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Private pickups Alicante airport.

Private pickups Alicante airport.

Old Nov 21st 2014, 12:49 am
  #61  
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Default Re: Private pickups Alicante airport.

I've worked there too (IT), and when the Americans were over for a conference and we headed off the main road for the 5* hotel west of Malaga it was one of them that commented on how he thought he was in a 3rd world country (approx 10 years ago).

Yes Spanish banks lent to people who couldn't afford to pay the bills... something they did in common with America, Britain and half of Europe.

France didn't create a housing bubble! Believe me, there are plenty of homes in France being sold for half what they went for in the past.

The countries responded to demand, it wasn't greed. Politicians stood by while a loosely regulated banking system made money available too easily, and people went into building in response. The greed was the people in UK "property shows" in hotels, buying off plan with expectation of massive profits. Remember how many leaflets a week used to come through the door advertising those?

Originally Posted by mfh
LOL you're joking of course. I've lived and worked here (IT) here since 1992 and never felt that I'd moved to a developing country.

As for your comment that its the fault of the American and British systems lending money to people that could not pay back make me think you were not here in the years 2000 to 2007 when nearly all Spanish banks were offering mortgages at 110% or even 125% to people who were on minimum wages.

Its an interesting fact that countries like France and Germany (I assume you accept they are part of the worlds financial system) did not create a housing bubble during those times of easy money.

The countries that did so (US, UK, Spain and others) were motivated IMO by pure and simple greed.

IMO Pedro Pete makes some very valid points especially about corruption, a stupid legal system.
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Old Nov 21st 2014, 12:55 am
  #62  
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Default Re: Private pickups Alicante airport.

So an investor paid his own money to his own company knowing it would fail.

That investor must have got the money he paid to himself from somewhere.

Once again, loose banks not doing due diligence and now, presumably, left with the bill which they pass onto taxpayers when the government bails them out.

So yes, the bankers' fault. You really can't see this?

Originally Posted by la mancha
Horlics.

Not entirely Spain’s fault…well, you certainly haven’t factored into your statement the Ciudad Real airport. ‘A BBC News magazine report suggests the airport was planned to fail by its investors, who benefited from construction contracts awarded to their own companies.’ Not the bankers fault, not the world’s fault, not America’s or Britain’s fault, but Spain’s greedy and corrupt fault.
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Old Nov 21st 2014, 1:00 am
  #63  
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Default Re: Private pickups Alicante airport.

In answer to this specific question, no it doesn't. People who bought in good faith only to find such problems are very unfortunate and whether they were speculating or not, what has happened to them is disgraceful.

Let me be clear, my issue is with property speculators who then gripe when the market turns against them.

My view is that there are many negative commentators here who fall into that category and then choose to play-up the corruption angle even though it wasn't the reason for their own personal problems.

Whether Pedro is in that category we'll never know because he doesn't want to get into specifics, and I respect that.

Originally Posted by la mancha
And I wonder if your version of ‘wild speculation’ means all those who, through the Spanish (corrupt) system, bought properties only to find that, years later, those properties British people bought from (corrupt) constructors, overseen by (corrupt) town halls, and through (corrupt) lawyers, were illegal?
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Old Nov 21st 2014, 1:21 am
  #64  
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Default Re: Private pickups Alicante airport.

Originally Posted by Horlics
etc. etc.
Let me be clear, my issue is with property speculators who then gripe when the market turns against them.

My view is that there are many negative commentators here who fall into that category and then choose to play-up the corruption angle even though it wasn't the reason for their own personal problems. etc.etc
Let me get this right, many of the posters here who post negative POV's on Spain and corruption are property speculators.

LOL you're funny
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Old Nov 21st 2014, 1:28 am
  #65  
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Default Re: Private pickups Alicante airport.

Originally Posted by Horlics
So an investor paid his own money to his own company knowing it would fail.

That investor must have got the money he paid to himself from somewhere.

Once again, loose banks not doing due diligence and now, presumably, left with the bill which they pass onto taxpayers when the government bails them out.

So yes, the bankers' fault. You really can't see this?
The loose banks not doing due diligence…but they did, knowing the project would fail. They were in it for the money. All of them. Local politicians sat on the board of the Castilla-La Mancha Caja. They got rich beyond their wildest dreams. Them and the bank’s directors.

‘The airport drove the Castilla-La Mancha savings bank, a 68% shareholder in the scheme, to bankruptcy, but not before it had handed out multimillion euro payoffs to its directors. The Bank of Spain has fined two of the politicians who sat on the board of Caja Castilla La Mancha for what it calls "serious violations".

They went into the project knowing it would fail, as long as they got their payoff. The bank, or caja, knew the project would fail. They did not care. I would say this is Spain’s fault, corruption on the highest scale, and not the worlds’ banks’ fault, or America or Britain. This was deliberate corruption on Spain’s part. However you want to paint it.
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Old Nov 21st 2014, 1:31 am
  #66  
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Default Re: Private pickups Alicante airport.

It's hard to tell isn't it. All we see is poorly written rants with no context.


Originally Posted by mfh
Let me get this right, many of the posters here who post negative POV's on Spain and corruption are property speculators.

LOL you're funny
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Old Nov 21st 2014, 1:55 am
  #67  
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Default Re: Private pickups Alicante airport.

Originally Posted by Horlics
It's hard to tell isn't it. All we see is poorly written rants with no context.
To be honest I haven't really seen any poorly written rants.

I've seen people who have negative POV's on Spanish corruption posting.

I try not to judge people on their style of posting or whether they make sweeping statements along the lines of 'many people here etc'

FWIW I think the context is clear enough, these people have had bad experiences here.

Just to be clear, this is not the case for me, Spain has been extremely good for me both from from a personal and professional POV, however that does not change my opinion that corruption is endemic here.
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Old Nov 21st 2014, 3:19 am
  #68  
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Default Re: Private pickups Alicante airport.

Maybe you haven't. But in my opinion, when all ills are blamed on Spain's corruption with no allowance for the global financial crisis that affected almost everywhere, it starts to look like a rant. Not to you, I understand that.

I wanted to work in Spain many years ago but the wages weren't high enough. As a result, I went to the Middle East, where believe me, there are plenty of half finished buildings and roads. It's not just Spain.

Originally Posted by mfh
To be honest I haven't really seen any poorly written rants.

I've seen people who have negative POV's on Spanish corruption posting.

I try not to judge people on their style of posting or whether they make sweeping statements along the lines of 'many people here etc'

FWIW I think the context is clear enough, these people have had bad experiences here.

Just to be clear, this is not the case for me, Spain has been extremely good for me both from from a personal and professional POV, however that does not change my opinion that corruption is endemic here.
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Old Nov 21st 2014, 3:56 am
  #69  
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Default Re: Private pickups Alicante airport.

This thread seems to have drifted from the original topic somewhat!
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