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.
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Tax haven crackdown won’t go far
MADRID | By JP MarÃn Arrese | So long fiscal havens apply close to zero taxation, companies engaged in cross-border business will continue to profit from these favourable arrangements.
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.
Spanish banks capital ratio better than Germany’s
MADRID |By José Luis Marco at CapitalMadrid | Germany or the Troika, that for some already begins to be the same thing, may have their doubts about the level of funding of the Spanish banks and the process of consolidating their balance sheets. However, according to objective data, German main private banks capital ratios are far below those of Spanish leading financial groups.
Let’s free the EU from corruption
ROME | via presseurop.eu |Â The EU is becoming a corrupt church where Germany rules by a dogmatic economic orthodoxy. Politics must take back control with a protestant schism coming from grass-roots initiatives, argues Italian La Repubblica.
Francois Hollande must be braver
By Skip Worden | In trying to have it both ways—an economic regime and a political union—Hollande was being political at the expense of his own proposal.
Robert Skidelsky: “Can we afford the economy to deteriorate even further?”
WASHINGTON | By Pablo Pardo | Robert Skidelsky: “There are technical economists in finance that had told us again and again that 2008-like ‘accidents’ were simply impossible. What connections do they have to the investment industry?”
Spain’s economic growth will come, but from where?
MADRID |Â By Carlos DÃaz Guell |Â The future of Spain’s economic growth is uncertain, especially since the crisis has proved that many industries only worked when fueled by subsidies. Exports seem to be the country’s only hope and politicians are too busy fighting to make productivity, R&D investment or education a priority.
Thursday’s chart: progress in Ibex 35 company deleverage
Analysts believe Ibex 30 companies will press further ahead to increase deleverage, no matter how much risk premiums deflate.
If not the single contract, what then?
VALENCIA | By Cruz Sierra, editor at valenciaplaza.com | One thing is sure: the solution is not to be found in the current complex, over-bureaucratic contract system, or among those privileged classes who enjoy prerogatives that the public system cannot afford.
