MADRID | The new antifraud law in Spain is bringing surprises on the table: more than 130,000 tax payers have declared assets held in foreign countries with an estimated total value of 87.7 billion euros, more than the double of what Spanish Treasury estimated. The penalty is 150% of the tax due.
All posts by thecorner.eu team
David Cameron sits alone in the corner
LONDON | By Dr Simon Usherwood | Cameron needs to be able to show that a British agenda of market-based integration has traction in the EU and that he is ‘winning the argument’. He’s being ‘tough’ policy helps little.
The slow but sure repo market
BARCELONA | CaixaBank Research | The action taken by the ECB has prevented a disaster and is designed to ensure a gentle, gradual normalization. Several signs support this second interpretation. For example, the early repayment of LTRO loans.
Investment in Europe’s periphery becoming sexier
Sure, the eurodrama is a fact. But there is a growing interest about investing in the peripheral Europe. Morgan Stanley has conducted a survey among investment managers and 38% of them expect the CDS of the Spanish sovereign bond to be between 150-200bp over the next 12 months.
Against the Eurocrisis: more monetary ammunition, more reforms
BARCELONA |Â By Jordi Gual, economist | The euro area’s double dip recession is due to inopportune management of the sovereign debt crisis and slow advances towards European integration.
Gas Natural Fenosa director Ramon Adell: “We comply with a policy we don’t agree”
MADRID | By Fernando Barciela |Â We live in an interconnected world, and a disunited Europe would be far worse equipped to influence and expand its market. As mighty as it appears, Germany would be but a little country isolated in the world.
The Spanish economy as a surprise
MADRID | By Alfredo Pastor, for lavanguardia.com | The main surprise about Spain is the size and speed of our external adjustment. Fiscal adjustment and the good behaviour of exports are also two positive surprises. Citizen solidarity helps counteract the grave effects of the crisis.
Will the Kirchner government listen to Repsol about Vaca Muerta?
MADRID | via valenciaplaza.com | Although there have been no agreement in previous occasions, Argentinian commentators describe Fainé as more ‘open-minded’ than Repsol’s president Antoni Brufau, who would favour legal action against the Kirchner government.
Build Up Skills Spain: Can the EU help the construction sector?
MADRID | By Ignacio Mulas at CapitalMadrid | How to fix the most battered sector in Spain by the economic crisis? Construction has lost around 18% jobs in one year. A new European project called Build Up Skills Spain tries to shed some light and recommends public investment to upgrade workers into energy efficiency and rehabilitation. Because that’s the only hope.
Tecnicas Reunidas awarded Turkish Aliaga’s $1 billion contract
MADRID |Â The value of the contract for TR will be above 1,100 million US dollars and will have an execution period of 49 months until the commissioning of all the units.
