BoT 572

 

Business over Tapas

 

A digest of this week's Spanish financial, political and social news aimed primarily at Foreign Property Owners:

Prepared by Lenox Napier.  Consultant: José Antonio Sierra

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February 27 2025            Nº 572

 

 

 

Editorial:

Things are moving fast, and many of us wake each morning wondering what’s the latest shock coming from the Land of the Free. We switch on the TV or check the news on our mobile phone. What on earth is the King of America – and his supporters – up to now? He seems to be breaking things randomly. Silly calls and plastic straws and then some deadly serious issues too. We wonder if we will survive his reign (and in the likely event that he doesn’t last his four years, his vice-president appears to look like being an exceedingly poor choice as his replacement).

We worry about our children and the grand-kids. They won’t have it as easy as we did.

In my own defence, I’ve spent several years in the USA: I love being there, I was married to a wonderful woman from California and two of our three children (all born in Spain) live there. If you are going to be a foreigner in Gringolandia, being a tall, handsome and well-spoken Brit is as good as it gets. 

Let us look then at Spain’s relations with the USA (known here as Los EEUU).

Since the Spanish think of America as being everywhere from Chile to Canada, we call their people los estadounidenses, which is an ungainly word meaning the United-Statesians. Don’t wanna offend no salvadoreño, no.

The USA, a NATO member, maintain a couple of military bases in Spain – a naval base in Rota (Cádiz) and an air-force base in Morón de la Frontera (Seville), although Politico reports ‘American troops in Europe are not forever, US defence chief Hegseth warns. Donald Trump’s man in the Pentagon hints at major disruption to the continent’s 80-year-old protective security architecture’. Meanwhile, some of the lefties here shout: ‘Yankees go home’. Beware of what you wish for.

Spain’s main international disagreements with the Americans are not about their military presence here, but rather to do with Gaza, Cuba and Venezuela; and since Trump’s return, the Ukraine. The Spanish people’s first concern – on another phase of dismay – could well be the shocking American treatment of their Hispanic citizens and immigrants (legal or otherwise). 

Trump launched his first volley towards Spain right after his inauguration (‘Liberty Day’) by (probably) confusing the country as a member of the BRICS, the ‘emerging world economies’ that include Brazil, Russia and China. Maybe he thought the ‘S’ stood for Spain (rather than South Africa). We’re with the PIGS, remember?

Understandably, America’s policies don’t always dovetail with Spain’s – several times, they’ve sided with Morocco for instance.

Right now, there are important economic differences too. Congress wants to inflict tariffs (aranceles) on their trading partners, and an agreement that foreign traders won’t be using those nasty DEI policies (diversity, equity and inclusion) – which goes against Spanish and European law, social justice and common sense. "We want to ensure that our contracts comply with all U.S. federal anti-discrimination laws and that suppliers do not operate programs promoting diversity, equity, and inclusion that violate existing federal laws", U.S. embassy sources told the Spanish national broadcaster RTVE, as if distasteful Trumpian policies must automatically be observed by the rest of the Free World.

But if trade is one thing, then security is another. Could Trump bring us into a war? Or maybe, could Trump take a step back and bring the rest of us into a war? The Economist says ‘… the Ukraine is being sold out, Russia is being rehabilitated and, under Donald Trump, America can no longer be counted on to come to Europe’s aid in wartime…’

Nominally, or at least in pre-Trump times, ‘Spain and the United States are close allies and have excellent relations based on shared democratic values, including the promotion of democracy and human rights’, says the US Department of State. And maybe the coming breakdown stems in part from the Moncloa. A Spanish newspaper reports that ‘On Monday, Sánchez legitimizes Zelensky in Kiev and puts Spain in the way of both Trump and Putin. He offers his full support to the leader of Ukraine against these threats on the third anniversary of the invasion’. A second article – this time about the Middle East – highlights Spain’s opposition to the ludicrous plan to turn the land into a gaming resort: ‘Sánchez calls Trump's plan for Gaza “immoral”:  and insists that “Gaza belongs to the Palestinians”’, says the headline.

Elsewhere we read (in a blistering take-down of the American leader): ‘Trump's betrayal opens a window of opportunity for Sánchez. Although, what the Spanish president must avoid in any case is that an excessive desire to take political advantage of Trumpian exuberance could end up by seriously damaging our country’.

It would be good to read that Sánchez has the support of all Spaniards (and better still, all Europeans) in his crusade against the current American leader (and his partner Elon Musk), but of course, there’s the Partido Popular, who are always looking for an angle to somehow take centre stage, and then there’s the far-right (are we allowed to call them fascists?) represented by Vox. This weekend at the PSOE Regional Congress in Seville, Sánchez called on Núñez Feijóo to cease his policy of being ‘a collaborationist’ with the far-right, and urged the PP to clearly position itself in favour of Europeanism. "You can’t support Europe only on the even days of the month", he said. 

