Happy New Year to you also Chrissie.
Hi Anna and Will
It is and has been unfortunate, in some ways, that because of the many differing circumstances and therefore needs of the creditor purchasers, it has not been possible to post information here. Good or bad. It is one thing to debate an issue, it is another to have ones integrity, sanity ect., questioned. I have kept my foot in as many doors as I can get it into and gather as much information from these sources as I can. I feel I have a need to know, not because I feel I can influence anything but because due to the issues I find myself facing I need to make my own judgements, sift the wheat from the chaff and accept responsibility for my own decisions. Nothing in Spain is ever as it seems. In reality, for many of us without the much maligned BG, despite the retoric, nothing has changed since Hdt were first granted 'Suspention of Payments' by the courts. My view, at this present moment in time, is that I have a contract worth nothing, if the company is liquidated, I have nothing, if it stays afloat I may have something in the future, so I have nothing to loose.
You ask. What is your view on the current events? In a nutshell. I cannot take SADM as a single issue when asked this question. The whole of the Spanish Junta needs to be secured in straightjackets and locked away permanantly. The arrogance, possibly bred from Francos days, and attitude 'We are the Junta we can do as we like' is holding the whole of Spain back. The country as a whole needs innovation not corruption. It is my greatest hope that the next generation leaving the universities will bread innovative leaders who do more than talk. Who will have a more broadly based knowledge of the commercial world (outside of Madrid) and who will understand that in this life Nothing comes for Free. I apologize, unreservedly, if this offends any Spanish people reading this. It is opinion as an expat of 10 years standing, who is as fully integrated as a foreigner can be.
Do you still think people may get their house?
I do not know or think about it one way or another. Personally, I have never said that I think people will get their houses. What I have said is I want my house. This is not unconditionally. For me everything that happens is taken in sections, dealt with and then on to the next. In my experience it is the only way to deal with things here, as the goal posts change constantly. Get information, filter it , ask yourself questions 'has any of that changed anything for me' ' so what do I think now'
However, at this late stage I feel, this is the wrong question.. The question is 'Will the creditors agree the proposed settlement agreement' after that comes the question you have asked.
Or I can ask a much more important question. 'Are the banks going to support it' The Banks are all powerful here. You could say they rule the world. In an ideal world the banks should have no power over the law but it is not that simple. Bankrupt banks can pull the country with it. There are many pertinent questions to ask here. A list to long but The Banks have taken all the housing stock they can manage. They hope this will turn to profit in the future as it did once before. Ask your self ' what happens to the banks in Spain if all the companies in suspension of payments are liquidated' does this debt they are owed, which runs into billions and mainly affects Savings Banks, become a debt. Will they ever realise this debt with the sale of assets in these liquidated campanies. Answer no. Not at this present time.
My guess, and I emphasize it is only a guess, based on information I have gained by sticking my foot in a few doors, is that the banks will agree to the proposed agreement. It would not surprise me in the least to learn that one bank has had a little finger in influencing the content of the agreement ( I might add here to the best of my knowledge, no-one outside of the inner sanctuary has seen the Proposed agreement although rumours are rife, that is all they are). The banks are virtually in the same position as those of us with a contract that is worth nothing.
This leads to yet another question. How much of the 51% (financial) vote do the banks already command.
More questions than answers.
I hope the above gives some food for thought.
I also hope that my views and opinions do not upset anyone.
Happy New Year to you all.