EU requests delay for Spain’s bad property bank

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    • #57052
      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
      Fuengi (Andrew)
      Participant

      Hi,

      But I thought this was approved last friday?

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