The City doesn’t trust Merkozy’s Europe

Robert Casajuana's picture

I was on my way to my office in the City of London last Friday morning when I realised that Cameron had taken a big decision in Europe. When you are dealing on a trading desk you try to guess the effect of these political decisions on the financial assets more directly related to it and affected by it. And believe me, in the last couple of years this has been a constant challenge for us bond traders.

Cameron’s was a big move, a big decision, a brave answer to Europe or a cowardly one depending on the point of view taken.

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Municipal governments in Spain

Maite Vilalta's picture

Municipal governments in Spain: a situation asking for changes

What do municipalities do in Spain? 13% of the Spanish State’s public spending corresponds to local administrations. This percentage is not very different from the figures from, approximately, 30 years ago, which was 11%. It is far from the 20% average in federal countries. In Spain, an important decentralisation process has been accomplished, which has fundamentally gone in a single direction: from the central government to the autonomous community governments.

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