For many investors this has been the big dilemma since the European periphery began to collapse financially. When the insolvency of Spanish banks came through the door, the more prudent investors naturally jumped out of the window... and mostly in the direction of Luxembourg. The fact is that this small Duchy has been the Wall Street of the Eurozone for several decades now. London and its City remain a gigantic pseudo-European financial centre, but for the purposes of fiscal transparency, affinity with Brussels and its single currency, Luxembourg has become much more “Eurozone friendly“. (more…)
Despite being the closest member of the BRICs, the Russian economy is still largely unknown to Spanish investors. However, we are already beginning to see its inhabitants travelling en masse around the world. And little by little we are becoming familiar with their appearance and language, because more and more Russian tourism is flooding the Mediterranean coasts from the Turkish Riviera to the Costa Brava. Restaurant menus in the Cyrillic alphabet are now quite common, and this is a clear sign that their roubles are beginning to make a substantial contribution to the balance sheets of our companies. 
Most investors care little about what might have happened. They only value and rate the quality of their bets by the final outcome. In other words, often without realising it, they subscribe to the old saying: “all's well that ends well”.
Most of you will no doubt remember the famous Spanish film entitled “