Category Archives: Sin categoría

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 →

Front Row: Back to Basics

Global Economy, On the cover, Sin categoría

Front Row represents the personal view of Rodrigo Rodriguez, European Head of developed cash trading for Credit Suisse.

Another Friday, another Front Row, and another election another mess…. when I heard at high school that those who do not know their history are condemned to repeat it…. I was not too sure what they meant. Now clearly I do. So, a practically identical result on the Italian election to that on the first Greek one, the outlier, the anti-everything party gets fantastic results, and the guy who played by the rules gets destroyed ( I hate to say I told you so…but I DID). The market immediately sells off and then the quick bargain hunters get in hoping for a quick recovery that unfortunately only happens in the States, and today we are back to the lows…let’s hope that the repetition of the History stops there as otherwise we are about to have a shocker! Continue reading Front Row: Back to Basics →