Economic Sense: Uber Faces a Tough Time in Spain

Economic Sense: Uber Faces a Tough Time in Spain
The Uber app on a smartphone in Barcelona on Dec. 9. A judge on Dec. 9 banned the popular smartphone taxi service Uber from operating in Spain. Quique Garcia/AFP/Getty Images
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If taxi app Uber had waited a few more days, it could have said it operated above the law in 2014.

However, in its first defeat of 2014 it chose to suspend its services in all of Spain in “respect of the law.”

This is rather strange for a company, which has continued operating in many countries, especially in Europe after being slapped with injunctions to stop offering its UberPOP ride sharing service.

UberPOP, mostly offered in Europe so far, is different from the U.S. services because almost anyone driving around in their car can pick up passengers and make money from it—quite an ingenious concept.

If other countries adopt Spain's approach, Uber will soon face some real problems in Europe with UberPOP.
Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.