From an editorial at elDiario.es, we read ‘…Trump's offensive against Ukraine has left the Partido Popular in an uncomfortable position. Its only reaction to the events in Washington has been to criticise Sánchez for standing out in his denunciation of the policies of the new US government. It is difficult to know the PP's position on international relations, beyond generalities, other than seeing the world through what Sánchez does’.

It’s true that Donald Trump has a few friends from Spain. The Vox leader Santiago Abascal f’rinstance. Even if Trump, at the CPAC (the annual ‘Conservative Political Action Conference’ held last weekend), salutes Abascal from the tribune by mangling his name as ‘San Diego Obascal’. It’s clear that they must be very close.

Elon Musk though, Donald’s first buddy, further encouraged Abascal when he said on Sunday that ‘Vox will for sure win Spain’s next elections’.

No doubt, there’s a lot he can do to help make that forecast come true. 

…...

Housing:

‘Speculation has become one of the enemies of housing, and is partly to blame for a rampant crisis that punishes citizens. It is a double punishment, because they have to pay for houses that are almost never adapted to the needs of the residents and which prioritize individualization and isolation…’ Thus begins an article in El País in English on the advantages of co-housing.  

From Spanish Property Insight, a disapproving notice that ‘A coalition of radical tenant unions in Spain is planning a nationwide protest for 5th April, aiming to push their anti-landlord and anti-private property agenda under the banner of housing rights.

This is the first national-level demonstration planned by the Sindicato de Inquilinas e Inquilinos de Madrid (Madrid Tenant Union) and the Sindicat de Llogateres de Catalunya (Catalan Tenant Union)…’

From El Plural here: ‘Vulture funds and their cronies in Spain: The key names of real estate fraud. Housing is one of the assets that are most affected by speculation, and Spanish residents are the victims of this phenomenon’. We read ‘…Specifically, the three largest companies operating in our country are Blackstone, Cerberus and Lone Star, and their relationships with well-known names in conservative politics and Spanish banking are striking…’

The Majorca Daily Bulletin has ‘“If we are like this now, imagine what it’ll be like in a few years”. Mallorca's homelessness crisis continues to escalate, underscoring the urgent need for solutions’.

A special ‘Okupa’ phone-line was installed in Galicia to report squatter-activity. During 2024, it received no less (and no more) than three calls in the entire year. The story at Menéame shows that this is not such a big an issue as the media might like.

From The Financial Times here: ‘Why ‘Trump regime refugees’ are falling in love with Madrid. Americans are finding a haven in Spain where their spending power goes a long way’. We read that ‘American citizens are racing to put down roots in Madrid as Europe’s most voguish capital becomes a haven for “Trump regime refugees” seeking to escape the US president. An influx was already being fuelled by a US-Spain wealth divide and remote working since the Covid-19 pandemic, but it has been supercharged by Americans wanting a life away from the turbulence of Donald Trump’s second term…’ Alternatively, a video on YouTube here has: ‘Five Reasons Why Americans Leave Spain: How to avoid these mistakes’.

…...

Finance:

From elDiario.es here: ‘The Abu Dhabi royal family takes control of Tendam, owner of Cortefiel, Woman'Secret and Springfield.  Through its investment firm Multiply Group, it has acquired 67% of the capital that was in the hands of the CVC and PAI funds’.

The Olive Press speaks of a ‘Surge in demand for Chinese-speaking lawyers as China becomes Spain’s fourth-largest trading partner’. We read that there are now some fifty specialised firms now operating in this niche market. This trend shows the two countries have bilateral trade reaching €51,800 million.

…...

Politics:

The Government proposes to forgive 83,252 million euros of debt of "all" the autonomous communities says the RTVE here, with video. It’s around 20% of the entire debt of the autonomous regions to the State. The two highest debtors are Andalucía (18,791 million) and Catalonia (17,104 million). The idea is that, owing less debt, the premiums would be eased. As El Mundo points out, these discounts will only be applied if they are formally asked for by the regional authorities – putting the PP presidents in something of a quandary. El Español says cynically that the idea is simply to help boost the PSOE candidate for Andalucía’s next elections María Jesús Montero (!). El Mundo (again) reports that ‘Feijóo confirms that the PP's regional governments will vote against debt-forgiveness and his barons denounce the plan as "a scam at the point of a pistol"’. El Plural points out that ‘The debt-forgiveness strategy in Andalucía places Moreno Bonilla at the epicentre of the debate since the region is the autonomous community that would benefit the most from the central government's measure with a discount of 18,791 million euros’ (What to do, oh, what to do?).

