EU requests delay for Spain’s bad property bank

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of Fuengi (Andrew) Fuengi (Andrew) 4 years, 3 months ago.

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  • #57052
    Profile photo of logan
    logan
    Participant

    The Spanish government were due to agree the setting up of the bad property bank this week. However the EU has requested it be delayed.

    http://money.uk.msn.com/articles.aspx?cp-documentid=251032744

    What difference this will make to the market is anyone’s guess. The assets will still need to be disposed of somehow. Mortgages on these repossessed properties may be difficult to obtain once the banks have them off their balance sheets.

    Will the government provide finance? I doubt it. They may just sit on the band banks books for years and years with little incentive to shift them.

  • #112095
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    Hi,

    But I thought this was approved last friday?

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