Thursday, Jul 12, 2007
The Pain in Spain
FT.com: Spain caught in credit freeze
Spanish companies face much tougher credit conditions as a result of a dramatic change in perceptions of country risk, brought on by fear that Spain’s house price bubble is about to burst.
According to rating agency Standard & Poor’s, Spanish corporate debt is at an historic high point, totalling 106 per cent of gross domestic product last year compared with a Eurozone average of 70 per cent.
Posted by lvmreader @ 02:44 AM (154 views) Add Comment
2 Comments
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1. paul said...
Ooh. This is more interesting than it first appears.
The credit freeze has come about because of the expectation of a housing crash. Interesting.
2. dohousescrashinthewoods said...
good call - psychology