Foul weather friends

IT is untrue that no-one wants to invest in Spain, a financial expert argued recently. Last year, as wounded Spain limped further into recession, its companies received more investment from sovereign funds than any other EU country except the UK. Put that way, the picture looks less depressing. Norway’s Government Pension Fund, Global and Qatar Holdings are reluctant to throw good money after bad. Their faith in the country is commendable.

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