From the Toryrag this morning...

"S&P cut Spanish debt one notch to AA with a negative outlook, warning that the fall-out from the housing bust will keep the country trapped in near slump until 2016. It said private sector debt of 178pc of GDP was a major concern."

Seems a little odd then to have such a clampdown on building permissions and refusal to issue Cedulas etc.

Yes, the papers were full of this today in the UK. The Spanish have really shot themselves in the foot here and have lost confidence as far as British buyers are concerned. I just hope that this will be the wake up call they need to sort this mess out!!If not more fool them!!

Spain's unemployment has now officially hit 20%, the highest rate in the Eurozone and 10% over the average for Europe!
That is pretty staggering. How does it feel on the 'coal face' so to speak? Are you aware of large numbers of unemployed or do you think it is centred in the larger cities, particular regions or rural areas?
Whenever I am in Catalunya the local population always seem very busy and industrious with no obvious signs of mass unemployment.

and at 20% unemployment expect some to be busy and industrious climing in and out of windows.......

wrote on May 1^st, 2010 at 1:30pm:

Spain's unemployment has now officially hit 20%, the highest rate in the Eurozone and 10% over the average for Europe! That is pretty staggering. How does it feel on the 'coal face' so to speak? Are you aware of large numbers of unemployed or do you think it is centred in the larger cities, particular regions or rural areas? Whenever I am in Catalunya the local population always seem very busy and industrious with no obvious signs of mass unemployment.

Hey Viking - I must say I don't see long lines of unemployed people. In the village where I have a building project going (Els Reguers) there seems to be lot of building still going on. Even in Tortosa I see a lot of activity.
The telling thing is this: I have recieved building quotes before and after the crisis, and THERE IS HARDLY ANY CHANGE in prices!
I think we need to remember, the people who give us these predictions of doom and gloom and 20% unemployment etc., are the same people who created the crisis!!
I work for an Investment Bank and know just how important sentiment is to these people... ;)

Famous euroskeptic Nigel Farage, in just under 4 brief minutes tells more truth about the entire European experiment than all European bankers, commissioners, and politicians have done in the past decade.
http://www.zerohedge.com/article/nigel-farage-european-parliament-euro-game-just-who-hell-do-you-think-you-are-you-are-very-d

Well, he'd get my vote on this particular subject