Today BoJ stuns investors by expanding monetary easing programme (FT)
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The Corner contextualizes the EU’s economy from Spain with exclusive analysis from market leaders.

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U.S. progressive budget reminds us that government can create jobs

World economy

NEW YORK | By Nell Abernathy via Next New Deal |Unemployment is still a major problem in the U.S., and the best solutions involve a more aggressive government response. The skeptics will argue that the government is too inefficient and bureaucratic to effectively create middle class jobs and support economic growth. But the 2009 stimulus package provides a prime example of effective government intervention: it was designed to create 2-3 million jobs, and it succeeded.

bankia
Markets

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | After the storm always comes the calm, and the dividend. Bankia’s Chairman José Ignacio Goirigolzarri revealed in the General Shareholders Assembly on Friday when first dividend will be distributed, probably in 2015. Restructuring plan (in record-breaking time) prevented the bank from doing so in 2014 and 2014. Reward wouldn’t just benefit small stockholders but also the State, that would get back part of the €22.4bn disbursed for BFA-Bankia bailout. 

China new economy
World economy

China: The mirage of the ‘new economy’

SHANGHAI | By Andy Xie via Caixin | The current Internet boom and the new economy, centered around social networking, e-commerce and online gaming, has not produced a significant productivity boost for the economy and likely will not in the future. The boom is mostly about redistributing existing demand from offline to online.

The euro sign landmark is seen at the headquarters of the European Central Bank (ECB) in Frankfurt
Markets

Why is the ECB so demanding with Spanish banks?

MADRID| By Francisco López | Spanish banks are the most closely examined in the world, but it does not seem to be enough for supervising institutions. The ECB has urged them to undergo a new and comprehensive assessment of their exposure to real state sector before the European banking industry’s Asset Quality Review previous to the stress tests that will take place by the end of the year. The central bank has rejected that Spain’s entities use 2012’s review by audit firm Oliver Wyman. Even though ,they reckon, that would save money and time.

Markets

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Moderate falls on European stock markets today as they assimilate this ‘hawkish’ message from the Fed.  In Spain, another operation adds to Prisa’s restructuring of its debt burden of over 3 billion euros. 

putin
Markets

Today’s market chatter in Spain (focused on Inditex)

MADRID | By Jaime Santisteban | Inditex is pushing Spanish Ibex 35 upwards today as its growth reaches maturity stage. The owner of Zara is working to reduce operative costs. However, its shareholders will get a 10% higher dividend. Bankinter considers the Spanish firm results to be somewhat weak. Euro’s strengh, slow domestic recovery, emerging countries slowdown could explain such underperformance.