Day: November 24, 2011

AFP: Families evicted as Spain debt pain hits home

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Grim-faced and flanked by riot cops, two bailiffs arrive on Consuelo Lozano’s doorstep in Madrid to evict the latest victim of Spain’s burst property bubble. Police shove away a crowd of her friends and neighbours, dragging off several by the arms and legs. “Sons of bitches! Bastards!” yells the 60-strong crowd, pinned back by a line of riot shields. “Shame! Injustice! Banks are robbers!” A 40-year-old unemployed cleaning lady, Consuelo is the last of her Continue reading AFP: Families evicted as Spain debt pain hits home→

More bank bail-outs loom for new Spanish government

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A crippling squeeze on funding for Spain’s banks has pushed them to the brink and the new centre-right government has nowhere to turn to finance more expensive bail-outs or the creation of a bad bank. The Bank of Spain took over small bank Banco de Valencia on Monday, the day after an election in which the People’s Party (PP) swept to power, to inject 1 billion euros ($1.4 billion) of capital after the lender ran Continue reading More bank bail-outs loom for new Spanish government→