Yesterday in the Basque country a woman jumped to her death when the bailifs were coming to evict her from her 4th floor apt. in a suburb of Bilbao. Amaia Egana jumped to her death as bailiffs approached to evict her from her fourth-floor apartment for failing to pay the mortgage. She worked at a local bus depot, was married to a former town councillor and had a 21-year-old daughter.
On friday evening thousands marched along the streets of Barakaldo in solidarity with the woman with many of them carrying posters saying murderers and condemning the Banks for pressing ahead with a relentless pace of evictions.
The figures behind her story are quite interesting. Egana and her husband’s mortgage debt of 164,000 euros ($208,640) rose to 213,000 euros because of charges and interest payments, while their home had been auctioned for 190,000 euros. There home was sold for a price higher than their principal.
In Spain its no different. As breakingnews.ie points out:
The ever hesitant, and confused, Rajoy has decided to now suspend evictions of those most in need. Much comfort to the lady who died. Late as usual Manuel and maybe for the wrong reasons he intervenes now.Homeowners in Spain face greater risks than mortgage-holders in many countries. If they are unable to make the agreed mortgage payments – through unemployment or low income – they can get evicted but also remain liable to repay whatever value is left on the mortgage after the repossession.
The process of evicitions has been occurring at such a rate that the Spanish judges have began to complain stating that rather than putting in place a proper resolution system the banks are instead over-loading the courts to do the work for them. They have begun to seek reasons to reject applications often doing so because they are arguing the mortgages are abusive. That position received strong support from the ECJ in an opinion from their General Lawyer
You'd have to have had a wry smile on your lips reading the line 'community norms'. 1/10 citizens of the Union live in countries undergoing social collapse. Community norms seems a concept that should have been raised alot earlier.the Spanish law on eviction breaks community norms, because it does not an efficient protection for the consumer against possibly abusive clauses in the mortgage or purchase documents. She is insisting that the judge should have the possibility to suspend any forced eviction when the contract has an abusive clause.
What an abusive clause might looks like can be read here. My favourite is a
So you win but you lose. Its hard to see how that can even hold but under Spanish law who knows.Clause by which the borrower pays all legal fees on litigation - This clause means that if the borrower decides to take their lender to court for whatever reason, no matter the outcome of the ruling they will have to pay not only for their own legal fees albeit additionally for the banks’ as well (both lawyer and advocate).
The Spanish suicide rate is increasing and the sale of anti-depressants has jumped approximately 10% according to anecdotal evidence.
But its not just Spain in the US about 1,580 additional suicides occurred annually in the U.S. from 2008 to 2010 than would have been expected based on statistical trends before the recession.
Before the eurozone crisis began, Greece had the lowest suicide rate in Europe. But by 2011, suicides in the country had skyrocketed, shooting up 40% from 2010. The suicide rate among men increased more than 24 percent from 2007 to 2009.
When you think about such misery and then contrast the continued insistence of the ECB that the IMF is just wrong in claiming that multipliers are big, and greater than 1, and so indicating that austerity causes greater deteroriation than improvement despite all the evidence the IMF provides them you have to wonder are EU civil servants enjoying tax free salaries not a bit too isolated from reality. Its easy to think austerity isnt so bad when your not feeling it - a bit like the top tier in this country.