From elDiario.es here: ‘Pedro Sánchez warns that “submitting” to Putin will bring “future and more serious aggressions”. The President of the Government criticises Feijóo for being “silent” in the face of the US threat to impose tariffs on the European Union’.

An editorial at elDiario.es here begins: ‘The Valencian leader Carlos Mazón knows that his political career is over. That he will not continue in the medium term. That when he leaves the presidency of the Generalitat Valenciana he will not have a new opportunity. As much as the PP publicly supports him, even applauds him – albeit with less and less fervour – Mazón knows that he will not repeat as a candidate when the next elections come around. He does not have many options, unless the Valencian PP wants to commit suicide. Carlos Mazón is a political corpse. But there is something he can still achieve: a good guaranteed salary until his retirement…’

Apparently, the main reason why Valencia’s Carlos Mazón is not resigning is because reaching the end of the legislature has its own reward: 15 years on the Legal Advisory Council, or 75,000 euros per year’. Another reason? He, as President, is aforado (person with parliamentary immunity), a status which ends if he resigns. Cadena Ser says that on the fateful day, Mazón only arrived at the operations centre at 8.30pm. Furthermore, the news outlet also says that Mazón is now so unpopular in Valencia that he can barely go outside.

From El País here: ‘Elon Musk is taking a stand in Spanish politics. The richest man in the world, with a fortune valued at 385,000 million dollars, expressed his support for Vox this Saturday through a message on the social network X, the former Twitter, which he owns. “Vox will win the next elections,” the tycoon wrote to his 218.6 million followers. He did so by commenting on a message from another user with a video in which the President of the United States, Donald Trump, is seen greeting the leader of the Spanish party, Santiago Abascal, this past Saturday at an ultraconservative conference held on the outskirts of Washington…’

……

Europe:

From The Bulwark here: ‘European defence without America. What would it look like? And in the short term, what can be done for Ukraine?’

The Guardian on the German results: ‘The man expected to be Germany’s next chancellor has said Europe must act swiftly to increase its defence capability in the face of a US administration whose motto is moving towards “America alone”, adding: “This is really five minutes to midnight for Europe.”…’

20Minutos reported on Monday that ‘Sanchez arrived in Kiev among thirty leaders to support Ukraine at an international summit opened by Zelensky’. Those present included the President of the European Commission, Ursula von der Leyen; the President of the European Council, António Costa; the Canadian Prime Minister Justin Trudeau; the Danish Prime Minister Mette Frederiksen and others. Sánchez pledged 1,000 million in Spanish military and other aid for 2025 and von der Leyden said she will bring a payment of 3,500 million to Ukraine next month. Sánchez also announced that a ‘Casa de Ucrania’ will be opened in Torrevieja (Alicante), a centre that will be dedicated “to addressing the different needs of the Ukrainian community in Spain”.

From The Kyiv Independent here: ‘Spain to provide Ukraine with military aid package worth over $1 billion (1,000 million) in 2025’.

…...

Health:

From El Plural here: ‘Andalusian President Juanma Moreno Bonilla and the health crisis in Andalucía: privatisation and waiting lists trigger criticism. Since coming to power in 2019, the Andalusian executive's health management has been marked by controversial decisions, cuts, and accusations of a lack of transparency’. It says: ‘One of the main criticisms has been the commitment to outsourcing health services. In recent years, the Junta de Andalucía has promoted the privatisation of key areas such as hospital cleaning, medical transport and laboratory management. This policy has been questioned by unions and organisations defending public health, which argue that privatisation not only makes the service more expensive, but also reduces the quality of patient care…’

…...

Corruption:

From El País here: ‘Anti-corruption asks for three years in prison for fraud against Rodrigo Rato's legal advisor, now the lawyer for Ayuso's boyfriend. The Prosecutor's Office accuses Carlos Neira of manipulating data from the former vice president's foreign accounts to try to exonerate him of the tax fraud for which he has been convicted’.

From El Plural here: ‘The PP, forced to investigate the "illegal" chalet of Judge Peinado. The former mayor of the town of Ciego de Ávila assured this newspaper that he stopped the works on the judge's house due to the lack of a "building permit"’. A video of the ‘spectacular chalet’ is here. Juan Carlos Peinado is, of course, the judge scrambling to indict the wife of Pedro Sánchez.

…...

