Spaniards Protest Against Evictions
By HAROLD HECKLE
MADRID (AP) â¿¿ Demonstrations were held across Spain on Saturday to protest harsh repossession laws that have led to hundreds of thousands of evictions during the country's deep recession.
In Madrid â¿¿ one of 50 cities where such protests were planned â¿¿ thousands of people marched to demand that the government amend the laws. Demonstrations also took place in cities such as Barcelona, Pamplona, Valencia and Seville.
More than 350,000 Spaniards have received eviction orders since 2008 because they were unable to make mortgage payments. Unemployment is at a staggering 26 percent, with young people the worst hit as Spain descends into a double-dip recession.Most of those evicted remain liable to repay the sum originally borrowed, even as the value of their homes plunges, rendering them hard to sell. Ada Colau â¿¿ a spokeswoman for the Stop Evictions platform who helped organize the demonstrations â¿¿ said the protesters are making these three demands on the government: â¿¿That unemployed homeowners who cannot pay their mortgages can give their homes back to lenders as payment in kind and that this option is made available retroactively. â¿¿That a moratorium on evictions is imposed. â¿¿That vacant, unsold properties held by lenders are rented out as social housing. Alarmed by growing disquiet over high eviction rates and the protests they have triggered, Prime Minister Mariano Rajoy's government already has yielded to demands to review the country's mortgage and eviction laws. But many observers say the changes, affecting the powerful but struggling banking sector, could take months or years to be approved as they make their way through parliament. "We cannot permit the legislative initiative that has already been given tacit approval by the government to be weakened or reduced to end up something unrecognizable," said Colau. "Our three demands are the bare minimum required."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV