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In Europe 29th March 2012

Spain is not Sweden, but it could have been

By Luis Arroyo, in Madrid | In this post of economistsview, by Economics professor Mark Thoma, there is a number of charts of several countries and their evolution post-financial crisis. The aim is to probe whether such crises leave temporary or permanent effects. Here I select the one about Spain, where we can see its GDP. In mid-1973, the first oil crisis came in and Spain’s GDP sort of missed its natural path, which never regained. Well, this is old news, many would say: during the…

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Companies 21st March 2012

Inditex plans to increase dividend by 12.5pc to €1.8 per share

For Spain’s Inditex, weathering the crisis isn’t near enough: the company seems ready for a full combat. Inditex board will submit a proposal to the annual general meeting of shareholders in July for payment of a dividend of €1.80 per share, an increase year on year of 12.5pc. This dividend will consist of a €0.9 per share interim dividend payable on 2 May 2012 and a €0.90 per share final…

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In Europe 13th March 2012

Schroders: neither austerity, nor monetary expansion but a Marshall Plan

LONDON | Investment house Schroders brings in its latest ‘Economic and Strategy Viewpoint‘ the final word about austerity versus money printing. It is a conciliatory one. Well, sort of: chief economist Keith Wade and Europe economist Azad Zangana set the record seamless and believe each team is right, at least, about the other team: they all are wrong. On one hand, Wade and Zangana say they hold the “belief that…

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Spanish economy 24th February 2012

De Guindos to explain Spanish plan to grow

“We have a plan to combine fiscal consolidation with structural reforms in order to jumpstart growth in the country and help stabilize the euro area.” This was the core message of the Spanish minister of Economy and Competiveness Luis de Guindos’ speech on Friday at the Brookings Institution, a center-left Washington-based think tank. In his first official trip to the US, De Guindos also held a meeting with the most…

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In Europe 21st February 2012

An alternative to austerity, 12 EU countries demand

The letter that the heads of government of twelve EU countries, including Spain’s Mariano Rajoy, sent to Brussels presented an eight point programme to promote economic growth in the European Union. It was addressed to the president of the European Council Herman Van Rompuy and that of the Commission, Jose Manuel Durao Barroso, yet was not signed by either Germany or France, the two main economies of the euro zone…

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Markets 3rd February 2012

Mild recession but EMU intact, says NIESR

LONDON | The London-based National Institute of Economic and Social Research on Friday put its baseline forecast for global growth on 3.5% for 2012. The NIESR gave next year a slightly higher growth rate probability of 4%. In both cases, the Institute assumes a downward revision of about 0.5 percentage point in each year compared to its last forecast. The NIESR warned that the financial instability resulting from the euro crisis, combined…