Courts:

The companion of the Madrid regional president Isabel Díaz Ayuso finally made his way to court on Monday (at the fifth attempt), where, says elDiario.es, ‘Ayuso's partner refused to testify in the case of tax fraud and document forgery. Businessman Alberto González Amador is exercising his right not to be questioned while waiting to see if the investigation against him is extended to more crimes’. While this date with the court was eagerly anticipated by the media, the regional TeleMadrid opted instead to show a live story about a road being cleared somewhere. 

…...

Media:

Imagine what would have happened if the shoe had have been on the other foot says an opinion piece in ctxt here. Imagine the reaction of the judiciary if a PSOE leader had caused through mismanagement the deaths of 7,291 old folk stuck in residencies in Madrid during the Covid crisis, or the deaths of 224 people in Valencia during October’s floods. Other examples are given.

If your Spanish is up to it, then Miguel Charisteas, a kind of Spanish John Oliver, has his weekly news-letter (angry and comic, as it should be) on YouTube here. 

Editorial from El Español (paywall) here: ‘Why are Spaniards not reacting to Pedro Sánchez? Some people speak of a voluntary servitude embedded in our genetic code, and they remember that our grandparents did not rebel against Franco either’.

…...

Ecology:

‘Researchers analysed 280 bottled water samples. Only one brand was found to be free of micro-plastics. On average, one litre of bottled water contains 240,000 detectable plastic fragments’ says Xataca here. They’re in the tap water too. ‘Considering that we drink two litres of water a day, the authors estimate "an intake of 262 micrograms of plastic particles per year". As regards additives, 28 plastic additives have been detected, mainly stabilisers and plasticisers…’ The Guardian claims that ‘Antioxidants in fruits and flowers seem to counteract harmful effects of micro-plastics, a study shows’.

A piece at Xataca here tells the story of the Spanish tomato and its popularity (or otherwise) in Europe. 

…...

Various:

It’s all very well that the Americans are either visiting or deciding to live in Spain. They are, of course, most welcome. However, says Xataca here, they bring with them one disturbing and dangerous habit: over-tipping. Indeed, some clever restaurant-owners are adding a 10% tip onto the bill (as propina sugerida) just to keep us on our toes. And then, if you don’t read or understand Spanish, you might – if you were a tourist – add a tip to the already inflated bill. La Confederación Empresarial de Hostelería de España (here) insists that in Spain, the tip is optional.  

The Guardia Civil have discovered a narco-tunnel connecting Morocco with Ceuta says VoxPópuli here.

 ‘Nearly sixty migrants are evicted from a bidonville in Níjar (Almería) with several minors without providing them with assistance’ says Europa Press here adding that bulldozers were called in to demolish their shacks and that ‘they have nowhere else to go’. The eviction order came from the town hall.

A popular diversión in times gone by was the final bullfight during a fiesta taurina of a company of dwarves fighting young steers. Much fun and laughter. This spectacle was finally stopped some time back (I once spent a few days with some of these bull-fighting dwarves in Mexico) but – as an Andalusian court has now ruled, it’s just a jolly show and, with that understanding, the espectáculo can now go ahead… 

From La Cope here: ‘The Association of Spanish Language Academies (ASALE), on behalf of the twenty-three language academies that comprise it, express their concern about the withdrawal of Spanish from the White House website and social networks after Trump's arrival. The United States of America is the second country with the most Spanish speakers, a good part of them born and rooted for generations’.

From The Portugal News here: ‘Walk across the river from Portugal to Spain. On April 4, 5 and 6, 2025, the border towns of Alcoutim (Portugal) and Sanlúcar de Guadiana (Spain) will once again come together to celebrate the Smuggling Festival. Since its first edition in 2017, establishing itself as one of the most innovative in the Iberian Peninsula, attracting thousands of visitors at each edition. This unique event reinterprets border history and identity through art and culture, transforming the banks of the Guadiana River into a living stage of memories, traditions and artistic expressions. Inspired by the reality of smuggling, which for decades was a way of survival for local populations, the festival recreates the atmosphere of the 1930s and 1940s, where scarcity and ingenuity shaped the lives of many families…’

From Eye on Spain here, ‘La Plaza: the heart of any Spanish town’.

Spanish News Today asks ‘why does Spanish use upside-down question and exclamation marks?’ (¿Do you have them on your keyboard? ¡Hell, yes!)

…...

See Spain:

From The Times here:  ‘Twelve of the most beautiful places in Spain. See the country at its best with our pick of its most striking corners, from an underrated coastline with sweeping beaches to a spectacular mountain range’. Nice photos!

‘Discovering Guadix - The cave village’ at Eye on Spain here. More of a city really.

…...

Finally:

Well, this is nice: Soy cuerpo y alma by Marta on YouTube here.