Ann: Market Update - Spain ICR , page-11

I am not concerned with values NTA going down here;

what i am concerned here :

1. Continious deteriorationof Economy in countries where AEZ holds more then 50% of its assets (Greece and Spain)
2. 500mln debt is due this year and mojor lander classified them as non-core asset ( as per half year report - stated in one of the notes there - covering Going concern) ; word used there run out (?)
3. Does lender want to wait? what price will they ask for wating?
4.How much income will be efected from Greece and Spain this year?

Look at Romania there was substatial decrease in income;

Hard call;

I am invested in Japanese REIT (GJT) similar NTA story but i think it has sorted its DEBT (albeit paid high price) and economy is not that turbulent at least income is not suffering; hard call here too;

finger crossed