Spain’s woes escalate. Borrowing costs hit 7.53% before falling back slightly today. Murcia and six other regions are reported to be bankrupt and heading to Madrid for help. Last quarter GDP -0.4%. Ibex down an additional 3% on Fridays close of 5.75%
Full blown bailout can only be weeks away now, then what?
The economy is a basket case. Spanish property toast. http://www.bbc.co.uk/news/business-18950896
I had a call today from a contact offering me some property at -80% of it’s peak value. Desperation indeed. 😯