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Article: Madrid Financial Centre: Safe and sound despite the crisis: International Financial Centres.
- Article from:
- The Banker
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The international financial crisis has proved to be an opportunity for Madrid's financial sector to demonstrate its resilience to the world. While competing financial centres have witnessed the collapse of a number of financial giants, Madrid has managed to maintain a financial sector as bright as its 300 days of sunlight per year.
Indeed, Madrid has had the chance to demonstrate its ability to export more than leisure and gastronomy; the city's robust financial business model has also set an example to the rest of the world. While it is certainly true that the Bank of Spain and CNMV, the stock market supervisory agency, have been key to the solidity of Spain's ...