“The overall bad debt ratio for Spanish banks was up from 11.2 percent in May and has been steadily increasing since a drop-off at the end of last year when rescued lenders transferred toxic property assets to Spain’s so-called bad bank. Spanish lenders’ earnings were gutted last year by steep government-enforced provisions on properties and loans to developers, in the wake of a 2008 real estate crash. Those unable to cope were bailed-out with European funds, and most of their real estate loans were transferred to a government-backed bad bank.”
http://www.reuters.com/article/2013/08/19/us-spain-bad-loans-idUSBRE97I07R20130819
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Arson charges brought after accidental hash oil homebrew explosions
U.S. Agencies to Say Bitcoins Offer Legitimate Benefits
'Make 401(k) Auto-Enrollment Mandatory'
World’s first successful uterus transplant recipient is pregnant via in vitro fertilization
Paypal suspends domestic transactions in Argentina
Other Agencies Clamor for Data N.S.A. Compiles
PETA angry over plan to control Guam’s snake population with toxic dead mice
Simple vinegar test can prevent cervical cancer deaths
U.S. government will finally retire most research chimpanzees but retain 50
Ron Paul: We're Broke and Already Over Fiscal Cliff - Bloomberg 11/08/2012
UN seeks Syria peace talks amid military strike threat
Lawmaker wants to make it legal to record conversations with the feds
Czechs unrelated to Chechens, diplomats remark after Boston blast
Bag with bomb was at FBI building guard desk for weeks
A’s for Athletes, but Charges of Fraud at North Carolina