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Economy

Economy

The World Insurance Report 2016, from the insurance firm Capgemini in partnership with the European Financial Marketing Association (EFMA), found that Spain's generation Y (young people between 15 and 35 years of age) are among those most disenchanted with the services provided by conventional insurance firms.

Op-ed by Tim Bennett for Emerging Europe

2016 is a very critical year for TTIP, and a conclusion of negotiations couldn’t come soon enough for small and medium size companies (SMEs). Nearly 95,000 out of the 28 million US SMEs export to the EU, while about 150,000 of the 20 million SMEs in the EU export to the US Most SMEs do not have the human, financial, or time resources that larger companies have to develop export markets when faced with tariffs, complex customs procedures, duplicative and expensive regulatory approval requirements. These barriers are cost prohibitive for too many SMEs.

by José Manuel González-Páramo, BBVA Executive Director

Over the past few months there have been many very different statements published about the TTIP, the Transatlantic Trade and Investment Partnership between the U.S. and Europe. To what extent are they based on myths or facts? BBVA Executive Director José Manuel González-Páramo explains in an  op-ed published in Spanish ElDiario.es

Global trade is not at its best amid moderate economic growth and uncertainty in emerging economies – the drivers behind trade momentum prior to the 2007-2009 crisis. There has been a slowdown in the international exchange of goods and services since the middle of the last decade, making it seem like there are other factors behind recent years' cyclical weakness. There could be technological reasons, since falling transportation costs from “containerization” have slowed, or from China reorienting its economy toward domestic demand and services instead of acting as the world’s assembler.

BBVA today launches the 8th edition of its BBVA Open Talent competition, which aims to find the brightest and best entrepreneurs who are changing financial services through digital innovation. In the last five years, over 3,250 companies have entered, with winners raising over €116 million in investments. Early entrants will be considered for participation at Wired Money 2016 which BBVA is sponsoring for the second year in a row.

During his address in Bilbao, during the conference organized by Elkargi SGR, BBVA Executive Director remarked that “the Spanish economy is managing to keep high growth rates despite global and local uncertainties.”  He defended the need for greater EU-wide integration and the implementation of free trade agreements - such as the TTIP which the US and EU are currently negotiating – as levers for economic stability and growth inside and outside Spain.