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…by the new Spanish government.
Well so it says here (in Spanish):
Talks about chopping 30% to 50% off the values of property on the banks’ books, up to 80% off urban land, and nearly 100% off “rustic” land 😯
I’ll believe it when I see it, but it could be time to get the popcorn out!
The million $ question is will they reduce the price or will it be another fudge. If the Banks reduce the prices & with the latest strenght of the £ we could be in business. !!!!!!!!!!!!!!!!
I for one will not shoot the messanger.
If they reduce the prices most spanish banks will need a bail out. According to Sur Spain has just been downgraded 2 points by S&P.
@katy wrote:
If they reduce the prices most spanish banks will need a bail out. According to Sur Spain has just been downgraded 2 points by S&P.
They seem to be saying that any banks unable to take the hit would be merged. I’m not sure how merging banks holding dodgy assets solves the problem though – you just end up with an even bigger bank holding even more dodgy assets.
Katy: They will need a bailout at some stage as no bank can carry on with non peforming assets.
Chopera: That will be called the bad bank by defaault as Rajoy had earlier stated that no bad bank will be set up
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