Category Archives: On the cover

On the cover

Spain: Austerity, Yes Please

Global Economy, On the cover, Sin categoría, Spain

“Rather than attempting to return to Their artificially inflated GDP numbers from before the crisis Governments need to address the flaws in Their Underlying economies” R.Rajan, Univ Chicago

“Governments are always Keynesian when it comes to spending. When it comes to saving They Become Stalinist “

We have read some terrible economic news for Spain . Unemployment of 27.16% and a deficit that reached 10.6%. A 7.1% excluding banking aid. Spain, for the fourth consecutive year, reached a deficit of more than 100 billion euro. That’s a level some politicians want to relax!!! . However, we have also received great news that we should not forget. The banking sector has recovered 25% of the deposits lost in 2012 and the corporate debt has fallen to 2006 levels. Continue reading Spain: Austerity, Yes Please →

Thank you, Thatcher

Global Economy, On the cover, Sin categoría

This article was published in El Confidencial on April 4th 2013

“The single currency will be fatal to the poorer countries because it will devastate their inefficient economies”. Margaret Thatcher in 1990.

In the late 70s, Britain was suffering from three problems that will seem quite familiar to any European today: rampant unemployment, a bloated public sector and a confiscatory tax policy. Henry Kissinger even said “Britain is a tragedy – it has sunk to borrowing, begging, stealing”. Continue reading Thank you, Thatcher →

My chat with the CFA Institute

Global Economy, Interviews, On the cover

Here is the extract of my chat with Gustavo Teruel of the CFA Institute, published here Daniel Lacalle runs a long–short sector-focused hedge fund in London. The hedge fund concentrates on the oil and gas industry, utilities, and infrastructure. Lacalle writes a weekly column for the Spanish digital newspaper El Confidencial and a blog, Energy, Markets and Money, about his areas of expertise. Several times, he has been voted into one of the top three places in the Thomson Reuters Extel Survey (considered the leading benchmark for excellence in investment banking and asset management in Europe) Mr. Lacalle has recently written a book, Nosotros, los Mercados (We, the Markets), released 12 March 2013, about his experiences in the asset management industry. Continue reading My chat with the CFA Institute →