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Spain's debt defaults rise nearly 200 pct in 2008
February 5, 2009 / 10:12 AM / 9 years ago

Spain's debt defaults rise nearly 200 pct in 2008

MADRID, Feb 5 (Reuters) - Spanish debt defaults leapt 197 percent in 2008 with construction and property firms accounting for 4 of every 10 failures as the credit crunch coincided with the end of Spain’s housing boom, data showed on Thursday.

The number of firms and individuals that filed for administration rose to 2,902, the highest level on record, Spain’s National Statistics Institute reported.

Reporting by Andrew Hay; Editing by Victoria Main

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