Gordon Brown to be handed Spanish property petition

Prime minister Gordon Brown is to be put under pressure to discuss the Spanish real estate market with his counterpart Jose Luis Rodriguez Zapatero.

According to City Wire, a petition is set to be delivered to Mr Brown this month calling for him to take action on the issue of how the collapse of the Spanish property sector has affected British investors.

It urges him to complain on behalf of those who have been adversely affected by the recent activity in the market - which has seen a number of developers fall into financial difficulty - and asks him to call for the implementation of European Union sanctions on the country's property sector.

Should such a move be made, it may be welcomed by investors who have been hit by the slump in Spain and seen homes lose their value.

Recently-released figures from the country's National Statistics Instit

ute have revealed that sales of property in Spain declined by 26 per cent in December 2008 when compared to figures from the previous year.

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