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Spain Fin Min Denies Plans For Real-Estate Sector Bailout |
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HOME >> NEWS >> Spain Fin Min Denies Plans For Real-Estate Sector Bailout |
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 MADRID -(Dow Jones)- Spanish Finance Minister Pedro Solbes denied Wednesday local media speculation that the government would bail out the country's real- estate sector, which is suffering from a sharp slowdown in sales and tight credit conditions.
"I absolutely don't think the government should enter the real-estate sector," Solbes said at a conference in Vitoria, in northern Spain. His remarks were confirmed by a ministry spokeswoman.
The government's involvement in the sector is limited to provide EUR3 billion in guarantees for price-protected housing programs, Solbes added.
In recent weeks, Spanish media has reported that the government was in negotiations with top, Spanish real-estate companies to open a line of credit through a government entity.
The heavily indebted construction sector has been struggling since last summer's meltdown in the U.S. subprime lending market brought an abrupt tightening of credit conditions to firms in the U.S. and Europe.
Source: www.nasdaq.com |
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International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
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