Spain: Credit to Families At Minimum Since 2007

Sure Spain still has a private debt problem. But it is on its way of getting solved, at least on the companies’ side, through the sale of assets and reduction of investments. And more slowly by the families, who already think twice when it comes to leverage, because of employment uncertainties (77% of the credit to families comes from housing mortgages). Thus, credit to households is at minimum since 2007. The credit to businesses went down 6% year on year, according to Bankia.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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