BarcelonaIn the last twelve years, more than 5,000 bank branches have disappeared in Catalonia. In 2019 there were 4,287 municipalities in Spain without access to this service. Since the beginning of the 2008 crisis, the sector has laid off more than 100,000 workers in the state. The gradual closure of much of the commercial network of the entities has become a problem both for the populations that have been orphaned by ATMs and for the elderly who have been caught off guard by digitalisation. But this trend is also generating strong criticism to demand that banks take responsibility for the financial inclusion of these groups.
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BarcelonaBarça reached the Super Cup once morest a Real Madrid that had the favorite label hanging on it. Barça have not been able to beat Madrid, they have finished exhausted and with decisive players coming out of serious injuries, but they have once once more faced a top-level rival. The classic is exciting once more.
The promises and the tutor
The white team is commanded by experienced and highly talented players such as Benzema, Modric, Kroos and Courtois. He also has young players with a long career ahead of him, such as Vinicius and Militao. But Barça have a present to cheer on and a future to be a wonderful team once more. Ansu Fati is the standard of this group of young people who, accompanied and tutored by a coach like Xavi, will surely write outstanding pages in the history of the club. Pedri, Gavi, Nico, Araujo … And now also Ferran Torres (21 years old), who has just arrived and has played following overcoming an injury and passing the coronavirus, but he knows that Xavi trusts him so much that he he would hand over the keys to his house. When those who come out of injury pick up pace …
Dembélé, face and also cross
Dembélé is so unpredictable that no one ever knows if he will play a game in which he will be decisive or get entangled in a sea of ball losses and erratic decision-making. The Frenchman is still not renewed, while his agent is making unfortunate statements, but Xavi knows that, while wearing Barça, he is a player from whom he can draw juice. Seva has been the center of Barça’s first goal and has been the protagonist in many Barça attacking actions. For many moments of the match, the attack went on to look for the unpredictable talent of the Frenchman to intimidate Madrid. The problem is that all the virtues he teaches often end up tarnished by actions that are incomprehensible in a first-class player: either with the goal deflected, missing an easy pass or losing the ball in compromised actions (as in the play of the third Madrid goal).
La meritocràcia de Luuk de Jong
Despite being the author of Barça’s last two goals in the league, he had recently opted for Luuk de Jong. But Xavi had already warned in the pre-match press conference that the winners would play, and the Dutchman had won the start today. With more luck than success, he has seen the goal once more. The Barça coach has also started Frenkie de Jong, whose footballer highlights all the dark work he does. But the Barça midfielder went unnoticed once more and was overtaken by Modric and Kroos in the first half. If he was touched, why not start trusting Nico, who is one of Barça’s best this season? And don’t be fooled by Frenkie, if you don’t see how soon the transferable sign hangs around his neck.
Message to Dest and Umtiti
In the first game in which Xavi was able to count on practically the entire squad, with the exception of the injured Martin Braithaitwe and Sergi Roberto, the Egarenc coach had to leave players out of the call-up before the match. Apart from the midfielder Álvaro Sanz – a player who has the confidence of the coach but still has a long way to go – Xavi has sent Sergiño Dest and Samuel Umtiti to the stands. The American winger, despite wanting to stay at Barça, is one of the players that the coach has invited to leave this winter market. Umtiti’s case is well known: Barça would like to transfer him following extending his Erasmus in Barcelona for another three years in order to be able to enroll Ferran Torres.
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Spain, one of the countries most exposed to the crisis in Turkey
written by Alexandra Hartman Editor-in-Chief
BarcelonaSpain is one of the countries most exposed to the crisis affecting the Turkish economy. The country headed by Recep Tayyip Erdogan is suffering a significant rise in inflation which is increasing the cost of living of the population. One of the causes of this rise is the depreciation of the national currency, the lira, which only lost 30% of its value in November.
