“He who is prepared has his battle half fought,” wrote Cervantes 400 years ago – at the height of the Iberian Union between Spain and Portugal.
Today, Don Quixote’s strategic advice is being applied by the managing partners of Iberia’s largest law firms. Emerging somewhat leaner from the post-crisis years, they are once again prepared for action: less tilting at domestic windmills, more fighting fresh battles in foreign markets where cultural links are strong – in Latin America and lusophone Africa.
That is not to diminish the impact of Iberian recovery. All three big Spanish firms – Garrigues, Cuatrecasas Goncalves Pereira and Uria Menendez – point to a rebound in technology, telecoms, energy, pharma, and especially in real estate: the speculative bubble that burst so painfully after 2008.