MercoPress. South Atlantic News Agency
Spanish banks must set aside 50bn Euros to cover ‘toxic’ real estate assets
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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Disclaimer & comment rulesThe 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 01# 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 0wow, 50 bn euros. British Pensions Funds meybe must pay ¡600 bn pounds!
Jan 06th, 2012 - 10:58 pm - Link - Report abuse 0http://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.
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.
Jan 07th, 2012 - 04:38 am - Link - Report abuse 0Anyway
“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)
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 0Capitalists
Jan 07th, 2012 - 08:24 pm - Link - Report abuse 0Socialist
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
.
I and others do
Jan 07th, 2012 - 09:52 pm - Link - Report abuse 0Are you also a criminal or a coward.
No no not a coward,anything but a coward bah bah
are you calling me a crininal and a coward
Jan 07th, 2012 - 11:49 pm - Link - Report abuse 0do you want to go down that road,
think
Yes I do on this lovely summer's evening
Jan 08th, 2012 - 12:17 am - Link - Report abuse 0Just a thought young man
A thief
Jan 08th, 2012 - 12:40 am - Link - Report abuse 0A 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,
.
What road is this Briton.it's more or less your usual monologue.
Jan 08th, 2012 - 02:13 pm - Link - Report abuse 0Why don't you say what you really want to say.Don't be scared
Your a thief and a coward, you are indoctrinated brainwashed, and a child
Jan 08th, 2012 - 08:06 pm - Link - Report abuse 0To 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
More childish stuff Briton
Jan 08th, 2012 - 10:24 pm - Link - Report abuse 0Why do you praise the British and then proceed to disgrace them with your behaviour.
the child utters
Jan 08th, 2012 - 10:52 pm - Link - Report abuse 0Commenting for this story is now closed.
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