International Economics

Spanish economy: growing at last but hardly denting unemployment

William Chislett. Expert Comment 35/2014 - 19/5/2014.

The Spanish economy is now firmly out of recession and jobs are beginning to be created, particularly in the services sector, but the stubbornly high unemployment rate will not dip below 20% until 2017, according to the government’s forecasts.

How to Fix the Euro. Strengthening Economic Governance in Europe

A joint Chatham House, Elcano Royal Institute and AREL report. Stephen Pickford, Federico Steinberg and Miguel Otero-Iglesias. March 2014.

This report examines why the economic and monetary union (EMU) was so badly affected by the crisis, and assesses whether further changes need to be made to the structure of economic governance that underpins it.

Spain: foreign direct investment on the rise

William Chislett. ARI 19/2014 - 25/3/2014.

The growth in foreign direct investment in Spain in 2013 underscores the increased international confidence in an economy that is beginning to recover from a five-year recession, albeit weakly.

China: bracing itself for financial turbulence

Miguel Otero-Iglesias. Expert Comment 18/2014 - 7/3/2014.

The Chinese financial markets might have to see a few market players stumble and fall in order for the reform process to continue its course on a sustainable path.

US-EU trade negotiations: what is at stake?

Federico Steinberg. ARI 13/2014 - 6/3/2014.

The trade negotiations between the EU and the US are motivated more by geopolitical than economic considerations.

Spain’s banking crisis: a light in the tunnel

William Chislett. ARI 11/2014 - 21/2/2014.

The Spanish banking system, hard hit by its massive exposure to toxic real estate assets following the collapse of the country’s property market in 2008, is on the mend.

The Geopolitics of the TTIP seen from Beijing

Miguel Otero-Iglesias. Expert Comment 78/2013 - 11/12/2013.

Chinese officials have the suspicion that both the currently negotiated Trans-Pacific Partnership (TPP) agreement and the TTIP project pushed forward by the Obama Administration have economic but also geopolitical objectives.

Spain’s exports: the economy’s salvation

William Chislett. ARI 47/2013 - 4/12/2013.

Spain’s striking export success has enabled the economy to emerge from recession and helped to turn around the current-account balance. Structural adjustment is shifting the engine of the economy from domestic sources of growth into an export-led model.

Nabucco’s coup de grâce

José Miguel Roncero and Enrique San Martín. Expert Comment 71/2013 - 12/11/2013.

On 28 June 2013 the Shah Deniz Consortium (SDC) took a historic decision that put an end to a decade-long pipeline race to bring Central Asian gas to Europe. The big loser was Nabucco, a project that the European Commission once considered ’strategic’ for the opening of the Southern Gas Corridor.

Whose Central Bank?

Federico Steinberg. Expert Comment 68/2013 - 29/10/2013.

Recently, a further subject for debate has appeared concerning the ECB’s policies which, although less newsworthy than its position on the purchase of public debt in troubled economies, may be even more important for the euro’s future: what to do in view of the fall in the inflation rate.