Sunday, 22 November 2009

Granada city chunk of his ear was partially severed during the biting attack.

man has been arrested by the Civil Guard for assaulting four people who were changing a flat tyre outside his home in La Zubia, Granada province, last Friday night. Annoyed by the noise they were making as they were putting on the car’s spare wheel, the Civil Guard said one of the four was admitted to the Traumatology Hospital in Granada city after a chunk of his ear was partially severed during the biting attack.Another man had five stitches to a bite wound on his hand, while the third was bitten on the shoulder.Granada Hoy said the fourth man escaped with bruising.

Doctor who was fatally shot while on duty at the local health centre in Moratalla

Doctor who was fatally shot while on duty at the local health centre in Moratalla this March has received a posthumous award with the title of ‘Adopted Daughter’ of Moratalla. The distinction of ‘Adopted Son’ goes to Juan Miguel Moya López, the ambulance driver who was injured while trying to save her life. La Verdad newspaper reports that the extraordinary council meeting which took the decision on Saturday also approved a special mention from the corporation for the three police officers who overpowered the gunman who fired the shots.34 year old María Eugenia Moreno Martínez was shot on 10th March 2009, dying in hospital the following afternoon. The gunman was a 74 year old retired taxi driver who claimed to the judge who remanded him to custody that he had received poor treatment when he had attended the health centre earlier that day.A monument in the doctor’s honour was unveiled on Saturday in the gardens outside the health centre which now bear her name, Doctora María Eugenia Moreno Martínez.

Sixth person has been arrested for suspected involvement in the fatal shooting two years ago of the Partido Popular Mayor of Polop de la Marina

Sixth person has been arrested for suspected involvement in the fatal shooting two years ago of the Partido Popular Mayor of Polop de la Marina, Alejandro Ponsoda, over, it’s thought, his failure to support a real estate project. The suspect arrested on Friday night is identified by El País as the owner of the Mesalina nightclub on the outskirts of Benidorm where the murder is believed to have been planned. The nightclub’s Uruguayan manager was arrested earlier last week and, along with the first two suspects, was remanded to prison by the judge.The two alleged Czech hit men believed to have killed the Mayor outside his home in Xirles on the night of 19th October 2007 were also taken into custody on Friday, in Benidorm and La Cala de Finestrat. They are reported to have had links to suspect No. 1, Raúl Montero Trevejo, who already has drug trafficking charges against him.The lawyer acting for the local businessman from Polop suspected in the case revealed indications last week that there are protected witnesses in the case. According to information from El País, five protected witnesses linked to prostitution were questioned again by detectives on Saturday morning.

Recovered the body of a German man who had been reported missing while paragliding in Barbate

Rescuers on Sunday recovered the body of a German man who had been reported missing while paragliding in Barbate the previous day.The 56 year old, who has not been named in reports, disappeared while paragliding with a friend over Barbate’s Hierbabuena Beach on Saturday afternoon. An intensive search was mounted involving five Civil Guard patrols, two helicopters, a Coastguard boat, Red Cross personnel and a team of specialist Civil Guard divers.EFE reports that his body was found in a rocky area of difficult access on the Barbate coast near the Torre del Tajo.

Friday, 6 November 2009

Bank of Spain will be introducing new rules in the next few weeks to double the amount written off by Spanish banks and Cajas

Bank of Spain will be introducing new rules in the next few weeks to double the amount written off by Spanish banks and Cajas (saving banks) when the banks hold repossessed properties for longer than a year.Currently, the banks and cajas, by law, must have provisions of 10% on the appraisal values for repossessed property that have been owned for a year or longer. This figure will now increase to 20%.
There are currently several theories for the this change being implemented by the Bank of Spain. The first is that this is a warning to the banks to stop trying to disguise their bad debts by swapping debt (from promoters/developers) for properties. Many banks have been successfully swapping debt for property with the long term view of recouping their money instead of simply writing of the bad debt.
The second theory, is to help motivate the banks to liquidate their property assets sooner rather than later by getting them to drop the prices. In theory this is a possibility as it is estimated that the Spanish banks currently hold 36 billion euros with of property assets. So we are talking about an additional write down 3.6 billion! In theory at least. Unfortunately the reality is that several of the largest banks, including BBVA and Santander, already make provision of 20%, so there will be no additional motivation to try and sell their properties faster.

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