Government minister blames Spanish real estate crash on bank greed

Government minister blames Spanish real estate crash on bank greed

Posted on August 26, 2009 by Spanish Property News

Celestino Corbacho, Spanish minister of employment
Bank greed is the “indisputable origin” of Spain’s property crash, according to Celestino Corbacho, Spain’s Minister of Employment.
“As the financial sector is always telling labour markets what they should be doing I am going to remind it of something; it is responsible [...]

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September 2nd, 2009 by admin 

Spanish Bank Repo,s Not The Best Value?

With the world economy in tatters and the Spanish property market albeit destroyed, many see Spanish bank repossession property as the obvious “best value for money” choice for the “cash in pocket” investment buyer.
Lets think about that – because it is plainly not the case, a home owner defaults on a Spanish mortgage, the bank [...]

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March 14th, 2009 by admin 

RELEASED FROM PAIN IN SPAIN

Over the last eight months or so retired (longer than that now) people living in Spain have been finding it increasingly difficult to make ends meet, caused mainly by the £ versus the € exchange rate fluctuations. The weak Pound has effectively wiped nearly 25%  (and now more than that 26/01/09 ) off the value of UK [...]

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January 24th, 2009 by admin