Suicides over debts on the rise in Spain [A la Calle @ PressTV]

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Evictions announced to those people in debt have shoved them into the verge of "nowhere" in a way that they find no other way but suicide. Under the current law, evicted homeowners are still liable to repay huge amounts even though the value of their house has plunged during the past four years. In November 2012, Spain's government passed a two-year moratorium on evictions in response to popular protests and reported suicides. The moratorium, however, has stipulations that cover a very limited number of Spanish families. Since November 2012, a total of five people have committed suicide due to mortgage defaults and evictions. Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, taking with it millions of jobs. More than 350,000 Spaniards have since the recession received eviction orders. Spain must lower its budget deficit to 4.5 percent in 2013 and 2.8 percent in 2014. Economists, however, say those targets will be difficult to meet amid poor prospects for the economic recovery in the country. Watch this video on our website: Follow our Facebook on: Follow our Twitter on: Follow our Tumblr on:

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