2013 Spanish economy prediction.

This topic contains 6 replies, has 7 voices, and was last updated by  Chopera 4 years, 10 months ago.

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  • #57104

    DBMarcos99
    Participant

    Idealista recently printed this interesting chart. Note that Citi Bank are substantially more pessimistic in their outlook for 2013 than Deutsche Bank.
    I’m inclined to think Deutsche’s prediction (and a 1% decline is still bad news) will be the most realistic as they are a European based institution. However SocGen really should have good insights into the economy too (they have a major presence in Madrid’s financial sector) so it’ll be interesting to see which of those two banks have the better prediction.

  • #112853

    Fuengi (Andrew)
    Participant

    do you know if the chart takes into account inflation, etc…?

  • #114657

    Anonymous
    Participant

    This is bad news for anyone who hopes to live off their Spanish pension in the not-too-distant future:

    Spain Plunders 90% Of Social Security Fund To Buy Its Own Debt

    Mind you, the UK and US public pension plans are all bust too, so it’s not just Spain.

  • #114667

    Anonymous
    Participant

    @Mark: This is breach of contract i.e. the citizen & the state & these Government should be taken to Courts.

  • #114690

    GarySFBCN
    Participant

    No opinion from me on this – I’ll let the “experts” here fight about it.

    From the New York Times:

    A Mending Spain Finds Willing Bond Buyers

    MADRID — January is turning out to be a bumper month for Spain and some of the euro zone economies most in need of debt financing, with governments and companies flooding the market with bonds that have sold at significantly lower interest rates than just a few months ago.

    http://www.nytimes.com/2013/01/18/business/global/18iht-spaindebt18.html?emc=tnt&tntemail1=y&_r=0

  • #114696

    katy
    Spectator

    Yes, it’s a win, win situation with the ECB virtually underwriting them…for now :mrgreen:

  • #114698

    Chopera
    Participant

    I thought the Spanish government had been using my pension fund to buy them:

    viewtopic.php?f=2&t=6484

    Anyways, let’s hope they’re taking this opportunity to sell them.

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