When Spain's spectacular building boom went bust, it was the country's banks which were left with much of the debt including 200 billion euro worth of toxic property debt.

Today, it's estimated that there are 1.3 million homes for sale in Spain but the demand is only 350 thousand or one fourth of the supply.

And a lot of this Spanish property for sale is owned by the banks.

...
http://www.euronews.net/