UK House prices tumble

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Experts say there is little prospect of the market picking up for a while

The average cost of a house in England and Wales now stands at £153,600 - 2.2% lower than January 2010.
Both buyers and sellers are staying away from the market as uncertainty lingers over interest rates this year.
Estate agents have reported a decrease of almost 10% in the amount of people registering on their book, contributing to the 26% drop in demand in the last six months

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China Continues To Invest In Spain

China will continue to buy Spanish debt - Li Keqiang

(Reuters) - Chinese officials have faith in Spain's financial system and will continue to take part in government debt auctions, China's Vice Premier Li Keqiang wrote in an editorial in El Pais on Monday.
"China is a responsible, long-term investor in the European financial market and particularly in Spain, and we have confidence in the Spanish financial market, which has meant the acquisition of its public debt, something which we will continue to do in the future," Li wrote.
Spain has come under increasing pressure from international debt markets on concerns it may be forced to follow Greece and Ireland and seek an EU/IMF bailout, but while bond yields have risen, demand for Spanish debt remains solid.
Around 60 percent of demand for Spanish debt has come from non-resident investors, according to a Reuters source, and Asian interest has risen to a reported 9 percent at recent auctions.
The vice premier will begin a three-day visit to Spain on Tuesday before visiting the United Kingdom and Germany.
Li said China applauded austerity measures and structural reforms passed by Spain's Socialist government last year aimed at calming market concerns over its public deficit.
"China supports the measures adopted by Spain to readjust its economy, with a strong conviction that it will achieve general economic recovery," he wrote.

Source: Reuters

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Man from Ecuador snores his way to win Spain's first siesta championship

An Ecuadorean has snoozed his way to win the title in Spain's first national siesta championship.

The nine-day long competition organised by the National Association of Friends of the Siesta as part of a campaign to revive and promote the quintessentially Spanish tradition was held at a busy shopping centre in Madrid.

Unemployed security guard Pedro Soria Lopez took first place on Saturday and a prize of 1,000 euros (£888) after napping on a blue sofa for 17 minutes. His snoring, which registered 70 decibels – the noise of someone talking loudly – earned him extra points.

The 62 year-old said a big lunch before attempting the task had geared him up for a nap.

Each of the 360 contestants were given 20 minutes to lie down while a doctor monitored them with a pulse-measuring device to determine how long they spent snoozing.

Judges awarded points for original sleeping positions, loudness of snoring and most eye-catching apparel. Some contestants wore pyjamas, eye-masks and clutched cuddly toys

The nine-day long competition organised by the National Association of Friends of the Siesta as part of a campaign to revive and promote the quintessentially Spanish tradition was held at a busy shopping centre in Madrid.

Unemployed security guard Pedro Soria Lopez took first place on Saturday and a prize of 1,000 euros (£888) after napping on a blue sofa for 17 minutes. His snoring, which registered 70 decibels – the noise of someone talking loudly – earned him extra points.

The 62 year-old said a big lunch before attempting the task had geared him up for a nap.

Each of the 360 contestants were given 20 minutes to lie down while a doctor monitored them with a pulse-measuring device to determine how long they spent snoozing.

Judges awarded points for original sleeping positions, loudness of snoring and most eye-catching apparel. Some contestants wore pyjamas, eye-masks and clutched cuddly toys

Source- Telegraph

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