Mario Draghi: the closest thing the Eurozone has to a leader? Who leads the Eurozone? Having “saved” the euro last year, I think that title belongs to Mario Draghi, head of the ECB. This article looks at why that is, and why it’s less than ideal. One of the things for which Henry Kissinger is famous for asking is, “Who do I call, if I want to talk to Europe?” Well, the European Commission may have a President, in the form of José Manuel Barroso, but I doubt that anyone thinks he’s where the power in Europe lies. He’s closer to a glorified bureaucrat. Meanwhile, others might say that Angela Merkel is where power truly lives on the continent. Germany is after all Europe’s biggest … [Read more...] about Mario Draghi: the closest thing the Eurozone has to a leader?
Archives for January 2013
Leaving the water running
History was made this week in Spain. For the first time that anyone can seem to remember, a political party admitted to corrupt practices. The party was Catalonia’s Unió, part of the region’s CiU governing coalition, and the corruption was the funnelling of €388,000 of EU funds meant for job training into the party’s coffers in the 1990s. Much of that cash was spent on furniture in Unió’s offices and on paying wages to party staff who, it transpires, didn’t actually do anything. So the admission of guilt was welcome at a time when corruption seems to have become such an endemic part of Spanish politics. But the reason for Unió’s admission is that it is part of a pact with the State … [Read more...] about Leaving the water running
Life and trials of the rebel colonel
Seventy-four-year-old Colonel Amadeo Martínez Inglés certainly looks every bit the retired military officer as he marches in his uniform towards the little crowd outside the court. But he doesn’t sound like a typical army colonel. “The Third Republic will soon be born in Spain!” he declaims to the applause of his gathered supporters before entering the Audiencia Nacional, the high court that deals with terrorists, international gangsters and drugs traffickers, to face a 15-month prison sentence for his insults against the king. It’s April 2012 and he is accused of “Calumnies and Injuries Against the Crown” under Penal Code Article 490.3, a law which has already been quashed by the … [Read more...] about Life and trials of the rebel colonel
La Liga: Messi’s Ballon d’Or highlights gulf dividing Barça and Real
As liga action resumed after a short break for Christmas, it seemed not much had changed in Spanish football. Barcelona continued their winning run and got their manager Tito Vilanova back following surgery after his cancer was found to have returned, José Mourinho was still stirring the pot at Real Madrid by continuing to leave Iker Casillas on the bench, Fernando Llorente still wants out of Athletic Bilbao and Lionel Messi once again stood in Cristiano Ronaldo’s way to take the FIFA Ballon d’Or. The Argentine was awarded the prize for the fourth consecutive time in Zurich on Monday night, beating teammate Andrés Iniesta and the Portuguese forward to the prestigious honour in a year when … [Read more...] about La Liga: Messi’s Ballon d’Or highlights gulf dividing Barça and Real
2013: Another rough ride for Spain
Last year presented probably the toughest baptism of fire for any Spanish prime minister since the transition to democracy, but Mariano Rajoy knows that this year will be just as challenging. The big problems facing his government in the coming months are, for the most part, those that dominated 2012: the markets and a pending bailout; rising unemployment; lack of growth; social unrest; and Catalonia’s push for independence. The bailout presents perhaps the most vexing problem for Rajoy, because it demands decisiveness from a notoriously equivocal politician. Although Spain’s borrowing costs have dropped from their alarming levels last summer following Mario Draghi’s assurances … [Read more...] about 2013: Another rough ride for Spain