Dice are shaken in the Madrid monopoly game. (analysis of Spain’s stock brokerage industry)

DICE ARE SHAKEN IN THE MADRID MONOPOLY GAME

DICE ARE SHAKEN IN THE MADRID MONOPOLY GAME

There are not many better ways of becoming rich in Spain than getting as seat on the Madrid Stock Exchange, the Bolsa. “If I was reincarnated, I’d want to come back as a Spanish stockbroker. They’re set up for life,” said one US banker in Madrid.

The 70 brokers who make up the Bolsa dominate the trading of financial instruments such as shares, bonds and debentures. (Only treasury bills are exempt and can be traded freely over the telephone).

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