Ricardo Costa kicked out

Prices further down

Banks must rese3rve 57,000 million

David wins over Goliath

Ricardo Costa kicked out

Ricardo Costa, General Secretary of the PP in the Valencia Region and spokesman for the party in the Regional Parliament, has been forced out of both posts, after the national leader of the biggest opposition party, Mariano Rajoy, ordered President Camps of the Valencia Government to kick him out.    Camps resisted the decision as long as possible. Why?

Prices further down

Prices in Spain, according to the official index, continued their downward trend in September, with the index falling 0.2% and thus bringing the annual fall to minus 1%; the seventh consecutive month with negative prices which confirms the continued recession in Spain.

Moody’s: Banks must reserve 57,000 million

The Rating Agency Moody’s, has revealed that Spanish banks and saving banks must reserve 57,000 million euros to meet possible non-payments from building promoters and individual clients. The agency calculates that total anticipated losses may be 108,000 million euros. The banks have of course refuted what they call the Agency’s “catastrophic” information, and points to the possibility of “recuperating assets” meaning, re-possessing the mortgaged properties.

David wins over ‘Goliath’ in Parcent

Three projects for large-scale urban developments with a total of 1,800 houses in the small village of Parcent (Alicante) have been finally trounced by Alicante’s Urban Planning Commission,  due to an insufficiency of the water supply.  The inhabitants of the village have fought courageously for fours years against the ‘Goliath’   promoters (including crooner Julio Iglesias) who paid the previous town council heavily to have their projects approved.

Re-sale properties fall most

The latest numbers from the Statistical Institute confirm that the fall in sales of dwellings is still continuing.    In August the fall was 9.9%, with re-sale dwellings noting a fall of 13.7%.   From January to August sales of such properties fell 37%.    We expect the percentages to moderate in the coming months, since the number of transactions, mostly among Spanish, has reached a bare minimum.

Anger over “health tourism”

Spain is angry over alleged “health tourism” where foreigners come to Spain to get the operations they have to wait longer for at home. The Spanish Union of Doctors blasted what they termed “scalpel tourism” where Britons temporarily become resident in Spain to skip queues at home. The Union reported that foreigners account for 15 to 20% of people treated in local hospitals.    The Director of Malaga’s Costa del Sol Hospital, Antonio Perez, has also complained of an increasing number of the foreigners taking advantage of the fact they own a home on the Costa del Sol to use the Spanish health services.