Today Europe moves softly softly on Ukraine (BBC)
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The Corner gives you the economic news you need to make investment decisions and understand what’s happening from a collection of voices.

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ECB balance sheet

Oh boy! ECB’s balance sheet is disappearing!

News in Europe

MADRID | By Tania Suárez | While more voices within the ECB are asking for more unconventional monetary measures, the IMF has recently urged the European institution to “expand its balance sheet.” And yet the central banks’ balance sheet hasn’t stopped shrinking: -30% in the last months, down to €2.16 billion.

What's Going On in Spain

News in Europe

“Spain will repeat its success as tourist destination in 2014”

FRANKFURT | By Lidia Conde | Co-manager at Europe’s leading travel group TUI Oliver Dörschuck considers that “Spain is by far the most important tourist destination for TUI and its clients.” However, for him what matters most today is not the destination, but the hotel, which has to bring the best experience to the client.

TUI tourist destination Spain
News in Europe

Are Spanish media betting on King Juan Carlos again?

OP-ED By Julia Pastor | Spaniards disaffection with monarchy sank to lowest levels in 2013 after several embarrassments and corruption scandals affecting the Royal Family. But as King Juan Carlos wraps up his 6th visit to UAE on Wednesday, Spanish media of all political signs are sticking to his diplomatic role. The monarch is seeking to open doors for Spanish infrastructure companies. Only Abu Dhabi’s subway is to raise €8 bn.

king juan carlos
Financial markets

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Market makers are highlighting the enhanced capital flux in the Eurozone prompted by the QE prospects while Germany Zew Index displayed a slight drop in the business confidence in April. Besides, analysts agree that China’s economic slowdown and Ukraine are going to determine the market mood.

News in Europe

Euro pessimism is back on fashion

MADRID | J. P. Marín Arrese | Both the main economic institutions and think tanks cast a gloomy forecast on Europe. The IMF leads the way, advocating for swift action to revamp an ailing growth performance. Its blatant U-turn has drawn scarce criticism. Not so long ago, it endorsed hawkish views on the need to implement full-fledged austerity, no matter the cost, thus contributing to trigger the rotten conditions it now reviles.


News in Europe

Who benefits from Greece’s return to the markets?

ATHENS |By Jens Bastian via Macropolis| The first Greek bond since 2010 was characterized by a particularly striking mismatch between the demand and supply side. More than 85 percent of those pension funds, private equity firms, asset managers and hedge funds – primarily from the US and the UK – who placed buy orders in the book-building process were left with portfolios devoid of Greek debt.What does this mismatch tell us? Clearly, this was not a coincidence. Rather, it speaks volumes of a well-orchestrated bond placement, where the sale volume was not the primary objective for the Greek Public Debt Management Agency.

Greece's return
Financial markets

Market chatter: down the road to a banking union and much more

MADRID | By Jaime Santisteban | In a crucial day for the long-awaited banking union in Europe, market makers also chattered about many other issues, like the Bank of Spain -which has denied it plans to subject Spanish lenders to stress tests this month- achieving less tough criteria for Spanish banks in the upcoming EU stress tests.

World economy

China: Why ‘gentleman’ matters

BEIJING | By Will Spence via Caixin | The English Gentleman may be one of our country’s most enduring national symbols, but it is still a somewhat controversial topic back home. In China, however, the concept has flourished in a wholly positive way. The Chinese government often says it wants to build up its soft power, but for this to happen it may have to embrace its heritage and adopt a gentler approach.


News in Europe

Does the SRM mean the end of an era?

MADRID | By The Corner | The European Parliament is giving green light to the Single Resolution Mechanism (SRM) this week for ailing banks as well as the €55 bn fund to finance bankrupcies and restructurings. Amid claims that the Euro zone’s banking sector is now safer and better supervised, some international lawmakers point out that banks are still weakly capitalized. “Europe should be careful no to make promises that it won’t be able to hold afterwards,” they say.

Single Resolution Mechanism
News in Europe

Spaniards did rescue Spain

OP ED by Julia Pastor | Brussels welcomed Spain’s economy timid comeback to the path of growth in 4Q13. When some financial publications wonder who saved the country, they quote Draghi’s OMT as well as the internal devaluation followed to PM Mariano Rajoy’s reforms. They do not mention, however, that due to internal devaluation Spaniards have seen their salaries cut by an average of 10%, and 27% of household depends on retired people pensions, who are even assuming mortgage loans their kids can’t pay anymore.