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Sometimes people need to read black and white. They need to read black and white which has not come from expat lips tainted by beer, agency commission or cynicsm

This from The Independent

Any green shoots wither in Spain as jobless figures rise

Fears rise for the country's stability as unemployment reaches a 40-year high.
Alasdair Fotheringham reports from Granada

Sunday, 7 February 2010

High above the Andalusian city of Granada in the mountain village of Altos de la Zubia lies a network of some 10km of perfectly tarmacked roads, roundabouts, street lights, pedestrian crossings and playgrounds. Just one thing is missing from this gigantic housing estate: houses.

Rather than pavements, the pedestrian crossings run into masses of tumbleweed; the swings and slides are rusting; the roundabout spurs lead nowhere. Perhaps 5 per cent of the building plots have dwellings – the rest is bare earth. The silence is deafening.

On the opposite side of the Granada valley, gleaming in the Andalusian sunshine, are the service roads of a huge industrial estate. But there are no buildings beside them.

These sprawling roads to nowhere are like high tide marks from Spain's economic heyday of the early Noughties. But then it all started to go terribly wrong – and the country's workforce is paying the price.

As Spain has plunged into its worst economic crisis since the 1950s, unemployment has rocketed by nearly two million in two years – and last week it passed the landmark total of four million. That's 18.8 per cent of Spain's workforce, the worst figures since records began in 1964, the highest jobless total in Western Europe, and second only to Latvia in the entire continent.
http://www.independent.co.uk/news/b...in-spain-as-jobless-figures-rise-1891473.html

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I am convinced in my heart of hearts that Spain will come back but I do not expect it to be an easy ride.
 

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I am convinced in my heart of hearts that Spain will come back but I do not expect it to be an easy ride.
I'm convinced in my heart of hearts that one day you'll stop being the one who always brings the doom and gloom posts to the forum!! :rolleyes::rolleyes::rolleyes::D:D

Jo xxxx
 

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.....just make sure the blade is not rusty.

Have a great week
Poor old Enrique left the class throughly depressed. Not only was the article at super advanced level, but I don't think he really realised how bad things are in Spain. To top it all it was raining, there was fog on the motorway and they've got the Dutch inspectors in all week!!
I'm just phone later on to see how he's doing...
 

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There are similar 'roads to nowhere' within a five minute drive of our house. There's also very many unfinished apartment blocks just down the A7 from here, all the way to Sotogrande.
What will happen to these? They look as if they would have been unattractive if finished but in their half-way state they look ugly and depressing.
All the forecasts point to this year as the year when the crunch will hit really hard in Spain.
Facing up to this sad fact is not being unduly gloomy or pessimistic, it's acknowledging reality.
 

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Poor old Enrique left the class throughly depressed. Not only was the article at super advanced level, but I don't think he really realised how bad things are in Spain. To top it all it was raining, there was fog on the motorway and they've got the Dutch inspectors in all week!!
I'm just phone later on to see how he's doing...
Oh dear! Still, it's Valentine's Day soon - a cheery lesson on that then, or would that really send him over the edge?!?!:D
 

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They seem to miss completely that their customers are already paying (DEARLY) for that service.
Telefonica seldom MISS anything billable!
 

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I'm convinced in my heart of hearts that one day you'll stop being the one who always brings the doom and gloom posts to the forum!! :rolleyes::rolleyes::rolleyes::D:D Jo xxxx
:cool: Need relieving Steve? One day maybe I'll be up to more :ranger:
 

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Discussion Starter · #11 ·
Here's a good throat-slashing review!!

How's that Jojo?

This is before I mention the British pensioner murdered in his own home by a 14 year old or the tragic tale of the English lady who committed suicide after leaving a message on Facebook, The last two stories upset me more than any bank ruing their profits ...or lack therof.

I was also sickened by the photos of the Argentinian kicked senseless by SIX Welsh soldiers who were trying to steal a bottle of wine from his restaurant. One expects more from the armed forces.
 

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Hell's teeth! This thread's a bit of party pooper!:(



Doggy
(Having a little early morning dance to make himself feel better ............. I must go steady on that coffee;))
 

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Discussion Starter · #13 ·
I understand some appalling trade figures are due to be announced today. You'll find them here first!! LOL

I think I should start an Ian Drury thread. "Reasons to be cheerful are this"

1) Spain (La Roja) are looking good for the World Cup in South Africa

2) Come on guys ........!
 

