Cranes tower over apartment blocks under construction outsid
Bareksa • 05 Feb 2014
A construction worker pauses during works on an unfinished apartment block outside Madrid (REUTERS/Paul Hanna)
Debt levels are still high and the construction sector is stuck
Reuters - Spanish builders have cut debt by selling assets and reducing staff, leading to sharp stock gains in the past year and catching the eye of billionaires George Soros and Bill Gates. But other investors are cautious, saying debt levels are still high and the construction sector is stuck in the doldrums after a property crash that helped drive Spain's economy into its worst slump of modern times.