Raisethefist.com: Spanish Are In Some Deep Trouble Again
Spanish Are In Some Deep Trouble Again
by anonymous Fri Jun 8 22:50:41 PDT 2012
Spain's banking sector is facing up to years of bad investments, largely in real estate, which was buoyed by cheap credit and the country's sunny climate.
Its housing boom-times of 2002 to 2008 were fed, in part, by retired north Europeans buying up second houses in places such as Valencia and Murcia, according to political scientist Julio Embid, of think-tank Fundación Alternativas.
Families also bought up expensive houses with long mortgages during this time, he said. When the economy collapsed in 2008, people lost their jobs -- and with them their homes.
Raisethefist.com exists in the interest of free speech and independent media. Raisethefist.com does not encourage illegal activity nor the use of any information posted to this web site for illegal purposes. Raisethefist.com exists for educational purposes only. The views and opinions posted to this site do not necessarily reflect those of Raisethefist.com, the domain name holder of raisethefist.com, or webmeisters , developers or other users directly affiliated with raisethefist.com.
Raisethefist.com does not and will not disclose logs, ip addresses or user information to any party; organization, individual or agency. We do not log ip addresses nor do we provide any related information, records or logs for any purpose. User-privacy is our priority and we up-hold this policy 100%.
By visiting this site you agree to understand these terms.