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I understand some appalling trade figures are due to be announced today. You'll find them here first!! LOL

I think I should start an Ian Drury thread. "Reasons to be cheerful are this"

1) Spain (La Roja) are looking good for the World Cup in South Africa

2) Come on guys ........!
The nigh on orgasmic coffee:clap2:



Doggy
 

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Discussion Starter · #15 ·
...and the truly orgasmic pizza 4 quesos. Truly the food of the gods!

There is NOTHING to match a great cortado in a scruffy Spanish bar with two TV channels and 3 radio stations blaring out at the same time. The coffee machine is noisily brewing and half the village is arguing/agreeing about last night's game, Zappy's latest blunders, the local priest's charity fund and the price of licorice allsorts. All shouting, screaming and generally having fun whilst in the corner a table of octogenarians muse how it was better in "those days" as they curse their cards.

(Obviously the cortado tastes even sweeter if Jojo buys it for you!)
 

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Steve theres so much more to life than searching the internet looking for bad news to show everyone. None of it matters on a day to day level, people get by and there will always be those who come thru these so called bad times relatively unscathed - who even benefit from it. Being optimistic and enjoying the wonderful you have is whats important - Two thirds of the world are living in squalor, fear and are starving, they dont have homes, clothes, electricity, clean water. We're the lucky ones, so we should enjoy it and be happy IMO!!!

Jo xxx
 

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Discussion Starter · #18 ·
You are right, Jojo, about the xxxx in the world and the reasons to be grateful for every day. I am staying at a friend's house for a few days. Huge, immaculate with breakfast served in a delightful sun terrace. Gevalia coffee and the sun screaming through the windows. Chelsea lost and I am off to see Avatar this evening.

It does not get better! Hope you guys all have a great day too
 

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Discussion Starter · #20 ·
Mmm, so I am the only one posting the good news too.
4) Semana Santa
5) The fiestas but ....

February 8th, 2010
In a somewhat shocking and worrying statement, a leading Spanish lender has declared the country’s real estate sector is ‘bankrupt’.

According to Santos Gonzalez Sanchez, president of the Spanish Mortgage Association who speaks on behalf of the country’s mortgage lenders, there is so much debt in the industry that finance for property development has effectively dried up.

‘The real estate sector is bankrupt,’ he said, pointing out that Spanish developers had a combined debt of €324 billion in the third quarter of 2009, the equivalent of around 30% of Spanish GDP, according to figures from the Bank of Spain. The interest bill alone is around €15 billion a year.

More than 50% of the debt was used to buy land for which there is now no market. ‘Whilst those plots of land are not properly valued, the financial system can’t start afresh and won’t be able to finance new homes,’ Gonzalez told the Spanish press.

‘The viability of the Spanish property sector is in question and it is putting the financial sector in danger,’ he warned.

Gonzalez added that something drastic needs to be done. He said that the Government or the Bank of Spain needs to take a lead in tackling the problem instead of ‘looking the other way’.

Some experts believe that Spain needs to create a ‘bad bank’ where all the toxic real estate loans can be dumped, freeing the banks from their bad debts and enabling them to start lending again.

Gonzalez also warned that the situation has wider implications as the situation with the developers is pushing up the cost of credit for the whole Spanish economy. ‘The developers’ debts affect the credit ratings of the financial institutions, with all the consequences that has for a sector that still hasn’t fully recovered its liquidity. The financial system will have to explain how long it can bear this situation,’ he added.

Experts are also warning that Spanish banks may have to deal with a tidal wave of repossessions this year, with big implications for the property market. The auctions banks normally use to dispose of repossessions are struggling to attract buyers, as the credit crunch has hit even the opportunists who traditionally bought at auction.

Spain’s General Judicial Council forecasts 180,000 foreclosures this year, up from 114,958 last year. With few buyers at auction, banks will have to take back the properties onto their books at the write-off price of 50% of valuation, which implies recognising a loss. That could have big implications for the banks and the property sector in general.

The big question is what impact this new batch of repossession, the equivalent of 15% to 20% of the current inventory of property for sale, will have on the market. These properties could end up dumped on the market at write off values that will send prices down.

Property news | Real estate news | Property Wire
 
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