Asides

Santa Shopped Early in Spain Amid Supply-Chain Disruptions and Virus Fears

Covid-19 plush toys at La Liada store in Coruna. PHOTO: MIGUEL RIOPA/AGENCE FRANCE-PRESSE/GETTY IMAGESBy Maria Martinez Santa Claus started his holiday shopping early in Spain this year, amid fears of logistic problems and new coronavirus restrictions that could close toy stores. Toy sales in Spain increased 23% in October and November compared with the same two …

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Germany Poised for Strong Growth in 2022, Despite Near-Term Challenges

German, British and European Union flags fly in front of the Reichstag building in Berlin, Germany July 20, 2016.  PHOTO: HANNIBAL HANSCHKE/REUTERS By Maria Martinez Germany will start 2022 with a new chancellor after Angela Merkel’s 16-year reign. The country’s new coalition government will face challenges in its first few months that are expected to stymie …

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Covid-19 Casts a Cloud Over Germany’s Recovery

PHOTO: KRISZTIAN BOCSI/BLOOMBERG NEWS By Maria Martinez A recent surge in coronavirus cases and a new variant is casting a cloud over the near-term prospects for Germany’s economy, and economists fear stagnation or even a contraction in the last quarter of the year. The incidence of Covid-19 infections is currently higher in Germany than at the …

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Paella Pizza? Purists Object to Variations of the Popular Spanish Dish

A paella is prepared in Valencia, Spain, on World Paella Day, in 2018. KAI FOERSTERLING/EPA/SHUTTERSTOCK By Maria Martinez When Regina Bou’s friends saw paella on a restaurant menu, they immediately bought it for her. As a Spanish student living in New York City, they knew she really missed her home country’s specialties. Her friends delivered the …

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German Election Leaves Analysts Divided

Candidates for the German Chancellorship line up for a TV debate on Sept. 19. Germans head to the polls on Sunday. PHOTO: FILIP SINGER/SHUTTERSTOCKBy Maria Martinez After 16 years as German chancellor, Angela Merkel’s reign is coming to an end. As Germans head to the polls on Sunday to elect her successor, opinions remain divided over …

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Europe’s Economic Recovery Hopes Are Riding on Unlocking Covid-19 Savings Stockpile

The eurozone’s household savings rate jumped to 25% in 2Q 2020, almost double the pre-pandemic long-run average, according to UBS data. PHOTO: LEONHARD FOEGER/REUTERSBy Maria Martinez When the pandemic hit Europe, Pablo Jimenez continued working as usual in his job as a computer scientist, albeit remotely. He was living in Madrid at the time but decided …

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EU Seeks Out Recovery With Next Generation Plan

People sitting inside a bar in Barcelona, Spain. The country, one of the hardest hit by the pandemic, is set to benefit from the Next Generation EU funding. PHOTO: NACHO DOCE/REUTERS By Maria Martinez The European Commission’s recent upgrade to its growth forecast is based on easing pandemic restrictions and fundraising from the Next Generation EU program, a …

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Supply Constraints and Shipping Costs Threaten Eurozone Recovery

Shipping containers are unloaded from a ship at Los Angeles, the final destination for many overbooked ships traveling from Asia via Europe, after passing through the Panama Canal. PHOTO: LUCY NICHOLSON/REUTERS By Maria Martinez In the Spanish port of Valencia, shipping containers are stacking up waiting to be taken across the Atlantic. Vessels from Asia that …

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EU Covid-19 Fiscal Response Leaves Economists Divided on Best Course

PHOTO: DADO RUVIC/REUTERS By Maria Martinez The U.S. economy is set to far outpace the eurozone this year, supported by a generous fiscal response to the economic crisis. This has prompted some European economists and even the International Monetary Fund to push for a stronger fiscal response from the EU, but leaders from the bloc have …

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Calls for ECB to Cancel Eurozone Debt Ignite Debate

An anti-austerity protester burns a euro note during a demonstration in Athens in 2015. Some economists argue that the European Central Bank should write off the debt owed to it by countries in the eurozone in order to avoid austerity. PHOTO: ALKIS KONSTANTINIDIS/REUTERS By Maria Martinez  A bold proposal to cancel the $3 trillion of public …

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