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 […]

Nov 282012
 
Euro rises as Catalan secession hopes falter

Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 21th-28st 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 continued its upward march against the pound and US dollar this week, meaning it’s climbed almost uninterrupted against both currencies for three weeks now. These gains were particularly […]

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 […]

Nov 142012
 
Euro slides as Spain holds general strike

Welcome to the Pure FX account of changes in the euro exchange rate. This covers the 7th to 14th November 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 GBPEUR: 1.2458 to 1.2505 (-0.168%) GBPUSD: 1.5986 to 1.5885 (-0.632%) EURUSD: 1.276 to 1.2718 (-0.329%) The euro fell for the third week running this […]

Nov 072012
 
The Spanish disillusion with politicians in Spain

If there is one universal complaint amongst Spaniards then it is about the quality of Spanish politicians.  Ask virtually any Spaniard what he thinks and he will be utterly contemptuous of politicians in Spain – who are perceived as being incompetent, corrupt and wholly self-serving. Indeed, over the past year or so there seems to have grown a complete disillusion about the political system in Spain.  All the parties, it is claimed, are the same […]

Oct 232012
 
Troubled Spain, the reality of the current political and economic situation

The past few weeks have seen Spain back in the media spotlight, with a torrent of reports from around the world describing the crisis in Spain.  I have seen text and images of so-called middle class Spaniards searching city bins for food and violence by the police against demonstrators.   Meanwhile the ‘Spain too big to fail, too big to bail’ mantra seems to epitomise the country’s present situation – a limbo-like teeter on the edge […]

Oct 102012
 
Euro rises, but Rajoy's complacence is causing the “pauperisation” of Spain

Welcome to the Pure FX account of changes in the euro exchange rate, covering the 3rd to 10th October 2012. Quite miraculously, the euro has continued to gain against the UK pound this week, as market patience with Spain holds out. For more than a month now, investors have been waiting to see whether Mariano Rajoy will accept a state bailout, with yields on benchmark Spanish bonds falling beneath 6.0% on the belief that he […]

Oct 032012
 
Spain bailout optimism boosts the euro, but social unrest builds

Welcome to the Pure FX account of changes in the euro exchange rate, covering the 25th September to 3rd October 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. Exchange rate changes this week GBPEUR: 1.2576 to 1.2503 (-0.58%) GBPUSD: 1.6231 to 1.6115 (-0.715%) EURUSD: 1.2902 to 1.2893 (-0.07%) The UK pound has fallen against the euro […]

Sep 272012
 
Demonstrations in Spain, a dangerous spasm of despair

I sense a change occurring in Spain – which is manifest in the on-going street demonstrations in Spain (particularly in Madrid and Barcelona) and from conversations with Spanish friends, of all ages. Finally, I think the Spanish have come to the conclusion that their country and way of life is in very deep trouble.   This may have seemed obvious to many of us for several years but has not been really apparent amongst the Spanish.  […]

Sep 252012
 
Euro falls on market impatience with Spain over bailout

Welcome to the Pure FX account of changes in the euro exchange rate, covering the 18th September to 25th September 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. Exchange rate changes GBPEUR: 1.2407 to 1.2576 (+1.362%) GBPUSD: 1.6251 to 1.6231 (-0.123%) EURUSD: 1.3096 to 1.2902 (-1.481%) And the euro plummets! As I predicted in my last […]

Sep 112012
 
Rajoy to blink and accept European Central Bank aid?

Welcome to the Pure FX account of changes in the euro exchange rate, covering the 4th September to 11th September 2012. This is intended as a brief guide to movements in the euro this week, to put you in the best position when you exchange currencies. Exchange rate changes: Pound to euro: 1.2597 to 1.2523 (-0.587%) Pound to US dollar: 1.5888 to 1.6007 (+0.749%) Euro to US dollar: 1.2614 to 1.2781 (+1.324%) Another one in […]