Home / Articles & Videos / Spain’s Banks Face More Pain From Property Clear-Out

Spain’s Banks Face More Pain From Property Clear-Out

Banks were left holding hundreds of thousands of houses, half-built commercial and residential developments and plots of land after borrowers and developers ran into trouble when the property boom turned to bust in 2008. Property-related losses eventually forced the government to secure a 40 billion euro ($53 billion) bailout for its banks from Europe.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Translate »