Spain’s exports share of GDP has jumped from just 23 percent at the outset of 2009 to close to 35 percent in 2013. In March, the country registered its first trade surplus since records began in 1971, becoming the only European Union member whose sales abroad increased during the first quarter. This has unleashed a wave of optimism among foreign media, analysts and the government. “Spain's Crisis Fades as Exports Transform Country”, was the headline of a recent Bloomberg news story. Daniele Antonucci, senior European economist at Morgan Stanley, told CNBC in April that Spanish economic growth will come from outbound sales, a point of view Luis de Guindos, Spain’s minister of economy and … [Read more...] about Turbo-charged exports won’t drive Spain out of the crisis
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Tales for Tapas: Because we can
It must be nice to have sold a hundred million records. It no doubt puts a spring in the step and adds zest to the bank account. In the case of one popular American rock group, it makes it possible to throw commerce to the winds and perform for free. Ticket prices for Bon Jovi’s Madrid concert at the end of June were reduced by more than half when band members waived their own fee out of solidarity with Spanish fans enduring the rigours of austerity. (Among other things, this enables those with a curious cast of mind to calculate through rudimentary arithmetic the hourly rate that middle-aged rock stars customarily command for getting stadiums full of people to sing along rapturously to a … [Read more...] about Tales for Tapas: Because we can
What new holiday rental licences in Spain could mean
Property experts have been reassuring holiday homeowners in Spain that there's no need to fear plans to introduce holiday rental licences in the country just yet. The Spanish government's proposals to licence the rental of holiday homes have caused confusion, with many holiday homeowners voicing concerns that the new laws could act as a deterrent for people thinking of renting out their property to a tourist as they normally would. The proposals have caused some cash-strapped expats to feel uneasy, with concerns especially among those homeowners who only rent out their properties at peak times of the year. The proposals would include a tax on holiday rental income and would mean any … [Read more...] about What new holiday rental licences in Spain could mean
La Liga: Big-name exodus as season ends
On Saturday, with a wave to the hardcore Ultra fans at the final whistle, he was off. José Mourinho had made his exit after three years at the helm of Real Madrid and he was not the only one, with an exodus of big names from la liga this summer. With no major international football tournament being played this year, the summer trading has got off to a quick start with a host of big players making a quick exit. Another Madrid man, this time from across town, made a highly anticipated big-money move. Radamel Falcao, who has been a revelation for Atlético Madrid since his arrival two years ago, has been courted by a host of clubs this season, with the like of Chelsea, Manchester United … [Read more...] about La Liga: Big-name exodus as season ends
The private sector moves into Spain’s public hospitals
No sooner had the conservative Popular Party taken office at the very end of 2011 than it began drawing up plans to extend private sector involvement in Spain’s public health system, a process begun in 1997 with the support of the Socialist Party. Two years later, La Ribera hospital, built and run by a private consortium led by health insurers Adeslas, opened. Valencia has subsequently created Public Private Partnerships (PPP) in four other health districts. Other PP controlled regions, such as the Balearic Islands, Castilla y León, Castilla La Mancha, and Galicia, are also pushing ahead with the privatisation of healthcare. But Madrid is where the PP wants PPP to really come into its … [Read more...] about The private sector moves into Spain’s public hospitals
Tales for Tapas: Profitability and protection
Elvira Rodriguez, president of Spain’s Securities Commission, noted in a speech to company directors in Madrid on Tuesday that the economic crisis “has revealed weaknesses in the system of corporate governance.” Possibly a candidate for understatement of the year. Ms Rodriguez commented, among other things, on the lack of transparency which preceded the difficulties at Bankia and at Pescanova, the fishing conglomerate. She said that Pescanova was a company that had enjoyed a positive reputation and whose management were known for their wholehearted commitment, which bamboozled the supervisory authorities. These sterling qualities also offered a somewhat distorted impression to … [Read more...] about Tales for Tapas: Profitability and protection
Fracking gives Spain another headache over regional autonomy
The office of Javier Fernández, head of the Cantabrian government’s environmental department, offers a spectacular view across the bay of Santander and the rolling sea beyond. As he points it out, he proudly makes a broader point about Cantabria: it may be one of Spain’s smallest regions, but its countryside is unusually dramatic, ranging from a ragged coastline and unique rock formations explored by cavers, to snow-capped mountains prized by climbers. “This region has special values, both in terms of the landscape and the environment,” he says. Fernández explains that those natural values are what drove the region’s government to propose a law making the region Spain’s first to … [Read more...] about Fracking gives Spain another headache over regional autonomy
Spain still wrestles with immigration
Last month saw the release of the film Alacrán enamorado, the story of promising boxer Julián and his group of heavily-tattooed, neo-nazi friends, who spend their days in the ring and their nights beating up immigrants and members of ethnic minorities. Despite some strong performances, instead of tackling the complexity of the subject full on, this adaptation of Carlos Bardem's third novel is ultimately a superficial story of love and triumph against the odds. All of which is a shame, as Alacrán enamorado raises some potentially interesting questions regarding race relations in Spain. Figures published by the Spanish Institute for National Statistics reveal that immigration has risen … [Read more...] about Spain still wrestles with immigration
La Liga: Relegation battle rages
While most major leagues have wrapped up their domestic championships, La Liga continues to rumble on. And although the winners have long been crowned, the back end of the table is yet to be determined, with four teams ready to fight for their lives during the final jornada of the season this weekend. As it stands, a 3-1 defeat for 17th-placed Deportivo La Coruña at Málaga means that all four teams in the relegation spots – Depor, Celta Vigo, Real Zaragoza and Real Mallorca – still have a chance of avoiding the drop. Celta, in 18th on 34 points, won 2-0 away to Real Valladolid. Zaragoza, who also have 34 points, sit in 19th place and were thrashed 4-0 at Real Betis, while Mallorca, who … [Read more...] about La Liga: Relegation battle rages
Tales for Tapas: On the move
Germany’s employment minister, Ursula von der Leyen, was in Madrid this week to meet her Spanish counterpart, Fatima Báñez. The two ministers unveiled a scheme that could see as many as 5,000 young Spanish workers annually filling apprenticeships in Germany. Not a magic bullet for the problem of mass unemployment, but a positive gesture no doubt from Europe’s prosperous north. Meanwhile, Public Works Minister Ana Pastor was in Brazil, where she suggested the Brazilian economy might benefit from the expertise of Spanish engineers unable to find work at home. Spain is Brazil’s largest investor after the US, and Spanish exports to the country were worth €2.82 billion in 2012, a figure … [Read more...] about Tales for Tapas: On the move