The evolution of the Turkish lira in the foreign exchange markets is one of the main headaches for the Erdogan government. As can be seen in the attached graph, the currency has lost more than 85% of its value in just over a decade compared to the euro, an evolution similar to that recorded with the exchange rate of the world’s major currencies. , such as the dollar or the yen. This has a two-way impact on Turkish foreign trade. On the one hand, the exports of Turkish companies are getting cheaper, as it is becoming cheaper for foreigners to buy lire, but on the other hand, if the Turks want to import foreign products, everything will be much more expensive for them. they will have to change their currency for a higher price to get euros or dollars.
The second phenomenon, the rise in imports, is one of the reasons behind the sharp rise in prices in the country, where this year the government expects it to be around 20% a year. By comparison, prices in the euro area will grow by 2.6%, according to European Central Bank forecasts. A 16% to 15% cut in interest rates announced by the Turkish central bank in November to revive economic activity in the midst of a pandemic might lead to even more inflation in the country.
The approved rate cut by the monetary regulator and the possibility of it repeating itself in the near future “have led to a deterioration in domestic confidence which has been reflected in a sharp depreciation of the Turkish lira,” the agency said in a statement. of US rating Fitch, which lowered the outlook for the Turkish government debt rating from stable to negative. “Turkey has entered this new period of stress in a vulnerable position,” the document said.
The Spanish banking sector is the one that can most notice the consequences of this deterioration in the economy, marked mainly by the loss of value of the currency. Spanish banking is by far the most exposed to Turkish assets, with close to 63 billion euros. The bulk of the exhibition is accumulated by BBVA, which has its third market in Turkey – the first is Mexico and the second is Spain – where it had a turnover of 563 million euros in 2020, 14% of the total group.
The entity of Basque origin has tried to take advantage of the weakness of the lira to gain control of 100% of Garanti, one of its subsidiaries in the country, but at the same time may suffer in terms of income and profits in Turkey, both because the ‘economy is not in a good time because the business it has in the country, of course, is carried out in pounds, which lose value day following day. Following the announcement by BBVA, the three MEPs from Junts –Carles Puigdemont, Clara Ponsatí and Toni Comín– sent a written question to the European Central Bank on the risks involved in the operation and exposure to the Turkish market for entity and all Spanish banks.
Navantia, the other big exhibit
Spain is one of the states in the European Union that has a closer relationship with Turkey. Both countries are NATO partners, which facilitates cooperation between governments on defense. In fact, the sale of arms is one of the main economic sources of discussion – and agreement – every time Erdogan has met with presidents of the Spanish government, both Mariano Rajoy before and now Pedro Sánchez. In 2018 Rajoy added a confidentiality clause to war material sales in Turkey.
The main beneficiary of the latest Spanish-Turkish arms sales agreements has been the company Navantia. The Spanish public shipping company created a consortium in 2015 with the Turkish Sedef for the construction of the light aircraft carrier TCG Anadolu, which will join the Turkish naval forces in 2022 and is designed from Juan Carlos I, the largest ship in the Spanish navy. This project, which included the possibility of making a second ship, has a cost of regarding 275 million euros.
In this sense, the 2015 agreement was noticed in the arms trade between the two states. Prior to that date, sales of Spanish war material in Turkey strangely exceeded 100 million euros – with the exception of 2012, when they were almost 503 million – but have since skyrocketed. Between 2015 and 2020, the Spanish defense industry exported more than 4,175 million euros, making the Eurasian country one of its main markets, according to data from the Ministry of Industry, Trade and Tourism. A deterioration in the lira and the Turkish economy might reduce these figures.
In addition, it should be borne in mind that these arms sales have cost Spain the protests of two EU partners, Greece and Cyprus, who have a long hostile relationship with Ankara over control of the Aegean Sea. The escalation of the past escalated into the armed conflict – and the Turkish occupation of northern Cyprus since 1974. To the point that in June the government of Athens informed Navantia that it was excluded from a public tender for value. of 5 billion euros to build frigates for the Hellenic navy, while maintaining in the selection process the other six companies – all foreign – that had applied.
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