September 10, 2019 / 8:12 AM / 11 days ago

ECJ advocate general paves the way for Spain's IRPH to be considered abusive - spokesman

MADRID, Sept 10 (Reuters) - The European Court of Justice’s advocate general on Tuesday said that Spain’s mortgage price index (IRPH) should not be excluded from the remit of EU directives.

“The advocate is basically paving the way to recognize that IRPH could be considered abusive,” a spokesman for the ECJ court said after the advocate’s conclusions were published.

The conclusions are non-binding but are often followed up on by the court.

Shares in Spanish banks fell, with Caixabank and Bankia down around 3%. (Reporting By Jesús Aguado; editing by Ingrid Melander and Andrey Khalip)

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