With Spain now reported to be in a depression .What now?
Banks reported as being the biggest house owners what can we expect .Property prices have fallen and can they afford a fire sale that would in many cases cause them to fail.
Surely the E.U can’t allow this to happen as it would undermine the whole of the E.U. Countries and what the union is supposed to be all about.
Will The E.U Centre Bank not support the Spanish Banks until conditions improve and assets can be realised to cover the irresponsible lending of the past.
What will that do to the confidence in the Euro then?
Interesting times for the Euro Zone I feel.