Publications

The global economy has been pushed and pulled between two opposing forces: the brutal shock of the pandemic and the overwhelming response of both monetary and fiscal economic policies. This will continue in 2021.

Beyond the human tragedy of COVID-19, 2020 has left us with a long list of economic consequences for the future. They are not all negative. The most obvious consequence is the severe recession, with global GDP expected to decrease by more than 2.5%, which is a bigger decrease than that of the 2009 financial crisis (-1.7%).

Although the second wave of the pandemic is going to have a major impact on the European economy in the last quarter of this year, recent news items have painted a somewhat clearer picture of what is in store for 2021.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

For once, what is urgent has become important. The coronavirus crisis is taking priority over everything in the short run and its consequences could be difficult, particularly for the tourism industry.

BBVA Research has analyzed developments in the Valencian tourism sector for a number of years, and seen the important changes that it has undergone. The sector generates around EUR 16 billion per year (15% of regional GDP) and is responsible for 290,000 jobs (15% of total employment).

The prevalence of highly Euroskeptic ideas in the UK throughout the Brexit process has been a constant surprise in Europe and these ideas are an example of how cultural and political biases are sometimes imposed on economic logic.

Christine Lagarde sets off her mandate at the head of the European Central Bank (ECB) with an ambitious goal: completing a review of the monetary policy — the framework that guides the decisions to fulfill her mandate.