financial times

The Spanish Prime Minister replied on Tuesday to the President of the Catalan Government’s proposal to discuss in a private meeting the question wording, date, and procedure of Catalonia’s self-determination vote. The Financial Times had also urged the Spanish Government to negotiate and make an offer to Catalans, while adding that “the ingredients” for a solution can be found in Catalonia’s question. While Mariano Rajoy answered he was open to meet with Artur Mas, he added he has nothing to negotiate on and nothing new to say. “The [Spanish] Government will not make any concession” regarding Catalonia’s self-determination. In addition, Rajoy insisted the vote “will not take place”. Furthermore, he added that Catalonia will not have a special funding scheme.

The People’s Party (PP) has answered the Financial Times that “Spanish unity” is “not negotiable” while the main Catalan nationalist parties have insisted they are ready to discuss the self-determination vote’s question, date and procedure. The influential British newspaper has published this Monday an editorial asking for “a negotiated solution” to Catalonia’s independence claims, while stating that the “ingredients for the solution” can be found in the self-determination vote question proposed by Catalan parties. The PP’s Secretary General, María Dolores de Cospedal, replied that “Spaniards’ right to decide” their sovereignty and “Catalans’ rights, as Spaniards, are not negotiable”.

Following the announcement of a self-determination vote question and date, the Financial Times urges the Spanish establishment to negotiate. The prestigious and influential newspaper stated that the Catalan claims for independence are “a political problem that requires a negotiated solution”. In this Monday printed edition’s editorial, the FT demanded more “federalism within Spain’s crying need for institutional renewal”, convinced that in the two-part self-determination question proposed by Catalan parties “lie the ingredients for a solution”. “It is not just the Catalans but Spain’s leading parties, Mr Rajoy’s PP and the Socialists, that need to rise to the occasion” urged the Financial Times, while also acknowledging that Spain has failed to build “a plurinational home comfortable enough for its culturally distinct peoples”.

The telecommunications company Cronos Group, based in Hong Kong, is opening its European offices in Barcelona to offer services throughout the continent and worlwide. According to the Catalan Ministry of Business and Employment, the company is expected to create 25 new jobs in the first year operating from the Catalan capital. Currently 10 people are already working in Cronos’ Barcelona offices. The project received the assistance of the Catalan Government’s programme ‘Invest in Catalonia’, which focuses on attracting foreign investment and international business. Cronos’s Managers explained they have decided to settle in Barcelona because it had become the world capital of the mobile phone and of telecommunications, since each year it organises the main international event in this sector. Furthermore, Cronos Group praised the talent and skills of Catalan workers.

Barcelona City Council and the Catalan Government’s programme ‘Invest in Catalonia’ are among the winners of the 2013 Financial Times’ Foreign Direct Investment (fDi) Innovation Awards, which “recognise the world’s most creative investment promotion agencies”. Barcelona City Council has received an award in the town-planning category thanks to its pioneering role in the development of smart cities: the Catalan capital has prioritised smart-city applications and projects, trying to become one of the world leaders in this category. In addition, ‘Invest in Catalonia’, a programme of the Catalan Government’s agency for business competitiveness ACCIÓ, received the award in the business matchmaking category.

The ‘Catalan Way towards independence’ has achieved significant coverage throughout the world as numerous media outlets focus on the impact and scale of Catalonia’s historic 400 km human chain, gathering 1.6 million people. The world’s major newspapers and news agencies have published articles detailing the events of the ‘Catalan Way’ human chain. The Associated Press revealed how there was “a festive mood” and that an “estimated 1 million people took part”, before the official figures were released. Meanwhile, the BBC spoke of a “huge human chain”. The Guardian documented the success of the human chain that ran all the way from “the border with neighbouring France to the region of Valencia”.

David Gardner argues in an interview with the CNA that politicians must find “political and legal ways for citizens to be able to express their will democratically”. The Financial Times International expert says that both Catalonia and Spain should agree to have a referendum and warns that “no one” can simply ban it. This journalist thinks it’s unlikely for Catalonia to become an independent country anytime soon but admits that most of the problems come from Madrid avoiding any kind of negotiation. “But they either negotiate or Spain will face a constitutional crisis”, he warns.

The Financial Times has published an interview with the President of the Catalan Government, Artur Mas. The Financial Times stressed Mas’ request for a new deal between Spain and Catalonia, which would reduce Catalonia’s contributions to the rest of Spain by half. The FT explained that between 8% and 9% of the annual Catalan GDP, which represents between €17 billion and €18 billion per year, goes to the rest of Spain to pay for solidarity funds for poorer regions. The newspaper also praised the “pioneering” austerity measures implemented by the Catalan Government.

IESE has been ranked the fourth best business school in Europe in 2011 and ESADE the seventh. Both Catalan education centres have improved their positions since last year’s FT ranking.

Andreu Mas-Colell, former Harvard Professor and the current Catalan Finance Minister, travelled to London to meet with financial representatives. The objective is to explain, first-hand, the Catalan Government’s austerity plans and its efforts to reduce the deficit and to foster the economic recovery. Mas-Colell met with City investors, banks and media, such as the ‘Financial Times’.

The yield on Spanish bonds reached 400 points more than German ‘bunds’, a record since the introduction of the euro