Eurostat issued a flash indicator last Friday to the effect that eurozone inflation has fallen unexpectedly from 1.9% to 1.6%. I say unexpectedly, but of course this is, in many ways, one of the foreseeable consequences of the euro rise.
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2003 was a good year for the Spanish banks, with interest rates at historic lows, lending boomed. News has it today that net profits at Santander Central Hispano, Spain’s largest bank, rose 29.6 per cent in the fourth quarter to ?681m ($857m) mainly on strong mortgage lending in Spain and growth in its consumer finance [...]
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