Oct 312013
 
An end to the recession in Spain?

So, the Institute for National Statistics in Spain (see: INE in English) has just announced that the Spanish economy has grown – for the first time in two years.  The growth is actually minuscule at 0.1% (over the past three months) and is unfortunately 1.2% down – year on year.  However, it is positive news and begs the question as to whether it points to a true end to the recession in Spain? On a […]

Apr 102013
 
The Spanish economy, light at the end of the tunnel?

In my last Post, I commented that I felt that the worst of the Spanish property crash was possibly ‘over’ and that certain types of properties are probably bumping along the bottom of their downward price range. This, obviously, begs the question as to whether the Spanish economy itself is actually stabalising? Well, any pronouncements about the Spanish economy have to be made with the very greatest care, most particularly if they concern anything to […]

Feb 202013
 
The black economy in Spain

One notable aspect to Spain – that relates directly to the economic problems of the country – is the size of the black economy in Spain. Indeed, you only need to try buying a business in Spain to find out all about Spanish ‘book keeping’ and the black economy. Recently, I was looking at a business and investigating its accounts.  However, the result of me asking to see the books (of a hotel and restaurant, […]

Jan 292013
 
Nation building, an analysis of the infrastructure of Spain

I have just been sent this article, by my pal Rod Younger, about the infrastructure of Spain since 1720.  It deserves attention (despite its very dry title), as it highlights some of the problems that are inherent in Spain and that are becoming very obvious during the present economic crisis.  One of the things that I have been ‘banging on about’ for some years relates to the serious structural defects of the Spanish economy and […]

Jan 142013
 
Interesting facts about the Spanish economy

I was recently directed to an article with some really interesting graphics about the Spanish economy – which I consider profoundly important. They relate to the use of transport in Spain, which may immediately turn you off!  Indeed, I can almost hear the yawns from here however these are really important facts about the Spanish economy that you should know! The graphics  in the above article are extremely useful in showing the impact of the […]

Jan 102013
 
Spain and the year ahead – 2013

So – we enter the New Year, 2013, after a tumultuous year for Spain in 2012, in which the country entered into the perfect storm, economically. 2012 saw unemployment in Spain reach an average of 26.6% as a whole, with some areas far exceeding that dreadful figure.  Meanwhile, some 55% of under 25 year olds have no work and little prospect of finding it – with some 426,000 more people unemployed in Spain, than at […]

Jan 092013
 
Unemployment in Spain: government engineered, but what’s the alternative?

So, just over a week into the New Year, and the bleak economic news out of Spain starts to roll out. Unemployment hit a fresh high of 26.6% in November, according to the European Commission yesterday, among wider news that 18.8 million people are now jobless in the Eurozone. As you can probably guess, this means Spain still has the highest unemployment in the currency union, with the figure jumping to an abominable 56.5% for […]

Dec 062012
 
10 solutions to the crisis in Spain!

In a recent Post (The crisis in Spain and the fundamentals of the economic breakdown) I assessed the current situation in Spain and came up with a rather gloomy prognosis.  However, at the same time, I did say that there were a lot of things that could be done to improve matters. Whilst I do not think there are any quick ways to restore Spain to its past economic health, I believe that some matters […]

Dec 052012
 
Euro hits six week high as Spain’s banks bailed out

Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 28th November to 5th December 2012. This is meant as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. The euro’s run of good luck extended for a fourth week this week, taking the common currency to its highest point against the pound and US […]

Dec 032012
 
The crisis in Spain and the fundamentals of the economic breakdown

There is a severe crisis in Spain – which is something that even the Spanish finally recognize.  They have been slow to do so, frankly, having spent the past five years either in disbelief or in an unrealistic expectation that all will be well shortly.  This has been endearing but incredibly naïve. It is also equally naïve for the Spanish (or anyone else) to believe that the crisis in Spain will be resolved once the […]

Nov 212012
 
Euro unchanged on Catalonia vote, Spain’s competitiveness

Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 14th-21st November. This is meant as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. The euro sat all but unchanged against the pound this week, keeping to the 1.24 range, as it has done for almost four weeks now. Against the US dollar, the common […]

Oct 312012
 
Euro falls as Spanish retail sales plummet

Welcome to the Pure FX account of the latest changes in the euro exchange rate. This covers the 24th to 31st October 2012. This is meant as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Latest exchange rate changes Pound to euro: 1.2305 to 1.2399 (+0.764%) Pound to US dollar: 1.5987 to 1.609 (+0.644%) Euro to US dollar: 1.2991 to 1.2976 […]