DAVID’S ONLINE RESCUE OF THE GOLIATH OF FASHION! »
Inditex SA, the world’s largest clothing retailer, and Zara’s parent company, has been hit hard by the pandemic, with a sales decline of 44% to €3.3bn/$3.8bn during the first quarter of its financial year. Considering the sharp downturn in sales, one will understandably wonder about Inditex’s relatively small loss. Here is why: online sales rose significantly during the worst period of the pandemic. Today, the giant Spanish retailer looks forward to the challenges of the post-COVID19’s new reality with self-assurance and an unmatched in-store and online retailing savvy.
SOLDIERS JOIN THE DESPERATE WAR AGAINST A VIRUS »
In view of very disturbing flare-ups, Spain's Prime Minister Pedro Sanchez announced recently that the army will be on hand to help regions track and trace COVID-19 positives. Sanchez admits that the situation is "worrying" but stresses that Spain is nowhere near the height of the pandemic in mid-March.
SPAIN TAKES A CLOSE LOOK AT THE EU’s “MARSHALL PLAN” AND FINDS IT BRILLIANT! »
Spanish Prime Minister Pedro Sánchez: The Agreement in Brussels of the Coronavirus Recovery Plan marks “one of the most brilliant pages ever written in EU history.” It is “a historic agreement for the economic recovery of our country [i.e., Spain], not only in offering a response to the COVID-19 crisis, but also to the transformations needed.” The Agreement is 95% satisfactory for Spain and 100% for the whole of the EU.
THE PICAREQUE SPANISH & THE PANDEMIC FACE MASK »
The Spanish is nothing if not picaresque. It’s there in the underpinnings of his national icons. However, the latest survey by the Sociological Research Center shows that not only do most Spaniards believe the measures adopted by the government to contain the corona pandemic were necessary; now that the lockdown has been lifted, they want the authorities to impose stricter controls, including a re-imposition of confinement, where needed. A near-perfect
unanimity of deeds and sentiments, and quite a departure from what one would normally expect from the highly individualistic picaros.
LA TRAVIATA AT THE TEATRO REAL AND ON “MY OPERA PLAYER” »
The Teatro Real has resumed its activity after all programming was cancelled in March due to the pandemic. It has now scheduled 27 ‘La Triavata’ performances between July 1 and 29. All of the pertinent safety measures (masks, hand sanitizers, social distancing) have been adopted, which means only 869 spectators will be allowed to attend each performance. There’s a free presentation of ‘La Traviata’ on My opera Player this coming July 15. A fabulous treat! Don’t miss it.
Summer 2020 EU Economic Forecast: An Even Deeper Recession than in the Spring »
The EU economy will experience a deep recession this year due to the coronavirus pandemic. The Summer 2020 Economic Forecast projects that the euro area economy will contract by 8.7% in 2020 and grow by 6.1% in 2021. The EU economy is forecast to contract by 8.3% in 2020 and grow by 5.8% in 2021. Early data for May and June suggest that the worst may have passed. The recovery is expected to gain traction in the second half of the year, albeit remaining incomplete and uneven across Member States.
MADRID OBSERVES A MINUTE OF SILENCE FOR THE COVID-19 VICTIMS »
Those who have died in the pandemic “deserve to be remembered; they deserve our lasting remembrance.” An even bigger tribute to the fallen would, however, be “for us to live together in harmony.”
THE DESESCALADA: WE HAVE A FRACTION OF OUR FREEDOM BACK! »
On 2 May, the Government of Spain has given us back a small fraction of our pre-COVID19 freedom. We were let out of our homes for a few hours. It was the beginning of the desescalada. The beginning of something that we don’t know for sure what. But it’s something that feels precious because somehow it smacks of rebirth. In the middle of all the uncertainty, there was one thing unequivocal: a deep sense of gratitude. We wouldn’t be here now, out on our first true taste of sunshine and the soft breeze of spring, without the healthcare workers who have put their own lives on the line so we could live. Their heroism is breathtaking. We’ve lived by the rules so that we all could live even though some of us hadn’t been able to make it. And we grieve for them.
PANDEMIC IN VENICE »
Piazza San Marco: solemn, majestic, always full of tourists, now incredibly empty. Whatis there left for us these days? Perhaps the knowledge that the absurd
frenzy of our life, racing towards emptiness, is not inevitable.
THE WORLD BANK’S CONCLUSION ON THE FIGHT AGAINST COVID-19 IN EUROPE & CENTRAL ASIA »
The more successful the containment policies are, and the flatter the infection curve is, the deeper the economic recession becomes. The positive note: there may even be long-term benefits from the lifestyle changes brought on by the coronavirus pandemic which are bound to generate innovation and productivity increases; they will be there long after the crisis has passed.
