11 Sep 2018
The negotiations between Mexico, the U.S., and Canada have been a recurring topic in the news recently. BBVA Research has used big data techniques to monitor the media coverage and tone used by the national media outlets in each North American country as the slow-going renegotiation of this agreement has been reported.
11 Aug 2018
As the trade war between China and the U.S. continues to escalate, both sides exchanged salvos in early July with the U.S. imposing 25 percent tariffs on $34 billion worth of imports from China, followed by a similar response from China.
12 Apr 2018
Fears of a trade war between the U.S. and China are escalating by the day. Trump announced extra duties on 10% of Chinese imports and the two world powers have entered into a “tit-for-tat” trade retaliation that has unnerved investors and shaken financial markets. Nevertheless, the likelihood that these skirmishes will turn into a full-blown trade war are still low, as explained in a BBVA Research report.
09 Apr 2018
Europe and the U.S. need to promote global trade and services standards. And to do this, they must keep relying on multilateral agreements, which set out a strategic position with respect to third parties from a commercial, economic and political point of view. “The United States and Europe, united, are much stronger,” said José Manuel González-Páramo, Executive Member of the Board, Head of Global Economics, Regulation and Public Affairs at BBVA, in Barcelona on Monday.
20 Feb 2018
The regulation of the digital world is a key issue for Latin America and a necessary condition for achieving relevance in this field on a global level. So far, Latin American regulators have adopted a “wait-and-see” attitude that aims to avoid slowing down innovation. However, a lack of action on the regulatory front could put the brakes on innovation in industries such as finance.
25 Jan 2018
Economic activity in Latin America has been invigorated in recent months, in line with the recovery of confidence among families and businesses and a more favorable external context. In its Latin America Economic Outlook for first quarter 2018, BBVA Research forecasts that the region’s growth will increase from 1.1% in 2017 to 1.7% in 2018 and 2.5% in 2019.
27 Nov 2017
BBVA, in collaboration with Wave, conducted the first pilot that uses blockchain to automate the electronic submission of documents in an import-export transaction between Europe and Latin America. Thanks to Wave’s solution, which uses Distributed Ledger Technology (DLT) and blockchain, BBVA was able to reduce the time required to send, verify and authorize an international trade transaction, which normally takes from seven to ten days, to just 2.5 hours.
29 Sep 2017
After seven years of negotiations, the Canada-Europe Trade Agreement, CETA, has entered into force provisionally. Under this bilateral agreement, the most ambitious signed to date by Brussels, most custom duties levied on trade flows between both countries will be scrapped.
26 Sep 2017
The R3 consortium is working with 12 financial institutions –including BBVA– and TradeIX in an initiative that aims to re-design the trade finance infrastructure through the use of distributed ledger technology, or DLT.
08 Aug 2017
BBVA has recently joined the Singapore-based Capital and Credit Risk Manager (CCRM) platform as a full member bank. CCRM is a Digital Market Place providing a secondary market for trade and working capital risks, owned by Tin Hill Capital and supported with a grant from the Monetary Authority of Singapore (MAS) Financial Sector Development Fund.
20 Jul 2017
The Pacific Alliance, made up of Chile, Colombia, Mexico and Peru, is a regional economic and comercial powerhouse. This area grows more than the average in Latin America. BBVA Research expects GDP growth of 1.6% and 2.3% in 2017 and 2018, respectively. “The Pacific Alliance is a success story in integration. And not by chance. It shares an ambition and a set of values behind this policy, on how prosperity should be reached,” said Jose Manuel González-Páramo, executive director of BBVA in Santander.
08 Jun 2017
We have experienced the deepest global crisis since the Great Depression. Among the things that have changed – perhaps for good – is the way the financial sector now acts at a global level to manage both credit and reputational risk. This has coincided with what amounts to a genuine explosion in technology, which has undoubtedly only just begun.
15 May 2017
02 Mar 2017
In a meeting organized by the Rafael del Pino Foundation to discuss the future of Europe, José Manuel González-Páramo said that the “European Union is more necessary today than ever” to rise up to find a solution to the Old Continent’s most pressing issues. According to BBVA’s Executive Board Director, the EU now faces the challenge, but also the opportunity, to plot its future without the UK, one of its traditional and more important, partners.
On the financial plane, BBVA’s Executive Board Director highlighted the EU’s achievements in its path towards building a banking union. However, he warned about the need to keep moving ahead with the reforms and completing the following stage in the process: the rollout of the EDIS, the European Deposit Insurance Scheme.
