Spain: Telefónica Could Feel Blow of Alierta Verdict

Wall Street Journal ^ | 7 July 2009 | Thomas Catan and Jason Sinclair

[J Aguilar]

MADRID -- A Spanish court is expected to deliver its verdict this month in the insider-trading trial of Telefónica Chairman César Alierta -- a long-awaited decision that could have profound consequences on Europe's biggest telecom firm and Spain's close-knit business community.

[J Aguilar]

This article may provide an insight on the top of corporate Spain, well defined as a "close-knit business comunity", the control over the media they are used to exercize and the media blackouts we are used to suffer.

In addition, it shows the underlying interests in the utilization of the Spanish people as a captive market, from which corporate expansions are finanzed, and thus, the necessity of having populist government to dissimulate the fact that being here the salaries lower, products and services are more expensive compared to the rest of Europe.

Furthermore, it points out how that model might not survive the present crises.

IMHO, the worst of all is that Cesar Alierta is among the best we have.

[J Aguilar]

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