Fernando González Urbaneja | The Sánchez government has given changing, confusing, changing and poorly explained responses, always tinged with a colossal self-esteem summed up in the boast that others are watching us and copying us… we are among the best… However, objective data and international statistics do not support this belief; on the contrary, Spanish performance is among the least fortunate.
F.Barciela / F.G. Ljubetic | Just as was expected, the ‘Opportunity Funds’ (or Vulture Funds as they are referred to) are starting to unwind positions and leave Spain: good news, because it shows that the days of bargains are over as the country is firmly on the road to recovery. But the fact these funds are leaving Spain doesn’t mean they will not have other opportunities. Now they are betting on countries like Brazil, Greece, Italy or Puerto Rico.
Last week the Council decided that Spain and Portugal’s recent efforts to reduce deficit were not enough. This lead to the two countries being fined, the first time this happens since the inception of the euro.
SANTANDER | By Ana Fuentes | European Commission President José Manuel Durao Barroso chose his last days in the job to dot the i’s and cross the t’s. Surprising many by his candor, he directly accused the Bank of Spain of making “important mistakes” supervising the financial sector. “It was not the EU nor Ms Merkel who originated the crisis,” he said.
NEW YORK | By Ana Fuentes | The Spanish Government has launched a charming offensive in the U.S. The United Nations General Assembly was the perfect excuse. PM Mariano Rajoy came to the Big Apple on a 36-hour-trip in order to push for a seat at the Security Council. Indeed. But the most important thing for him was to seduce American business media and send them a clear message: Spain’s economy is far better than it was one year ago.
Are we witnessing a real improvement in Spain’s performance? Some key data point in the right direction. Relentless efforts to streamline public finances are paying off.