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real estates English
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News and current affairs
A quarter of the labor force and half of Spain's youth are unemployed, reflecting the country's loss of competitiveness in the wake of the real-estate bubble inflated by cheap euro credit in the pre-crisis period.
In Spain, for example, local savings banks (cajas) financed an outsize real-estate boom.
Until recently, the Spanish authorities maintained that the problems in their country's real-estate sector were temporary.