The infantile news jocks at the mail on Sunday, ran a piece about Spanish Property predictably entitled, "Costa Nightmare" - yawn. The story about how, Banco de Sabadell, a Spanish bank obtained a European Enforcement Order to recoup monies owed to them.
In 2004, an English couple, the Chatterton's signed a contract to purchase an apartment in Duquesa, on the Costa del Sol.
They found it difficult to make the repayments and offered the property back to the bank. The property was in negative equity and the bank wanted to recoup the rest of the money the Chattertons owed. So the bank has used a piece of EU legislation to claim assets from an uncontested debt.
The mail's skew on this story is that it's somehow unfair, and that the big nasty EU is interferring in our lives.
It's one example of where the EU's legal to our lives is justified and wanted.
The ability to more easily recoup monies from debtors across european borders, makes Europe a better and more financially sound place to live.
Whilst it's sad that people should find themselves ina situation where they lose their home because they are unable to pay back a debt. A contract is a contract and a debt is a debt. Were these people naively thinking that the shores of blighty somehow protected them from their creditors?
Wiltshire MEP Ashley Fox (Conservative) is reported to have said; ‘To me this is against the laws of natural justice. I shall be writing to the Commission to ask that they investigate.’
Does Mr Fox believe that debtors should be able to escape their creditors, simply because they live in Wiltshire and not Malaga?
Perhaps Mr Fox should leave the conservatives and join the natural law party.
Mail ARTICLE:
Details of the eu legislation can be found here.
European Enforcement Order Legislation
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