Re: Re: Why did Ireland bother? Don’t they have Trojan horses?


Risk is the corner stone of any investment and has always to be measured. In the Spanish property market right now risk is everywhere and obvious. Property and in particular Spanish property has in the past served me well. However these days institutions currently selling are totally unrealistic. They believe if they hold out or hold on everything will be fine.
They are convinced the ECB will always be there for them so why right down their none performing assets to levels which reflect the current situation.
They can sit it out with a cheap flow of liquidity for as long as it takes.
Why is that option available? Because the European Union has a political agenda formed over 65 years to create a unified political entity. The very thought the Euro can fail is laughable because it’s simply not a possibility. Too much political energy by generations of politicians is invested in it.
That’s frustrating for a market investor, its distorting the true situation, bucking the market if you like.
All my instincts indicate the Spanish property market for the professional investor has had it’s day. The Euro and monitory union has seen to that.
However in the scheme of things for individuals such as I, we can move on to other things. The economy of the country however in my view is doomed to stagnation and that’s very sad.