Archive for March 2015

Spanish and German banks fail US tests

European banking giants Santander and Deutsche Bank have failed a US “stress test” designed to assess whether banks would be able to withstand a future financial crisis. The results were part of the fifth annual Comprehensive Capital Analysis and Review (CCAR) by the US Federal Reserve, which applies to the 31 lenders operating in the…

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Where Have Spanish Holiday Home Prices Fallen The Most?

Using asking prices from the idealista.com database for a sample of municipalities in different coastal regions going back to the last quarter of 2007 – around the time prices peaked in most areas – we get a good idea of how the prices have changed in different regions from boom to bust (chart above). In…

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Man hands home keys to bank

A man whose home loan repayments shot up from €350/month to €900/month handed the keys of his home to the Bank of Cyprus today accusing the bank of abusing the terms of his loan agreement. A DESPERATE home owner who could no longer afford to repay his loan walked into a branch of the Bank…

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Tinsa: Spanish House Prices Down 3.6 Per Cent in February

The Spanish House Price Index published by Tinsa, an appraisal company, was down 3.6 per cent in February compared to the same month last year, reminding us that the Spanish property crisis is still with us as far as the overall market is concerned. Including the latest fall in February, The Tinsa ‘General and Large…

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TSB confirms £1.7bn takeover move by Spain’s Sabadell

TSB has confirmed it has received a £1.7bn takeover approach from Spanish bank Sabadell. The approach to the UK bank comes less than a year after it rejoined the stock market after Lloyds Banking Group sold off 50% of the business. TSB said its board was willing to recommend Sabadell’s 340p-a-share offer. It said that…

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Developer Martinsa-Fadesa Finally Put Out Of Its Misery

After spending years in administration unable to cope with its debts, the Spanish developer Martinsa-Fadesa is finally being wound up by its creditors. Many foreign investors might have lost a chunk of their savings along the way. Martinsa-Fadesa’s main bank creditors – Sareb, Caixabank, Popular and Abanca, have decided to reject the latest last-ditch proposal…

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