The Corner


The Daily Telegraph, yesterday:

[Spanish] shoppers axed their spending in April compared to the same time last year, a drastically steeper decline than the 3.8pc drop in March and the 22nd monthly fall in a row.

The Bank of Spain warned that economy will shrink again in the second quarter and the Governor said he will step down. Miguel Ángel Fernández Ordóñez will leave his post a month sooner than expected after attacks over his handling of the banking sector and the nationalisation of Bankia.

Reuters today:

Italy paid a high price for the troubles of fellow problem debtor Spain on Wednesday when its 10-year bond borrowing costs topped 6 percent at auction, marking a new high since January.

A month ago Italy, with the world’s fourth-largest debt pile, had raised 10-year funds at 5.8 percent. The climb in Italian yields was even sharper on a five-year maturity. The Treasury paid 5.66 percent, the highest since December, on a new June 2017 bond – 80 basis points more than a month ago.

Nostalgia (late March):

Italian Prime Minister Mario Monti on Wednesday played down the risk that economic troubles in Spain would spread to the rest of Europe and said he believed the eurozone debt crisis was nearly over.

Most Popular

PC Culture

Warren Is a Fraud

Senator Elizabeth Warren (D., Mass.) has been telling a story for years. It’s a deeply romantic story about her parents and their young love, fraught with the familial bigotry of an earlier time. Here’s how she told it this week in a video she released in preparation for her 2020 run: My daddy always said he ... Read More

Two Minnesota Republican Candidates Assaulted

Two Republican candidates for state office in Minnesota have been physically assaulted in recent days, leading prominent Republican lawmakers to caution their Democratic colleagues against employing inflammatory rhetoric. Republican state representative Sarah Anderson was punched in the arm last week after ... Read More

The State of the Race for the House

Way back in January, I went through the then-34 seats where a Republican incumbent was retiring and concluded that most were in deeply red districts and not likely to flip to Democrats. Pollsters and media organizations are less inclined to conduct surveys of House races, both because there’s less public ... Read More