Live News From Spain As It Happens

nick said:
Saturday, March 16, 2013 @ 3:07 AM

About bloody time, its been a long time coming!

nsmisa said:
Saturday, March 16, 2013 @ 6:39 AM

Shame the ECJ don't act on the non use of escrow accounts for off plan purchasers. I believe that was illegal under Spanish Law? Didn't stop Aifos from ripping off 100's of millions though, did it? They (the Spanish) used their EU membership to con Northern Europeans into thinking they were a legitimate safe haven for investment. In reality, their 3rd world practices made investing in Central Africa as safe an option!

print47 said:
Saturday, March 16, 2013 @ 10:02 AM

I agree why, won't the Spanish government force the banks to pay back investors under law 57, those who have been conned by developers and lawyers, when the banks never made the developers pay the insurance bonds.

John said:
Saturday, March 16, 2013 @ 10:27 AM

What will this mean for someone who has bought a re-possessed property in the last few months,and will it make the sales of them unsafe in the furure?

nsmisa said:
Sunday, March 17, 2013 @ 7:20 AM

Shame the ECJ don't act on the non use of escrow accounts for off plan purchasers. I believe that was illegal under Spanish Law? Didn't stop Aifos from ripping off 100's of millions though, did it? They (the Spanish) used their EU membership to con Northern Europeans into thinking they were a legitimate safe haven for investment. In reality, their 3rd world practices made investing in Central Africa as safe an option!

Bernie said:
Sunday, March 17, 2013 @ 12:40 PM

I would not advise anyone to invest money in Spain. Dealing with them is like trying to nail jelly to the wall! All they ever do is move the goalposts. How many mayors are in prison? The sad part is they have killed the golden goose & they dont realise it, and carry on shruging thier shoulders. So much for a better life, no thanks! Bernie

daylepel said:
Sunday, March 17, 2013 @ 10:34 PM

I totally agree with the other comments. Having been ripped off to the tune of 75,000 by Polaris World in Murcia I wouldn't recommend anyone to put their hard earned cash into Spain. Absolutely everyone, without exception, is bent. It's too late for me because my money has gone, but anyone else considering it - do yourself a favour, and DONT !!
The system is totally rigged for the benefit of the Spanish only - European law, or any other law, is of no relevance to them so don't get involved in the first place and keep your money in your pocket - you'll be glad you did !

John said:
Monday, March 18, 2013 @ 12:51 PM

Dead right! You may as well invest your cash in the Congo - they are most likely more honest than the Spanish. We paid 60,000 for an off-plan investment. The developer spent the money and vanished, the builder went bankrupt, and the bank ( who had lent money to both ) foreclosed and we were left with nothing!

DO NOT BUY IN SPAIN!

John said:
Monday, March 18, 2013 @ 12:52 PM

Dead right! You may as well invest your cash in the Congo - they are most likely more honest than the Spanish. We paid 60,000 for an off-plan investment. The developer spent the money and vanished, the builder went bankrupt, and the bank ( who had lent money to both ) foreclosed and we were left with nothing!

DO NOT BUY IN SPAIN!