Spain's Dodgy Housing Loan Data is Unbelievable

Non-performing loans are according to this chart restricted to property developers and construction firms, while in spite of a rise in unemployment to almost a quarter, household non-performing loans have remained almost static, which of course is hardly credible!

The full comment on the Spanish disaster from the Acting Man blog may be read from here.

The EU must quickly learn that once belief in its statistics is lost, pretty soon it will heve no credibility in any area whatsoever - then the final collapse will be already upon it!