Foreign banks flee Spanish property debt By Ambrose Evans-Pritchard in Madrid Last Updated: 1:06am BST 04/04/2008 International banks are scrambling to sell their holdings of Spanish mortgage debt at a steep discount, fearing that the country may be sliding into the worst economic downturn in its modern history. A blizzard of grim data has soured the mood, capped yesterday by a plunge in PMI purchasing managers' index to an all-time low of 40.9. Car sales fell 28pc in March, and even Madrid's legendary tapas bars seem to have lost their late-night sparkle. Read more by Ambrose Evans Pritchard The Spanish...