Mariano Rajoy

In Europe 7th April 2015

14 year employment record set in March

MADRID | April 7, 2015 | By Fernando G. Urbaneja | There are two lingering black marks against the Spanish economy. The first is rampant unemployment, which is second only to Greece in the euro area and the OECD. The second is a large budget deficit-the largest in Europe-which remains stubbornly high and is still some way off the target of 3% of GDP. Against that backdrop, the Spanish economy has returned to stronger growth this year, with forecasts showing the economy could expand by as much as 3%.

Spanish economy 29th December 2014

Recovery and electoral expectations

MADRID | By Fernando G. Urbaneja | Spanish PM Mariano Rajoy faces 2015 with electoral commitments and weak prospects. The goal of the Popular Party (PP) is to reach enough votes so as to maintain a large part of its power in the Spanish regions and city councils where it has the majority. The final goal is achieving the re-election in the central government by means of achieving the recovery.

Spanish economy 7th November 2014

What will you do, Mr Rajoy?

BARCELONA | By Joan Tapia | The emergence of the leftwing party Podemos (We Can) and the ghost of a forthcoming political instability weight more on Spanish politics than an unquestionable economic improvement (which is too slow and risky). Anyway the advantage of the conservative Popular Party (PP) in power compared to the Socialist Party (PSOE) was reduced during summer from 8.8 to 3.6 points.

Spanish economy 24th September 2014

Abortion in Spain: Minister quits over his scrapped bill; government keeps votes

MADRID | By Fernando G. Urbaneja | Spanish Justice Minister Alberto Ruiz Gallardón announced his resignation on Tuesday after the government scrapped his controversial abortion reform plan restricting it to only cases of rape or serious health risks. Although Mr Gallardón had 30-year-experience in politics, president Rajoy let him go –he didn’t want to take the risk of losing more votes in the next elections.

Spanish economy 26th August 2014

Merkel supports Luis de Guindos to be the next President of the Eurogroup

MADRID |The Corner | After a meeting between Mariano Rajoy and Angela Merkel in Santiago de Compostela, the German chancellor gave her support to the candidature of the Spanish Economy Minister, Luis de Guindos, to succeed Jeroen Dijsselbloem as President of the Eurogroup. As Barclays analysts comment, “with Italy’s and France’s leftwing governments and UK in or out of the EU, Spain is now a more attractive partner.” Regarding Germany, Angela Merkel recognised that the crisis in Ukraine is damaging the German economy. Nevertheless, Merkel affirmed that she forecasts a good annual growth if nothing dramatic happens.

Spanish economy 4th July 2014

Rajoy’s armour-plating against strong, divided left?

MADRID | Op-ed by Jaime Santisteban | Spanish government is announcing “second generation reforms” in technology and innovation, optimizing of European Structural Funds for youth employment and public-private partnerships. Even a change in mayors’ election procedure. On which grounds? These measures come up after European elections showed a very fragmented political scene and a serious punishment to bipartisanship.

In Europe 6th May 2014

Can Spain become EU’s periphery locomotive?

MADRID | By Julia Pastor | Spanish PM Mariano Rajoy started campaigning for the upcoming European elections on Tuesday. In a radio interview he announced that the country’s unemployment rate has started reversing since job destruction is slowering. The fall of the country’s risk premium and 10-year bonds yields are crucial for companies financing abroad, he recalled. Even though Brussels forecasts are just estimates, they do support the idea that Spain could become the driver of peripheral EU with a growth over Italy, Portugal and even France.

Spanish economy 11th December 2013

Will Spain’s risk premium let the government sleep at last?

MADRID| By Julia Pastor | Spain’s credit quality and solvency is increasingly improving. The country’s risk premium closed at 219 basis points on Tuesday to its lowest level since June of 2012, and under Italy’s. Also Spanish 10-years bonds neared 4% yield, more than double than the German ones. Public debt investors do not have much better options.

In Europe 27th November 2013

Rajoy and Hollande Team Up For Euro Zone Banking Union

MADRID | By Julia Pastor | Amidst their talks about economic policies and speed railway connections between Spain and France, both Mariano Rajoy and François Hollande met in Madrid on Wednesday. However, the visit bottomline is to seek for a common stance on banking supervision.

Spanish economy 21st November 2013

Lights and shades of Rajoy’s two years as Spain’s president

MADRID | By Julia Pastor | Two years, a €100 billion banking bailout, and a comprehensive package of structural reforms later, Spain’s president, Mariano Rajoy, celebrated on Wednesday his 2011 electoral victory. These years’ balance is some sort of bittersweet taste. The country’s external perception has improved, but unemployment and public debt numbers are still a heavy burden.

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