16 Feb 2017
South America’s GDP will recover in 2017 after four years of economic slowdown, while Mexico will bear the impact of the uncertainty surrounding US policies, which is likely to hinder its growth prospects. These are the key conclusions of BBVA Research’s Latin America Outlook Q1 2017 report.
24 Nov 2016
The day after Thanksgiving, or the last Friday of November, is celebrated nearly all over the world as Black Friday, the day that marks the first day of Christmas shopping. Over the years, with the arrival of new technologies, sales have been extended to Monday, known as Cyber Monday when discounts are offered for online shoppers.
21 Jul 2016
The U.K. unexpectedly voting to leave the EU in the referendum (Brexit) increases uncertainty in the global economy, according to a BBVA Research report published on July 5th. The negative bias could subtract approximately -0.2% from global GDP growth, previously expected to be 3.4% in 2017 until now.
03 Jun 2016
The trade finance or foreign trade activity accompanies people and businesses in their activity importing/exporting goods and services, mitigating the risks that exist in international commercial relations and simplifying the settlement of operations. The same commercial transaction can require different solutions over time, depending on the moment at which it takes place and the role of the parties involved (importer or exporter).
09 May 2016
The Payment Services Directive (PSD2), which came into force last January 13, entails fundamental changes in the payment industry and aims to promote competition, innovation and security. A two-year phase began on that date that will culminate in its transposition into national law in 2018, when third-party payment providers (TPP) will be given access to client accounts.
25 Apr 2016
The buzz surrounding the TTIP – the free-trade treaty that the US and the European Union started negotiating back in 2013 – keeps growing louder. While the name may already ring a bell for a majority of people, many may still be wondering what’s behind the acronym and how will it affect, for good or for bad, the Spanish economy and, by extension, our everyday lives.
01 Apr 2016
Op-ed by Jochen Müller
The U.S. is the largest recipient of Spanish exports outside of the EU, the country with the greatest investment in Spain and the third-largest destination of our investments in the world. This privileged economic and trade relationship has become stronger in recent years and has helped create thousands of jobs in Spain.
93% of the companies that export to the U.S. are small and medium sized enterprises (SMEs) and they are responsible for 35% of all sales to this country (if large companies’ value chain is included this percentage increases to 50%). The prominence of SMEs in the Spanish and European economies means governments need to enact measures that give them more opportunities to grow locally, regionally, nationally, as well as across the EU and the rest of the world.
15 Mar 2016
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
01 Mar 2016
US and EU representatives agreed to extend the current round of talks regarding the Transatlantic Trade and Investment Partnership (TTIP), started on February 22nd, two additional weeks. Both parties were clear about their satisfaction regarding the ground covered over the past days, and ratified their commitment to conclude an agreement in 2016.
11 Feb 2016
BBVA executive director said this morning that “the free trade agreement between the EU and the U.S., or TTIP (Transatlantic Trade and Investment Partnership), is an existential agreement for Europe.” José Manuel González-Páramo considers that “trade is at the core of the continent’s DNA, and trade helps us innovate.” Thus, from a point of view of diversifying trade and increasing the soundness of the export sector, “the agreement’s success would be a good thing.”
26 Jan 2016
We frequently hear arguments for and against the TTIP, the Transatlantic Trade and Investment Partnership that the US and the EU have been working on since 2013. The groups against this partnership focus on how it will only benefit large corporations at the expense of smaller businesses and citizens, while the groups that argue for it underscore the advantages it will bring in trade and export related matters for small and medium enterprises (SMEs). But, what do Spanish SMEs think about the TTIP?
15 Jan 2016
Galeria de Imagenes
The impact of the spanish economy on TTIP
BBVA’s executive director, José Manuel González-Páramo, believes that the Transatlantic Trade and Investment Partnership between the European Union and the United States that is currently being negotiated “is a unique opportunity to strengthen even further relationships between Europe and the United States.
What happens if a German citizen wants to take out a mortgage from an Italian bank that does not operate in his country? What barriers will he face beyond the language? This is what is intended to be found out by the European Commission, which has presented the much-awaited Green Paper on Retail Financial Services.
07 Jan 2016
The commodities boom has reached its end, impacting strongly on Latin American economies. Fiscal balances have been affected by lower currency revenue, currencies have devalued significantly, with the subsequent fall in the value of exports, and the exchange rate effect has led to a rise in inflation. It has also had a negative impact on GDP growth that could become more pronounced if prices fall further in 2016.
21 Dec 2015
Up until now, many things have been written about the possible consequences – positive and not so positive – of the Transatlantic Trade and Investment Partnership with the US for the European Union. What has not been discussed so widely are the agreement’s geopolitical repercussions on both sides of the Atlantic.