"Courtesy of Google translate, please consider Late payment of the financial system up to 7.14% in August,
highest since 1994
Defaults on loans granted by banks, savings banks, cooperatives and credit institutions (EFC) to individuals and companies in August stood at 7.14%. This is the highest level since November 1994, according to the Bank of Spain.at http://globaleconomicanalysis.blogspot.com/2011/10/late-payments-in-spain-soar-to-714.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
According to the provisions of Bulletin Gesif Axesor tracking delinquencies and entrepreneurship, the default rate of banks in Spain will end the year 2011 about 8% as it will keep the upward trend in the last months of the year.
With the default rate on the rise and persistence of the difficulties of access to credit would not be surprising that the ratio of non-compliance continued growth path of 9%, predicts the newsletter..."
