petew

Apparently Rajoy is going to Gdansk to watch Spain's first match. Well why not ??

petew

I recall we rented a flat for a short time in Albir, Costa Blanca. They were very small, badly built and being sold for 170,000 euros with 110% mortgages (to cover taxes etc). I doubt if they would bring 80,000 now if you could sell one. It was obvious even then that the price was inflated but people bought because of the 110% mortgages.

Fred James

That's the basic problem with the Euro - the countries don't have that option and the ECB won't do it (yet).

I bet they will eventually.

Bigger Jim

And from Merkel down they all loose face! but will still want to see their project finalised.

Jim

rugbymatt

So are you suggesting we let them fail?

bobd22

Suppose it depends how you define failure? 1/4 or near enough of the Countries in the Euro requiring bailouts (whatever you call them) doesn't strike me as a great success. Plus Cyprus indicating it will probably be the next.

bobd22

Fred per this link they have done QE may have hidden it but have done some
http://blogs.lse.ac.uk/europpblog/20...ecb-inflation/

HBG

You're paying extra in Albir for that walk along the promenade all the way to Altea. And the climb up the mountains on the other side. I like Albir, but I wouldn't pay 170K for a small apartment there.

CAM bank have a big branch there, just up from the sea, I would imagine that's where the 110% mortgage offer came from.

megmet

My money is on that too!

It will be interesting to see what the financial markets make of all this in the morning.
I for one will be selling my shares the moment they go back into profit, as a pensionista I don't need the aggro and uncertainty of it all.

HBG

I need someone to blame for what happened this morning, and I'm going to blame the British media and not my lack of economic understanding.

The British media, especially the right-wing lot, predicted that the Spanish bail-out would lead to a meltdown in the markets and speed up the failure of the Euro. I went along with that thinking; if the fourth biggest economy in Europe needs a bail-out, the whole Eurozone is bound to be in trouble - and by extension, the whole world.

Well, the British media was wrong, completely wrong. The markets and the Euro are all up.

(I was wrong too).

rugbymatt

I'm in Britain and all I ever read was that if Spain DOESN"T get a bail out then the Euro is likely to fail. Strange how we read into things what we want eh?

HBG

I live in Spain and the last thing I want is a collapse of the Eurozone. I would need to start packing and I'm not ready for it, yet.

rugbymatt

Well then we are all happy.

agoreira

Much the same reports as I must have read, Spain was always going to get a bailout, the sooner it accepted it, the better for all concerned, it would calm the markets. But most expats are paranoid where the UK press is concerned. Not sure why they bother reading it, stick to the Spanish press, you'll get the true picture there. Spain refused to use the word "crisis" for a long time after everyone else was suffering one, same as they denied a rescate was ever going to be necessary. I'd like to think this amount would be sufficient, but I have a nagging feeling they'll need a lot, lot more.

chrisjolly

And they are still denying its anything but a bank problem..why doesnt the Government legislate so that banks or any lender cannot just borrow money to lend money. We need tighter fincial regulation because the finance industry cannot and will not do it themselves. Where are the guys that got the banks into this mess? Nowhere to be seen! But you can be certain they are still enjoying good salaries and all the normal perks of their jobs.