Wednesday, April 11, 2012
Spain’s future depends on scale of property write downs
"The government has ruled out more state aid for a sector that comprises a motley mix of international lenders and heavily indebted local savings banks. That leaves two options: raising private capital or turning to the EU for bailout funds". Merrill Lynch are getting stressed about property prices falling further. (I thought Ms Legarde said Europe's problems were fixed last month?).