Brussels, 18/09/2012 (Agence Europe) - The level of dodgy debts held by Spanish banks stood at its highest for fifty years in July, with nearly one in ten mortgages classed as risky, announced the Bank of Spain on Tuesday 18 September. Most of the dodgy debts are mortgages at risk of default, which accounted for 9.86% of all loans in July or a total of €169 billion, the highest since figures were first recorded (1962), and is an illustration of the deterioration in the Spanish financial industry, to the concern of investors and Spain's European partners. Dodgy debts stood at 9.67% in June (revised figures) and 8.96% in May. Growth of the construction industry for a long time fuelled the Spanish economic boom until the bursting of the property bubble in 2008 at the outbreak of the world economic crisis. The property slump has dragged much of the rest of the economy down with it and hugely destabilised the country's financial industry, which is closely linked to the housing bubble. (LC/transl.fl)