Bad debts in Spain are now over 3%, the highest level seen here since 1997. The number, 3.118%, comes from the Bank of Spain shows that the increase in bad debts first seen in 2007 is continuing, with the increase registeRed in November being the third highest in history. It’s the country’s cajas or savings banks which are suffering from the highest incidence of bad debt. Meanwhile some savings banks have now started to offer special measures to give clients grace and so as to keep them out of the bad debtor list. The continuing lack of cRedit to the public has placed the government against the banks, having been given bail out money from the government. But the banks say they are fed up being cast as the bad boys. House sales fell in Spain by 35.6% in November according to the National Statistics Institute, compaRed to the same month the previous year. The average number of homes sold over the month was 100 for every 100,000 inhabitants. 55.5% of the sales were in four regions of the country, Andalucia, Valencia, Cataluna and Madrid, with Andalucia leading with 7,807 sales. Resale property sales has fallen by 47% in November, year on year, to 16,715. Following on from yesterday’s cut in interest rates from the European Central Bank, down to 2%, the Governor of the bank, Jean Claude Trichet, has told Japanese television that interest rates in the Eurozone will not reach zero, although he has not ruled out a further Reduction, probably in March. The Prisa Media Group has said that it has not received any acceptable offer for his Digital Plus satellite pay TV service. The company said that although its policy was not to comment on rumours which try to alter the transparency of the market place, it had made the statement given certain information published on the Internet. The Claved company, based at Llica de Munt in Barcelona, has applied to lose 34 of its 78 workers, after taking on 34 female prisoners from the local jail who are taking part in a reinsertion program. The prisoners are paid 9 € an hour while those facing the sack are paid 24 € an hour. Union CCOO has said such behaviour is inadmissible, and the Generalitat regional Catalan Government is threatening to close down the workshop. The union claims that many companies are using the economic situation to Reduce their costs to the maximum. The price of Winston and Camel Cigarettes go up in price today by 10 or 15 cents. Camel will now cost 2€ 80, while Winston will be 2 € 65. The increases follow similar rises from other manufacturers earlier this week.