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    Going Through Denial, Spain Suffers Painful Housing Hangover

    18.05.12

    Unlike the U.S. and U.K., Spain has been agonizingly slow to accept the fact it got drunk on a massive real-estate bubble, exacerbating and prolonging the hangover now reeling through its financial sector.

    While it has begun to make amends with new measures aimed at cleaning up the mess, Spain and its troubled regional banks have yet to recognize the depths of their dilemma by taking the necessary painful writedowns.


    Source: Fox Business

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