We are on the eve of the meeting of the Governing Council of the European Central Bank on monetary policy. The coin is in the air and we don’t know if it will land heads or tails. If there is an increase in interest or a stop. Where Cruz came out was at the meeting of the Governing Council to elect the new president of the Single Supervisory Mechanism, the MUS.
Germany nominated its candidate, Claudia Busch, and the ECB rejected Spain’s candidate, Margarita Delgado. A defeat that opens the way to the presidency of the European Investment Bank for the vice president, Nadia Calviño. Let’s see how the coin falls here.
Now his cabinet partner, the second vice president, Yolanda DÃaz, is taking advantage of her time in Congress to put distance and duties, precisely, in economic policy. He demanded a change in the economic policy in defense of large Spanish companies, which he called strategic, such as Telefónica and the steel company Celsa, which could end up in the hands of their creditors through judicial that decision. Diaz asked for improvements in the business defense network before the entry of the Saudis from STC to the operator.
Not only that, he asked to recover the golden section, the ability of the Government to veto any operation of the big companies. And he delivered this message to his colleague Calviño. Later, he insisted on reducing working hours and raising the minimum wage.
In the world of work, the OECD report on unemployment appeared today. Spain continues to lead the rate of unemployment among the most developed countries on the planet. Spain is the only OECD country with unemployment above 11% and, along with Greece, the only one with double-digit unemployment. And all this when Europe opened a trade war against China. Brussels will examine Beijing’s aid for electric cars as announced by Von der Leyen.
The European recession is looming in Germany and on the other side of the channel, in the United Kingdom when inflation rose in the US to 3.7% due to fuel.
Also in ‘The Compass’
Today the business information front is wider than the Chinese wall. First, Morgan Stanley will keep the Saudi STC shares in Telefónica if the Government vetoes the Arab investors. Second, the Danish pharmaceutical company Novo Nordisk stands out, which with its results has improved the beginning of the Danish economy. Third. Inditex presented a suit of 2.5 billion euros in profits. A record. And Adolfo DomÃnguez did not miss a wrinkle in his new line of business: rent clothes and accessories for 4 to 8 days.
