#EmbraceSpain XXXIV: As the month of Ramadan starts, this week the EU has formally accepted the start of Brexit
The European Union has formally accepted the opening of the Brexit negotiations with the United Kingdom and Spain has presented its lines of action in this process.
In Qatar, several events have taken place this week as the start of Ramadan starts this Friday at dusk: In Doha, the first football stadium for the 2022 World Cups, Khalifa Stadium, has opened this week, with a capacity of 40,000 people, with a sophisticated air conditioning system that maintains the entire stadium at 26ºC, while outside temperatures can exceed 50ºC. The stadium held the final of the Emir Cup where Al Sadd, the team led by former Barcelona Xavi Hernandez, won the victory in the min 90 after an assistance of the Catalan player that sentenced the match.
Also this week, Qatar has suffered a cyber attack in which the Qatar News Agency published fake news on behalf of the Emir. This cyberattack coincided with the meeting of the Emir with Donald Trump in Riyadh (Saudi Arabia) this week. To learn more about the Ramadan tradition and how it is celebrated in Qatar, we invite you to read this Doha News article.
The Brexit negotiations between the United Kingdom and Brussels are again the protagonists of the political agenda after the “parenthesis” of Theresa May calling for early election. The European Union has approved the formal opening of negotiations.
In the UK, political parties are focusing the debate prior to the start of the general election campaign on taxes. In this discussion it has been raised the possibility of increasing up to 1 billion pounds the tax revenue by legalizing cannabis. On the other hand, and from the economic point of view, the low value of the pound has increased British exports.
In Spain, the government has set the lines of Spanish action in the Brexit negotiations. The key points are the rights of citizens, where the community team does not anticipate complications due to the coincidence with the United Kingdom in safeguarding them. Other relevant aspects for the EU are trade agreements and the involvement of the financial sector, tourism or agriculture and the relocation of agencies and services, as well as the territorial issue, in which, once again, the rights of Spain on Gibraltar take center stage.
With regard to the real estate market, mortgages at fixed rate are already 40% of the mortgage loans granted by the banks. In this regard, our lawyer Claudio Rodríguez Vera has analyzed in an article in our blog the last sentence of the Madrid Provincial Court against the bank that annuls the IRPH: “this sentence is a step further in the legal security of consumers because it prevents them from abuses that banks could commit taking advantage of their most dominant negotiating position”.
In addition, Rodríguez Vera, also analyzes the incidence of housing taxes in the final price: “an improvement in the taxation of housing that had the effect of lowering the final price, could serve to increase the possibilities of housing access” . The real estate market is growing in recent months but, if no measures are taken to facilitate this access, the mistakes of what in Spain it was known as the “ladrillazo” (housing bubble) will be repeated with its disastrous consequences.
In this sense, on the floor clauses, the Spanish Bar Association has formally rejected the plan of the Consejo General del Poder Judicial (the government body overseeing the legal profession) to have one Court by province specialized in mortgage clauses. On the other hand, the Tax Office has forced Apple to pay 11.7 million euros in corporation tax, continuing with its efforts to fight against tax fraud.
As we have already reiterated in other editions of #EmbraceSpain, we consider that consensus is the only way to ensure that Brexit does not become the new “wall” that divides Europe, but it can serve as a basis for the construction of future relations with its European partners.
For those observing Ramadan, from Del Canto Chambers, we wish you “Ramadan Kareem” (traditional way of wishing for a favorable and benign month of Ramadan).
Xavier Nova (@xavinova)
Director of Del Canto Chambers