This season, there have been very few quiet weekends in the Spanish capital and on Saturday evening, one decision by José Mourinho opened the floodgates. At around 7pm, with just over an hour to go to kick-off, the press began circulating the news. Club president Florentino Pérez was caught on camera, peering at the phone of a Canal+ presenter to read the extraordinary line-up and appearing bewildered. When the starting eleven was confirmed a few minutes later, it was clear why. Club captain and World Cup winning goalkeeper Iker Casillas was dropped to the bench and replaced in goal by Antonio Adán. The man dubbed ‘San Iker’ for the miracles he performs in front of goal for Los … [Read more...] about La Liga: The end is nigh for José Mourinho
Archives for December 2012
What does 2013 hold in store for the euro?
For my part, I’d say the leaders of the Eurozone have pretty good reason to feel okay about how 2012 has gone. After all, they overcame the biggest challenge facing the currency union, that of doubts about its continued survival, while making big progress on a banking union, and keeping all its members on-board. I don’t think we should under-estimate just what an accomplishment this is. Back in July, when all you could read about were the inevitable Greek exit, Spanish bankruptcy, or wholesale Eurozone collapse, I moved quite a bit of my savings out of my Spanish account (I’m based in Madrid) to the UK, I was that concerned. For us to look at where we stand now and say, well, Greece … [Read more...] about What does 2013 hold in store for the euro?
The argument for Spanish in Catalan schools
Last week offered a highlight in the debate over the law proposed by Education Minister José Ignacio Wert. Josep Antoni Duran i Lleida, one of the leaders of the Catalan nationalist CiU bloc, revealed in a speech to the Spanish parliament that in Catalonia, “often the majority language in the schoolyards is not Catalan, it regrettably continues to be Spanish”. How much Spanish would not be cause for regret? Or should no Spanish-speaking children use their native language? In the schoolyard, i.e. during recess. During lessons they already cannot use it, except in Spanish language class. Certainly, there are shades of grey, but this is the overall policy that is being implemented in … [Read more...] about The argument for Spanish in Catalan schools
La Liga: Fallen hero Llorente eyes Bilbao exit
When Athletic Bilbao took to the pitch at the Iberostar Stadium at the weekend, Fernando Llorente was on the bench. It is a place the once-talismanic striker has become accustomed to, as he has been occupying that spot pretty much all season. He wasn’t needed as Aritz Aduriz's 11th-minute header condemned Real Mallorca to defeat – for the ninth time in 11 league games. The visitors went ahead early on at the Iberostar Stadium with their first serious attack as Andoni Iraola – who has returned after missing several weeks through injury – launched a high ball up to the far post, where Aduriz rose to head into the far corner of the goal. However, the visitors had goalkeeper Gorka … [Read more...] about La Liga: Fallen hero Llorente eyes Bilbao exit
The ‘Spanishization’ crusade of José Ignacio Wert
If we take a quick look around Spain today we see a number of issues that are clearly in need of urgent action: the judicial system is facing the rebellion of judges who are sick of the political manipulation of justice; thousands of tax-dodgers enjoy the protection of the state while tax-haven whistleblower Hervé Falciani languishes in a Spanish prison; the police are exposed as criminally complicit in a number of cases of financial scandal and political dirty tricks, as well as grossly incompetent in investigating serious crimes; the wave of suicides caused by mortgage repossession continues unabated; and leading figures from all political parties and even the royal family are on trial as … [Read more...] about The ‘Spanishization’ crusade of José Ignacio Wert
Euro climbs as Eurozone banking supervisor agreed
Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 7th to 14th December 2012. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Down, but not for long? The euro gained against the pound and US dollar this week, reversing all of last week’s losses, as Eurozone leaders agreed a single banking supervisor for the currency zone. This takes the Eurozone a step closer to genuine fiscal union, and has been widely cheered by the financial markets. To be sure though, it hardly means the Eurozone is out of the debt crisis woods, and the agreement masks big … [Read more...] about Euro climbs as Eurozone banking supervisor agreed
Rajoy’s difficult year
A year after he took office on December 21, 2011, many Spaniards would be forgiven for asking: who is Mariano Rajoy? His first 12 months in power have been so full of contradictions that a clear image of the Spanish prime minister is yet to emerge. His conservative Partido Popular (PP) has one of the biggest congressional majorities Spain has seen. And with it, his government has embarked on one of the boldest reform programs of the democratic era, with opponents frequently accusing it of authoritarianism. Yet still Rajoy is seen as hesitant and equivocal, a politician being led by events and EU orders, rather than leading his people. “Mariano Rajoy governs without his own voice, … [Read more...] about Rajoy’s difficult year
La Liga: Barça win again as Messi is crowned king
On Wednesday night the Camp Nou was silenced. It was the worst sight for Los Culés, Lionel Messi, who had no need to be on the pitch with his FC Barcelona side having already qualified for the knockout stage of the Champions League, was stretchered off in considerable pain. It was meant to be a night of celebration, a night when the Argentine would set an incredible new record but it ended on a sour note. Many feared it could be a long-term injury to his knee with even the man himself admitting: "I thought it was the last shot I was going to have for a long time…for a moment I thought the worst." but he was back on the pitch at the Benito Villamarín stadium on Sunday night, fit and … [Read more...] about La Liga: Barça win again as Messi is crowned king
Euro rally ends as ECB hints at rate cut
Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 30th November to 7th December 2012. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. If you plan to transfer money to Spain or Portugal, there may finally be some good news for you from the foreign exchange market this week. This is, the euro’s six-week rally against the pound and US dollar has come to an unceremonious end, as the European Central Bank hints it might cut interest rates below 0.75% in 2013. This was widely unexpected and caused the euro to lose more than a fortnight’s gains against sterling in … [Read more...] about Euro rally ends as ECB hints at rate cut
Businessman’s arrest highlights Spanish corporate failings
The arrest of the former head of Spain’s employers’ association should come as a shock. Sadly, it is more likely to be interpreted by the international community as yet another indication of the many deep-rooted and extensive problems that afflict this country, the most important of which is a lack of transparency in politics and business, along with a failure to implement corporate governance practices. Anybody with a passing interest in the business dealings of Gerardo Díaz Ferrán will not be surprised to learn that on top of all the other charges he faces, he has now been accused of fraudulent conveyance and money laundering relating to the sale of the Viajes Marsans travel group in … [Read more...] about Businessman’s arrest highlights Spanish corporate failings