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Spain is set to take Germany's place as the strongman of Europe, says Morgan Stanley's Joachim...

Spain is set to take Germany's place as the strongman of Europe, says Morgan Stanley's Joachim Fels. High unemployment means labor costs will remain low for years, he says (doesn't high UE kind of disqualify a country from being another Germany). Fels notes Ford and Renault have both recently moved production to the country. EWP +2.8% YTD.
Comments (11)
  • MS must be heavily invested in Spanish bonds. There should be mandatory disclosures when a company like MS makes these type announcements.
    13 Feb 2013, 12:02 PM Reply Like
  • They must be heavily invested in something Spanish because this is utter nonsense.
    13 Feb 2013, 02:15 PM Reply Like
  • The Germans actually work. By the time you get the Spaniards to produce the same, your lower hourly wages will have gone up in smoke and your product will be weeks late.
    13 Feb 2013, 12:07 PM Reply Like
  • hey, these guys are marketplace associates with our masters of the universe (GS); this entitles them to a little juice every now and then, it's only fair;

     

    now, let's look at how our ruling elite have gone seriously long in the last 10 days on the ust's; let's see, say one thing, do another...
    13 Feb 2013, 12:07 PM Reply Like
  • Economist Hook some Pescanova! GO BREWERS!!!
    13 Feb 2013, 01:06 PM Reply Like
  • "Spain is set to take Germany's place as the strongman of Europe" is easily the most ignorant statement of day.

     

    How do I get job that allows the demonstration of such incompetence?
    13 Feb 2013, 01:17 PM Reply Like
  • Run for elected office ;-)
    13 Feb 2013, 02:10 PM Reply Like
  • Too many negative comments here.

     

    If the productivity of a Spaniard's is 0.7x that of a German's, it's all right if he gets paid at the same lower rate. It's better if the pay rate is even lower than that. That's likely the case because the businesses moving into Spain aren't stupid; they must have done their homework.
    13 Feb 2013, 02:10 PM Reply Like
  • Once again, I must say, before you make any decisions about Spain, I strongly suggest a visit to the country. After one week in Spain you will see why the country is in a fantastic position to grow strong. They have debt but they have pristine infrastructure to show for it. We, in the U.S. have debt and we have pot holes to show for it. Think outside the box and you might actually acquire some wealth some day.
    13 Feb 2013, 03:42 PM Reply Like
  • Way to go Petten! Finally a comment with some insight!
    13 Feb 2013, 03:42 PM Reply Like
  • forget the politics; look at european country ETFs..........driving higher across the board
    13 Feb 2013, 07:22 PM Reply Like
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