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One Of Spain’s Largest Hydro-Power Plants To Halt Operations As Drought Worsens
One Of Spain’s Largest Hydro-Power Plants To Halt Operations As Drought Worsens A large drop in renewable energy output is forcing Spain to increase natural gas demand to generate electricity at a time Europe is in the worst energy crisis in a generation. Spain’s hydropower output has been halved this year due to drought, and things could […]
The Imbecile King who put his foot on the pedal
The Imbecile King who put his foot on the pedal Charles II was only three years old when he became the supreme ruler of the Spanish Empire in 1665. But anyone who took just one look at the child knew they were all doomed. Charles had come from a long line of prominent European nobles […]
Conflict In North Africa Threatens Gas Supply To Europe
Conflict In North Africa Threatens Gas Supply To Europe A diplomatic crisis between Morocco and Algeria threatens gas supply to Spain Spain considers importing more (expensive) LNG Algeria faces a number of problems in expanding its gas market share in Europe European natural gas supplies are not only waning because of lower Russian supply. Brussels, […]
Spanish Energy Markets Roiled Amid Chilling Temps
Spanish Energy Markets Roiled Amid Chilling Temps A cold snap across Spain is expected to last through mid-January has resulted in natural gas prices more than doubling in the last week, according to Bloomberg. LNG prices trading at Spain’s Punto Virtual de Balance (PVB) gas trading hub hit a record 51.55 euros ($63.13) a megawatt-hour this week, […]
Anti-Lockdown Protests All Across EuropeIncreasingly draconian lockdown measures, economic destitution, and sweeping police powers are evaporating public trust and eroding public patience.
Anti-Lockdown Protests All Across EuropeIncreasingly draconian lockdown measures, economic destitution, and sweeping police powers are evaporating public trust and eroding public patience. As the alleged “second wave” of the Coronavirus “pandemic” is reported to be sweeping across Europe in recent weeks, many governments have enthusiastically embraced their totalitarian side and granted themselves sweeping new “emergency […]
Life Under Draconian Lockdown: I Can Barely See the Light at the End of this Long, Dark Tunnel
Life Under Draconian Lockdown: I Can Barely See the Light at the End of this Long, Dark Tunnel The process of reopening Spain has been dubbed, rather ominously, “Operation New Normality.” “Is there any light at the end of this long dark tunnel?” That’s a question many people are asking themselves in Spain, whose government […]
The Crisis in Catalonia & What I Saw in Our Neighborhood in Barcelona
The Crisis in Catalonia & What I Saw in Our Neighborhood in Barcelona As separatist region is rocked by violence, businesses sound alarm. Two of Catalonia’s biggest business associations, Foment de Treball and Pimec, have called for calm and dialogue after ten days of non-stop political and civil unrest in the separatist region of Spain. At a […]
Spain’s Catalonia Crisis Just Got a Lot Worse
Spain’s Catalonia Crisis Just Got a Lot Worse Massive peaceful protests, along with days of violent clashes, demonstrate that the fight over this region’s independence movement affects the entire country and is far from over. “Now that the verdict’s out, it’s time to start getting along,” Spanish Prime Minister Pedro Sánchez said at a press […]
Spain Battles Self-Combusting Manure As “Heat-Wave From Hell” Torments Europe
Spain Battles Self-Combusting Manure As “Heat-Wave From Hell” Torments Europe Update (1240ET): Temperatures were even hotter than expected across Europe today and, as Accuweather reports, the extreme heat wave is suspected of killing several people as it set an all-time high in France. The highest temperature ever measured across France in the entirety of record keeping was […]
Now Spain proposes to go 100% renewable
Now Spain proposes to go 100% renewable The list of countries, states, cities and towns that have announced ambitious plans to go 100% renewable continues to grow. The latest entrant is Spain, which according to the Guardian plans to switch to 100% renewable electricity by 2050 and aims to fully decarbonize the country’s economy shortly after. Evaluating […]
Spain’s Supreme Court Flip-Flops on Mortgage Ruling After Just 1 Day Amid Bank Stocks Bloodbath, Legal Shitstorm Erupts
Spain’s Supreme Court Flip-Flops on Mortgage Ruling After Just 1 Day Amid Bank Stocks Bloodbath, Legal Shitstorm Erupts Plunging bank stocks got the Court’s attention, or something. That was fast: Spain’s Supreme Court on Friday flip-flopped on its own ruling announced on Thursday that had sent bank stocks plunging. It started like this: Thursday morning, […]
Spanish Yields Blow Out Amid Italy Contagion As Italian Banks Scramble For Dollar Funding
Spanish Yields Blow Out Amid Italy Contagion As Italian Banks Scramble For Dollar Funding Contagion from the recent surge in Italian yields has spread, and is hitting Spanish 10Y yields which over the past 3 days have blown out from 1.65% to as high as 1.82% this morning, before paring some of the move, printing […]
Spain: IMF Highlights Rising Risks
Spain: IMF Highlights Rising Risks The International Monetary Fund can be criticized for many things, but its analysis of countries’ debt risk tends to be worth a read. In this case, the International Monetary Fund has once again warned Spain of the risk of reversing reforms and increasing imbalances. It asks to deepen in the labor reform […]
No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks
No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks To diversify from the euro-debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, they’re in a new crisis. Almost exactly six years ago, the Spanish government requested a €100 billion bailout from the Troika (ECB, European Commission and […]
Why Are ATMs Disappearing at an Alarming Rate after a Wave of Branch Closures?
Why Are ATMs Disappearing at an Alarming Rate after a Wave of Branch Closures? Banks are curtailing “cash services.” But why? In Australia, banks are reducing ATMs by about 8% a year. In the UK, ATMs — or cashpoint machines, as they’re termed locally — are disappearing at a rate of around 300 per month, […]
