- This topic has 9 replies, 9 voices, and was last updated 17 years, 2 months ago by
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A very interesting article of what is doing the goverment in order to avoid the bankrupt of the major Spanish property developers before elections:
http://www.cotizalia.com/cache/2008/01/10/20_moncloa_tratara_impedir_todos_medios_ninguna.html
If this is true. After elections we will have the total colapse. What is worse is that the goverment will try to save these companies with spaniards money!
Shame!
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Peter – interesting article, especially the last paragraph.
Roughly translated:
quote:
“The situation of the real estate sector from the point of view of its financing needs can be considered truly distressing. Not surprisingly, the sector debt (data until the third quarter of 2007) amounts to nothing less than 292,588 million euros-about 30% of Gross Domestic Product. This is a truly staggering figure that explains the concern of the authorities and economic policies, especially in two months when general elections are held”. -
Hopefully shoemaker will be out anyway, whilst all governments are a pain, this one has been awful to the man on the street – typical of all leftwing governments, hearts in the right place, unfortunately theres never enough money to do it all properly!
No doubt this will open a can of worms!!! Im ducking for cover right now!
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Crashes are not like Earthquakes that can be recorded in its location, time and intensity.
No Government has the capacity to stage manage a crash. A government could avoid this by long term policies. The Spanish Government could not/did not do anything for years. Whilst we on the forum have been long time anticipating things to happen without access to information, statistic which the Spanish Government had, no matter how inaccurate.
Do, I detect the Spanish pyshe of shrugging the shoulder, pasa nada manana. Even in Spain manana comes.
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maximus wrote:Quote:Chaves said yesterday that the construction slowdown is just a blip and he expects it to improve in a couple of months
And what is the weather like on Planet Zargg at the moment? 😆
Think it was Sr Solbes who said this. Sr Chaves is the other madman this time currently residing in Venezuela who was told by the King of Spain to “Shut up.”
However whoever said it is a liar,a madman or Walter Mitty. He is under orders from his boss to talk cobblers, which given his bosses surname is to be expected.
The cobbler´s government has done so much damage they have upset everyone except corrupt politicians and gays. At the same time it has been very clever in buying future votes, 2,500 euros given to parent(s) of every child born and a scheme to pay 250 euros a month towards rental bills for the under 30´s. Although this will probably dry up the rental market as most owners of rental property do not declare this income for tax purposes.
The crash whenever it comes will probably be after the election , in any event most Spaniards could n´t care a toss about a big developer going bust, all they worry about is if they can get through the month.
The Partido Popular , the official opposition ,has a handicap in that its leader has as much charisma as a cold souffle, he makes John Major look exciting. They should have won the election four years ago but the bombs at Madrid railway stations and the subsequent lies by its spokesmen that the outrage had been perpetrated by ETA, the Basque terrorist organisation when every man and his dog knew it was El Quaida, meant an enormous switch in voting took place and the PSOE got in. Sr Cobbler was always looked upon as a joke and has done little to make people change their opinion, but as far as the election goes ,someone once said”It´s too close to call” The fact remains whoever wins will have a hell of a mess to clear up. Being in the Euro zone will not help Spain as it can do nothing about interest rates, all it can do is tinker. The Balance of Payments is another enormous problem . Unemployment is set to rocket, Sr Cobbler was clever when he legalised 700,000 illegal immigrants this lead to the Social Security coffers bulging at the seams , however when these new contributors become new beneficiaries how will the Social Security coffers look?. Inflation is almost two points above the European average.
Caveat Emptor, the government in Madrid will be after money and it will not care whose toes it stands on, again I say leave Spain for at least two years, then think again, then think again,then rent for a year before buying.
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@peterparra wrote:
A very interesting article of what is doing the goverment in order to avoid the bankrupt of the major Spanish property developers before elections:
This is already happening:
http://www.huelvainformacion.es/article/economia/34418/la/junta/interviene/para/salvar/fivesur.html
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