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Spain has 300% of GDP private debt. And from these at least 200% are real estate debts.

This is what "the left" is all about. Party for bankera and oligarchs.

by kjr63 on Fri May 20th, 2011 at 03:26:53 PM EST
"And from these at least 200% are real estate debts."

Really?
Financial debt is 80-90%. This should mostly be from banks to other banks (or insurance companies), not real estate. Then household debts are similar, around 80-90%, now this should be real estate mostly. Are you suggesting that ALL non-financial business debt is real estate?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Fri May 20th, 2011 at 03:47:20 PM EST
[ Parent ]
I understand, most of non-financial debts are construction business debts. Very hard to find data, however.
by kjr63 on Fri May 20th, 2011 at 04:01:42 PM EST
[ Parent ]
Or maybe not. The problem is that several spanish corporations (some of them building companies) were buying things in Europe with debt (aka, London airports, etc.)
by kukute on Fri May 20th, 2011 at 05:23:45 PM EST
[ Parent ]
"(aka, London airports, etc.)"

Same thing. Rent-seeking, not productive investment.

by kjr63 on Sat May 21st, 2011 at 04:55:01 AM EST
[ Parent ]

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