Spain
Spanish paper finds relationship between number of lawyers and litigation rates
Working paper published by Bank of Spain warns not to read too much into results, but finds they are useful in conducting a ‘preliminary’ evaluation of recent reforms
Linde says ECB’s stimulus package is ‘ambitious’
Luis Linde, governor of the Bank of Spain, estimates the European Central Bank will buy €100 billion of Spanish government debt under its new asset purchase programme
Impact of flight to liquidity on bonds important for policy-makers, study finds
The effects of flight to liquidity episodes on bond markets ‘are important for policy-makers’, since they are associated with ‘lower macroeconomic confidence’, research finds
Linde fears ‘revival’ of debt sustainability concerns
Concerns about the sustainability of European sovereign debt have not disappeared and could be reactivated if the economic conditions worsen, says Linde
Healthy domestic variables can smooth rating downgrades, paper finds
Good domestic variables can help a country recover from a sovereign rating downgrade, but these fundamentals have little capacity to accelerate on an ‘upgrade cycle’, research finds
Spanish working paper explores inflation dynamics
Research considers the impact of different industrial structures on the response of inflation to technology, interest rate and entry cost shocks
Spain looks to create $7.5 billion resolution fund
Spanish government publishes draft bill that will transpose the BRRD into national law and establish a national resolution fund, in preparation for the SRM
Linde: Spanish banks have ‘solid solvency position’
Bank of Spain governor says performance of Spanish banks during ECB stress tests was ‘positive’; banks face the future in a ‘solid solvency position’
Spain ‘decoupled’ from other eurozone economies, says Banque de France paper
Working paper warns Spanish economy’s convergence with eurozone is ‘sluggish and incomplete’, with the sharpest decoupling beginning a year before the sovereign debt crisis
Productivity gains in the banking industry affect interest rates, study finds
More productive banks set lower interest rates on loans and higher rates on deposits, increasing their market share, according to a study by the Bank of Spain
Trade balance improves after fiscal devaluation, study finds
European economists analyse the effects of a temporary fiscal devaluation in Spain and Portugal, finding it leads to improved trade balance
Spanish economists adapt model on business cycle conditions to forecast growth
Working paper published by the Bank of Spain extends an existing model on US business cycle conditions to forecast GDP growth in real time
Linde points to growing ‘dynamism’ in Spanish economy
Bank of Spain governor expects 2% annual GDP growth in the fourth quarter of 2014 and throughout 2015, but insists there are risks to Spanish recovery
Spanish economists see short-run benefits in structural reforms
Working paper published by Bank of Spain says product and labour market reforms could boost output and employment now and in the future
Big eurozone economies dragged each other down during eurozone crisis
Sovereign CDS in Spain and Italy showed ‘notable co-dependence' in 2009–12 and also explained much of the widening in Germany's spreads, IMF paper says
IMF praises ‘dramatic’ turnaround in Spanish bank sector
Final report on Spain’s financial sector reform programme says ‘steadfast’ implementation paid dividends, but warns of a number of alarming trends still prevalent in the financial sector
Robert Pringle's Viewpoint: The eurozone’s unfinished business
Economic adjustment and financial sector reform must go hand in hand – with the ECB due to play a central role
Linde says reforms should focus on ‘twin engines of growth’
Bank of Spain governor says reforms are needed to mitigate the country’s ageing population and boost productivity
Risk discrimination 'essential', argues Bank of Spain deputy
Fernando Restoy rebuffs 'excessively simplistic approaches that prevent capital requirements being adapted to each bank's business model'
People: Bank of Portugal appoints ‘temporary’ chief economist; Bank of Spain reveals pride in ECB hire
Isabel Horta Correia named head of economics and research ‘under temporary assignment’ at Bank of Portugal; Ramón Quintana praised by Bank of Spain for ECB success
Bank of Spain puts 'revolving door' under review
Javier Priego, the Bank of Spain’s general secretariat, is reassessing the rules governing central bank employees after they leave the institution
Bank of Spain deputy on what banking union will mean for national lenders
Spanish banking system will not face more complex challenges than those posed in other jurisdictions, says Fernando Restroy; capital levels for sector as a whole will be above 10% by year's end
Bank of Spain's Linde touts comeback of local banks
Governor says lenders' solvency position has improved noticeably from a year ago; highlights 'drastic reduction' in toxic assets on banks' balance sheet
Bank of Spain director general resigns
José María Roldán Alegre resigns after 12 years at the head of the Regulation and Financial Stability department; replaced by Julio Durán Hernández, currently director of the governor's office