credits

The number of mortgages on homes in Catalonia registered a 32.4% increase in February compared to the same figure from February 2014. This annual increase strengthens an uninterrupted trend of 10 consecutive months of annual growth. This figure is particularly important taking into account that the crash of the construction and real estate sectors, as well as the lack of bank loans, were some of the main elements of the double economic crisis that affected Catalonia and the rest of Spain between 2008 and 2014. The recovery of the mortgage market is yet another indicator of a broader recovery of the real estate market and the overall economy, although its effects on some aspects of people's lives will still need time to be noticed, such as in the reduction of the high levels of unemployment.

On Wednesday evening the main Catalan small- and medium-sized enterprises association, Pimec, organised a protest conference in which they accused the Spanish and Catalan Governments of politically and financially "discriminating" against them. With the slogan #diguemprou (#wesayenough) 1,400 owners of SMEs and self-employed workers protested against both Governments for not taking SMEs into account and only working for the interests of large corporations. The protest was explicitly backed by 220 guilds and associations, as well as by 9 professional associations and that of self-employed workers. The event issued a manifesto compiling a list of grievances, split into 7 different areas: entrepreneurship; loans and funding; taxation; labour market; energy; training and employment; and internationalisation.

In an interview with the Catalan News Agency, the European Commissioner for Regional Policy, the Austrian Johannes Hahn, nuanced previous statements made by other Commissioners and opened the door to debating Catalonia’s EU membership “in a more relaxed way”. Hahn “rejected” the idea that the Commission “is ignoring Catalonia’s independence movement”; “we are watching it carefully”, he said. On the question of automatic expulsion from the EU in the event of becoming independent, the Commissioner emphasised that “of course there is no provision in the Treaty and that’s why legal experts have the opinion that then Catalonia should ask for membership”. However he immediately added that “we should resolve this issue in a more relaxed way”, since “if there is independence, it would not happen from one day to the next”.

Activity reports for the Institut Català de Finances (ICF), the Catalan public financial institution delivering official credit, were released on Tuesday. The number of credit requests rose by 34.1% in 2009 while activity grew by 2.5%.

Construction companies have agreed to receive loans for some 3,000 million euros to develop what the Catalan Government considers “strategic” infrastructures. The Catalan Minister for Public Works, Joaquim Nadal, announced this agreement this morning and listed some of these works.

The Catalan and Quebec Governments are working together on an initiative to create business alliances in order to strengthen economic bonds and gain access to financial credits.