MADRID | By Francisco López | The euro zone’s growth has been better than expected and the last data had unleashed speculation before a possible change of message of the ECB’s President. Far from reality. To the disappointment of the Bank’s Board hawks, with Germany at the forefront, Mr. Draghi has guaranteed that the price of money will follow “at the current level (0.50%) or even lower for an extended period of time”.
MADRID | By JP Marin Arrese | The Spanish government claims its structural reforms are paying off. For several months in a row unemployment performance has markedly improved, rising hopes to curb the current staggering level: more than one in four workers queuing in the dole. It also helps that exports are growing at 8% rate, allowing to save jobs and keep the economy running.
MADRID | By J.P. Marín Arrese | The Spanish PM has a hot agenda for the rentrée. Not only Mr Rajoy has to deal with the corruption scandal of his party but also with UK over Gibraltar’s dispute. The good news is that Spanish bonds yield is pretty low and giving Madrid some fresh air to reduce the deficit, still very high.
MADRID | By J.P. Marín Arrese | The summer break has delivered a much needed respite to Spanish banks, yet the forthcoming autumn will bring them a number of hurdles and potential pitfalls. For the author, the most worrying fact is the lack of ambition in performing a much needed restructuring.
MADRID | Since the start of the financial crisis in 2008, the Spanish banks have reduced their presence in 7,925 branches or -17.2%, the equivalent of a 53.6% of the whole Eurozone’s banking sector.
VALENCIA | By Luis Torralba, via valenciaplaza | Rosend Ortí, director general at Caixa Popular, one of the very few small saving banks that have survived the financial typhoon in Spain: “The partnership model resists well against the current crisis.”
MADRID | By Luis Arroyo | The Spanish government is simply enforcing the law–a law that the British government has signed. Madrid, unlike London, still has the option of increasing its pressure without pointless nationalistic antics like Royal warships.
MADRID | The Autonomous Communities with the greatest number of mercantile companies created were Comunidad de Madrid (1,679) and Catalonia (1,322).
BARCELONA | By Enric Fernandez | Both institutions and culture have a lot of inertia. There is no doubt, however, that this is much more the case with culture. Implementing a cultural change is surely impossible in the short term.
MADRID | By José Hervás | European commissioners and top officials can receive up to 70% of their salary when they retire, which in most cases translate into more than €10,000 per month.