Articles
Paradoxical stress test results: Banking resilience amid rising uncertainty
The 2025 stress tests by the Fed and EBA revealed stronger-than-expected resilience, despite harsher adverse scenarios. Improved profitability and net interest margins drove smaller capital depletion, challenging conventional expectations.
NextGen EU funds: A transformation that has yet to arrive
Autores:
Área financiera y digitalización
Spain has led the EU in securing and allocating recovery funds, but actual disbursement and material execution remain slow. Heavy reliance on current expenditure and fragmented projects risk undermining the program’s structural impact.
The Spanish economy and the rise of trade blocs
Autores:
Torres, Raymond
The global economy is increasingly shaped by geopolitical blocs, reflecting the weakening of multilateralism. Spain has been resilient to this disruption thanks to its strong competitive position with other EU countries; but, this hides structural export weaknesses with non-EU regions, notably the U.S. and China,…
What it would take to reverse Europe’s global decline
Autores:
Münchau, Wolfgang
Europe’s lacklustre economic growth reflects deep-seated structural weaknesses, from fragmented financial markets to chronic underinvestment and low productivity. Without further fiscal and capital markets integration, the bloc remains exposed to external shocks and the risk of a managed decline.
Europe’s systemic challenge or why underestimating Russia and the axis of autocracies is amistake
Autores:
Wolff, Guntram B.
Europe’s assumptions about Russia’s weakness and the limits of autocracies have been upended by Moscow’s resilience in war and economic mobilization. Meeting this challenge requires a bolder strategy, with higher defence spending, modern technologies, and deeper European cooperation.