Who knew that a new season of 'Lost' would feature members of the Rajoy Cabinet? I particularly like Luis de Guindos as the enigmatic, sinister John Locke. … [Read more...] about Lost
Luis de Guindos
Lost
The regions’ role in the seemingly unstoppable slide towards Spain’s bailout
Spain’s economy minister, Luis de Guindos, has insisted again that Spain will not require a full sovereign bailout. But does anyone believe him? Almost certainly not. During its seven months in power, the government of Mariano Rajoy has been repeatedly forced to backtrack on pledges and resolutions. The promise not to raise taxes has been followed by increases in income tax and VAT. The assertion that social spending would be ring-fenced has been followed by cuts to health and education. And the claim that Spain would not require a bailout for its banks…well, you guessed it. So when Guindos says there won’t be a full-blown bailout, because the Spanish economy is strong enough to withstand … [Read more...] about The regions’ role in the seemingly unstoppable slide towards Spain’s bailout
Profile: Luis de Guindos, the man behind Spain’s bank bailout
The story goes that right up to the day Prime Minister Mariano Rajoy appointed him economy minister, Luis de Guindos was unaware that he was to be landed with the job of repeating for six months that Spain didn’t need a bailout before eventually taking part in the “victory”— as described by Prime Minister Mariano Rajoy — of accepting the European Union’s offer of up to €100 billion to keep Spain’s banks afloat for a little longer. Until last December, the 52-year-old De Guindos led a quiet life, mainly employed as the director of the PwC Centre for Finance at Madrid’s IE Business School, while enjoying the benefits of sitting on the boards of several companies, among them Endesa … [Read more...] about Profile: Luis de Guindos, the man behind Spain’s bank bailout
The mystery of Rajoy and the Spanish economy
“I know about economics. I’m not an economist but I know about economics and I have aides whom I consult.” This comment, made during a recent television interview, is not very reassuring coming from a man who aspires to become Spain’s prime minister in the near future. But then Mariano Rajoy is rarely unequivocal in his handling of the conservative Popular Party (PP) he leads. According to many, his reluctance to be clear-cut and firm is typical of the ambiguous Galician character. One obvious example is Rajoy’s management of the ongoing corruption scandal rocking his party. The lack of a clear policy on this has meant that some PP politicians facing investigation for the Gürtel … [Read more...] about The mystery of Rajoy and the Spanish economy