The Minister of Social Security, Josà © Luis Escrivá, said a few days ago in an interview with the newspaper ‘Financial Times’ that the unemployment forecasts of the OECD and the Bank of Spain that placed unemployment in Spain by over 20% at the end of 2020 “had completely failed”. And technically he is right, […]
Tag: Bank of Spain
The bank closes the tap on business and consumer credit and warns of “additional liquidity tensions” in spring
The banks close the tap on credit to companies given the deterioration of the economic outlook for 2021 and the foreseeable increase in the delinquency ratios on their balance sheets in the first months of the year. The entities reduced their financing offer in the last quarter of 2020 and plan to continue doing so […]
“Recovering employment is essential to return to confidence in 2021”
Consumer credits have been an important tool for reactivating the economy in the midst of a pandemicBut big challenges are faced as consumption has plummeted and there is uncertainty about the economic outlook. The purchase of goods and services has plummeted and in the second quarter of 2020 there was a 20% drop in new […]
Montero advances that the deficit closed 2020 at around 11.3% of GDP
The Minister of Finance, Maria Jesus Montero, has advanced that the public deficit closed 2020 according to the forecast estimate of “around 11.3% of GDP”, with a fall in public income of about 7.6% as a consequence of the Covid crisis. This is what Montero has indicated in an interview with Europa Press, in which […]
The Euribor marks its fifth consecutive all-time low after six months of falls due to the ECB’s policies against the pandemic
The 12-month Euribor, the indicator most used in Spain to calculate mortgage payments, its fifth consecutive historical minimum will be recorded in December. This will mean a reduction in mortgages that will review their installment soon. In the absence of definitive data and subsequent confirmation from the Bank of Spain, the Euribor averaged -0.496% in […]
Unicaja and Liberbank, a forced merger open to integrating with a third party: “Everything is possible”
The Spanish banking sector has entered into a dynamic of consolidation so marked that not even entities that announce their merger rule out taking advantage of the opportunity, if it arises, to carry out a new merger with another bank. “Everything is possible”, they admitted yesterday Manuel Azuaga, president of Unicaja, and Manuel Menendez, CEO […]
Hernández de Cos criticizes that the election of the governor of the BdE depends only on the president of the Government
Pablo Hernández de Cos rejects that the Governor of the Banco de Espaà ± a, that is, the position that he himself holds, is appointed directly by the Prime Minister and proposes “give Parliament greater prominence”in that process, as well as in the election of” the deputy governor and the unborn members of the Governing […]
Nine out of 10 SMEs have seen their income fall due to COVID-19 and half fear for its viability in 2021
Small and medium-sized companies, the overwhelming majority of the Spanish productive fabric, are beginning to shape their balance at the end of the year, including, as they anticipated, sharp falls in their income. Nine out of 10 confirmed this according to the SME barometer, a periodic study carried out by the employers’ association that groups […]
The Bank of Spain warns that the boost from European funds will remain at half of what the Government promised
The Government, through President Pedro Sánchez himself, affirmed that the boost from European funds would be so intense already in 2021 that the Gross Domestic Product (GDP) of Spain would register a very notable additional boost of up to 2 , 6 points. The data generated certain doubts among not a few analysts at the […]
The Bank of Spain warns that up to 10% of companies are at risk of liquidation
Spanish companies will emerge from the coronavirus crisis with a very deteriorated income statement and a serious solvency problem due to the increase in debt that many of them have had to face to survive during the economic downturn. Those that come out, because according to the Bank of Spain there is a risk that […]
