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Kiron Sarkar
February 2, 2012
Hi there,
A bit old and the Spanish banking regulator has started to force banks to BEGIN to address the issue. However, the situation remains extremely serioussssss, guys.
Once again, WATCH OUT FOR SPAIN.
The new administration has inherited a can of worms from the previous Government. It will be forced to reduce GDP growth forecasts, whilst increasing expected budget deficits. Unemployment continues to rise - under 25's now OVER 50% - yep that OVER 50%.
In Ireland, average home sale prices are some 50% less than their peak valuation - and that's if you can find a buyer. Spain suggests it's just 15% !!!!!!, in spite of the fact that it has a much, much larger unsold housing inventory, combined with rising unemployment.
Best
Kiron
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