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Spanish banks must set aside 50bn Euros to cover ‘toxic’ real estate assets

Friday, January 6th 2012 - 07:01 UTC
Full article 14 comments

Spain's Conservative government ruled out a bad bank to deal with toxic property assets, wary of adding more debt to a nation fighting to control its deficit and putting the onus on lenders to make their own provisions. Read full article

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  • drowe

    The Spanish government must force the banks to declare the “true” value of the property stock they are holding. Many banks are not fully completing on repossessions they are holding property in limbo thus not pulling the property onto their balance sheets and avoiding a declaring the true debt and a revaluation of the property at todays market value. Spain is littered with 1,000s of empty and uncompleted prperties and the market will take decades to recover. Spanish banks must face the fact they will need a “fire sale” to clear this stock.

    Jan 06th, 2012 - 08:08 am - Link - Report abuse 0
  • Yuleno

    1# that is interesting.These private entities,after the Fanny Mae debacle,have not done anything toward rectifying their situation.And instead of criminal actions they are getting a tax free period,if I understand correctly.This while innocent youths are sacrifice to a life of indolence.Capitalist justice is it?

    Jan 06th, 2012 - 06:59 pm - Link - Report abuse 0
  • Asdrúbal el Bello

    wow, 50 bn euros. British Pensions Funds meybe must pay ¡600 bn pounds!

    http://www.ft.com/cms/s/0/9d9fc7b0-3302-11e1-a51e-00144feabdc0.html#axzz1iinUAFhn

    By the way, pictures of MercoPress on the Spanish government have lost some... humor.

    Jan 06th, 2012 - 10:58 pm - Link - Report abuse 0
  • Fido Dido

    very clever of the spanish government to have a lady with a cute smile talking about “bad debts” and “not to worry” about it. She's honest.

    Anyway
    “The Spanish government must force the banks to declare the “true” value of the property stock they are holding.”
    That's called mark to market. They cannot do that, because that would prove directly that all spanish banks are insolvent, what they are in reality.

    Yuleno, you do realize that it's not capitalism, its crony capitalism (corporate plus government in one bed)

    Jan 07th, 2012 - 04:38 am - Link - Report abuse 0
  • Yuleno

    I do not know what capitalism isn't crony.Governments maintain the conditions for capitalism.As you can see,the poor are to pay the debt.How does that logic apply without the state to extract the debt from them via higher taxes and less benefit or pension.That is the role of the capitalist government hence the police and army is used against its paymasters,the worker

    Jan 07th, 2012 - 10:57 am - Link - Report abuse 0
  • briton

    Capitalists
    Socialist
    Communism
    Can you name the others..
    The point is, some condemn, but cannot come up with a better alternative,
    Do you or anyone else have a better alternative
    .

    Jan 07th, 2012 - 08:24 pm - Link - Report abuse 0
  • Yuleno

    I and others do
    Are you also a criminal or a coward.
    No no not a coward,anything but a coward bah bah

    Jan 07th, 2012 - 09:52 pm - Link - Report abuse 0
  • briton

    are you calling me a crininal and a coward
    do you want to go down that road,
    think

    Jan 07th, 2012 - 11:49 pm - Link - Report abuse 0
  • Yuleno

    Yes I do on this lovely summer's evening
    Just a thought young man

    Jan 08th, 2012 - 12:17 am - Link - Report abuse 0
  • briton

    A thief
    A country who steals what is not theirs
    Argentina

    A coward,
    A country that picks on the vulnerable and weak,
    Kill the innocent and murders nuns, and calls it the hello jump,
    Argentina,

    And who uses these childish words to insult those who refuse to give back there dummy
    Why, their bloggers of course,
    Yuleno
    The man who said it, certainly has most to hide,
    Sticks and stones maybe
    Childish name calling , as long as you cry for your dummies, we will IGNORE
    Adios,

    .

    Jan 08th, 2012 - 12:40 am - Link - Report abuse 0
  • Yuleno

    What road is this Briton.it's more or less your usual monologue.
    Why don't you say what you really want to say.Don't be scared

    Jan 08th, 2012 - 02:13 pm - Link - Report abuse 0
  • briton

    Your a thief and a coward, you are indoctrinated brainwashed, and a child
    To think you return politeness with insults,
    The difference between us is
    The British are people that you Argies wish to aspire to,
    But never will,

    And you Argies are something we don’t want to tread in,
    And will avoid you,
    So sod off

    Jan 08th, 2012 - 08:06 pm - Link - Report abuse 0
  • Yuleno

    More childish stuff Briton
    Why do you praise the British and then proceed to disgrace them with your behaviour.

    Jan 08th, 2012 - 10:24 pm - Link - Report abuse 0
  • briton

    the child utters

    Jan 08th, 2012 - 10:52 pm - Link - Report abuse 0

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