Tuesday, February 5, 2008

Costa del Market Manipulation Fiscal Rescue

Concerns over Spanish government's housing rescue plan

The Spanish government is reportedly considering a rescue package to "refloat" the housing market and slow job losses in the construction sector, raising concerns over investor appetite for the country's sovereign bonds. Premier Jose Luis Zapatero is eyeing the Public Credit Institute for a €10bn (£7.5bn) credit line to help developers and homeowners weather the squeeze following the partial closure of the capital markets, according to the financial daily Expansion. The Credit Institute is an arm of the Spanish treasury, used to promote technology and green energy. The government has also proposed a tax rebate of up to €400 per person, comparable in scale to the new fiscal package proposed by George W Bush in the US......

Posted by ski @ 08:13 AM (348 views)
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