MADRID | Deutsche Bank analysts said that Spain will grow again from 2013, even though the country will not meet the current deficit targets. Spain will this year miss the 5.3% set by Brussels and will not be until 2014, a year later than planned, when the imbalance will be reduced to 3% of GDP. In a note published Tuesday and reported by El Economista, the bank’s experts explained that Spain…
LONDON | Ambitious property buyers hoping to pick up a European bargain despite economic turbulence pose a challenge to forecasts of a never-bottoming peripheral real estate market. The ongoing sovereign debt crisis is doing little to deter home buyers as Spain and France remain the firm favorites for those seeking to buy a place in the sun, currency specialists HiFX said on Tuesday. Its Property Hotspots Report crowned France and Spain as the top…
By Luis Arroyo, in Madrid | Spain is the word. Everybody looks at Spain with suspicion because it could be the source, not the cause, of the next and penultimate euro crisis. The premium risk goes up, Argentina prepares a takeover on YPF, and the King breaks his hip and his grandson shoots himself in the foot. The rumours I hear tell me that the nation’s government does not expect any help…
Spain feels overwhelmed, to say the least, about the fact that it is these days referred to in countless headlines, euro zone leaders’ comments and foreign market participant analyses. The view from Madrid is that those portraits do not always mix the most accurate data with the intention of extracting a sentenced-to-bailout picture, in most cases. Of course, this is a biased impression, although the Spanish government and the financial industry…
MADRID | The US market once again knocked on the doors of the Spanish railway equipment manufacturer CAF. The company, based in Guipuzcoa (Basque Country) will supply trains for the rail project in the city of Cincinnati, in the State of Ohio. In an initial phase, the company will manufacture a small number of vehicles, which it will also keep updated. So far, CAF has been chosen as preferred supplier and will now negotiate…
MADRID | The new team in power in Spain never thought they could one day being mercilessly mauled by markets as the previous government was. Spanish Conservatism was supposed to stand as a safe harbour in a euro zone vastly dominated by fellow political parties. Swift implementation of sweeping reforms, coupled with an extremely tight budget, was expected to act as a powerful lever to winch up ailing credibility. And yet, Madrid…
NEW YORK | A big amount of pain in the Spanish economy could have been avoided. But the Germany authorities chose not to. This is pretty much the line of thought that The New York Times has been sharing with its public for months. So far, the excessive “German-led mismanagement of the euro-zone crisis” has been the focus of as many op-eds as the war in Afghanistan or the US healthcare…
Too true. Undeniably, this was the frightening scene on Friday, which heated the discussion about what’s next for the Kingdom of Spain, with even some Greek bouzouki music on the background. But. Analysts at Sabadell Bolsa reminded the markets of a few facts, probably compelled by the amount of fog gathered during the last days over the state of the Spanish finances and its economic prospects. Although acknowledging that domestic imbalances…
MADRID | Analysts at Barclays in Spain felt so shocked by how little knowledge some market participants can display about the actual situation of the Spanish economy, that decided to act. Why Spain does so poorly compared to the rest of Europe? Well, does it? This is the quick note they wrote on Friday aimed at lending a hand to “some brokers and fund managers, mostly foreign, [who] seem to…
MADRID | Berlin is utterly bewildered, according to official sources, by the clumsy way Madrid is running its current crisis. A high ranking government representative stunned his German counterparts by openly declaring that Spain would be ready to find its way out of the euro if that was the prize to avoid intervention. He wasn’t bluffing. On Monday this week he presented PM Rajoy and ministers in charge of economic matters…