stability wakes up every day with a sack of almost…