The owner of the property, Bankia, was set up when various small corrupt banks went bankrupt due to the property bubble collapse. It was ‘recapitalised’ with 22,424 million euros of borrowed public money, and it was written into the constitution that these new mega debts must have their interest paid before anything else ,(like health, pensions education) the total for all banks is over 100 billion!
So Spain, like Greece, is really a ‘cash cow’ being milked forever by international banks and funds. The PAH activists argue that as Bankia, Sareb, etc were set up or bailed out with billions in public tax money their assets of evicted houses belong to the people, and should not be sold off dirt cheap to international property sharks.
In Madrid the new left City Council had promised relief to the countless evicted for mortgage arrears or guaranteeing mortgage victims, but now seems to be rapidly changing its tune.
RIGHT TO HOUSING
A woman and her baby were brutally evicted after police charges in Villa de Vallecas barrio.
The National Police have charged against Vallekas PAH activists, one of them was taken to hospital. by Diagonal. The PAH ( mortgage victims support group) does not recognize the legitimacy of any government that does not approve its five demands... Continue reading “Radical Solidarity fails to stop Madrid family Eviction”
The Free 