“SPANISH house prices could drop by a further 50% and may not recover for the next 15 years, according to experts.”
The government will not last that long.
Now I understand why my friends, after having lived in sunny Costa del Sol for so many years, decided to go back to cold, dreary and wet Belgium.
What is even scarier, is in order to keep Spanish T Bill prices from dropping (and interest rates rising), Spanish gov is using the money from the national pension fund to buy T Bills that private investors refuse to buy. When the pension funds run dry and the Spanish economy does not recover, guess what Spaniards will find out that their pension funds are now broke.