The levels of unemployment registered by the Spanish labour market worry the whole of the eurozone, which is eager to see positive signs after Madrid implemented budget cut programmes and reforms. BNP Paribas said job creation is coming and will be quick.
Spanish economy’s agents have prioritised the reduction of their debt burden, and businesses’ savings have increased by 6.1 percent.
In the latest national opinion survey, Spaniards told the Rajoy government to close the nationalism front and weigh in with all resources to sort out the economy.
Spain needs technical but also political assistance to redress the hesitant and often deficient action of the current government. Even if backed by an overall majority in Parliament, the government seems unable to offer a solvent alternative.
MADRID | By Carlos Díaz Guell | The Spanish bank’s bailout, added to the reforms and decisions made during the last years, can effectively complete the country’s banking puzzle and halt the worsening of a seemingly never ending crisis.
Over 80 percent of all Spanish deposit banking institutions–six of them systemic–will be inspected by the European Central Bank from 2014.
Total gross issuance had to reach €199.5 billion, but the government had placed €200.9 billion of sovereign debt as of Wednesday.
BARCELONA | By CaixaBank | Exports to countries outside the euro area rise by 14.5% year-on-year. Spain’s net debt position with the rest of the world falls to 93.7% of GDP.
Morgan Stanley explained that its “strategy advisers have highlighted Spain as one of the potential surprises in 2013, along other peripheral euro country members.”
MADRID | By Fernando Barciela | An interview with Afi CEO Ángel Bergés: “The International Monetary Fund estimates that the Spanish premium risk is up to 200 basis points higher than it should be merely due to euro zone problems.”