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Economy

Economy

The European Deposit Insurance Scheme is one of the essential steps towards the completion of the banking union. At the same time, banking authorities are reviewing the treatment granted to banks’ sovereign risk exposure. However, both lines of work should be independent. BBVA executive board director José Manuel González-Páramo took the opportunity offered by his participation in the Eurofi financial forum – which is taking place this week in Amsterdam – to defend this idea.

To refer to “Colombians” is to paint a very specific human profile that arises from the depths of a land peppered with regions in a geographic delight. The two oceans that surround Colombia and three large mountain ranges that run across it explain in part the contrasts, accents and diversity of the Colombian people. A territory full of people from coastal, valley, plains, Huila and Santander regions.  Each with their own, very diverse cultures that melt away in the overwhelming joy, strength, creativity and desire to excel that is the common denominator of all Colombians.

Energy plays a crucial role in a country’s social and economic development. As a country gains wealth, its economy requires more energy. Energy is needed for the industrial sector, fuel for vehicles, temperature regulation of buildings and homes and the increasing demand for power for electronic equipment and appliances.

After enduring over 40 civil wars during the 19th century, the 20th century brought the rise of the guerilla warfare to Colombia. Today, in the midst of the 21st century, the country still does not know what it means to live in peace. But hope remains alive today more than ever, thanks to the strides made in the negotiation process that Juan Manuel Santos’ government is holding with the two only guerrillas that remain active in the country, and in Latin America at large: The FARC or Revolutionary Armed Forces of Colombia and the ELN or National Freedom Army. Signing a final deal with these two groups would mean the end of one of the world’s longest-running conflicts in the world.