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European Journal | Spain: A Town Takes On The Banks

448 views · Published 2 April 2009 · 4:57 · Indexed 20 September 2026

Channel: DW News · 2009 · News & Politics

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With a population of 200,000, the town of Elche near Valencia has long been the Spanish shoe capital. But these days, the industry is in the doldrums. Some 1000 people lose their jobs every month, and increasing numbers of residents are unable to pay their mortgages. Theyve begun organizing regular demonstrations, calling on banks to find an alternative to foreclosure sales.

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