Tag Archives: Spanish banks

Spanish banks on the mend as bad loans subside

The financial crisis of 2007-2009 has left a lot of collapsed Spanish castles in its wake, hitting Spanish banks hard.

Pictures of Spain’s ghost towns were splashed across the world’s newspapers at the beginning of the eurozone debt crisis. True, they weren’t as impressive as the Chinese ghost cities, but they show what excess debt and an inflated real estate sector can do to a country – and to its banks.

However, more than five years on since the crisis, the story is slowly changing.

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