04.06.2012 - Spain: How the property market ‘broke’ the economy
The crisis growing within Spanish banks at the moment appear to have its roots in the country’s property market. Some 80 billion euros worth of loans by Spanish banks to the country's broken construction and real estate sectors are now considered near worthless – being at serious risk of default – while the drying up of credit also means that fewer people are able to afford homes...............................................Full Article: Source
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