European Periphery Macro Daily 12/02/2019
12 de febrero de 2019
- Spain politics: yesterday the news agency EFE stated that the Spanish government is considering calling snap elections as soon as 14 April if the 2019 Draft Budget Law is not approved by parliament (the debate on the proposed amendments is today and it will be put to the vote tomorrow). Government sources have denied that any such decision has already been taken (this sort of speculation is set to abound in an already blurred political scenario in Spain this week).
- Italy Bank lending for December. New loans to the non-financial private sector were almost flat (c.0.36% YoY) in December, after a negative performance (-1.9% YoY) in November. The loss of momentum in new lending is centred on the corporate sectors whereas those for consumption maintained a decent pace. The volume of NPLs continued to fall (-40.3% YoY), which contributed to a further reduction in the NPL ratio to 7.64%.
- Macro releases today. Spain housing transactions for December, and Portugal bank lending and final inflation for December.
PLEASE SEE IMPORTANT DISCLOSURES ON THE LAST FOUR PAGES OF THE REPORT.
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