Spanish Banks.
 

I was surprised to read this article today in light of comments I`ve read about Spanish Banks being tightly regulated.

http://www.surinenglish.com/20091113...911132104.html

For Spanish language readers you can read more of the situation and other issues here.

http://www.ausbanc.com/

The words Toxic debt, Large bonuses and Malpractice have been used to describe UK and US Banks, very little has been mentioned about Spanish Banks behavior in the UK.

Re: Spanish Banks.
 

Spanish banks were prevented by the Bank of Spain from buying those toxic debt packages that floored the US, UK and most other countries, but they were badly affected by the subsequent fall in house prices, because they have always allowed a high ratio of debt against value.

On top of that, the bank property valuations have been over-generous in the past, and they’re now sitting on vast numbers of repossessions were they have lent way over the actual value of the property, and they are likely to be stuck with those for years to come.

An end to the recession and a rise in interest rates will help, but then the large stock of unsold homes will hold things back. Everybody’s sitting tight until things improve, me included.

Re: Spanish Banks.
 

nicely summarised :thumbup: