Banks threatened for not supporting local business

LAST UPDATED: 4 Apr, 2009 @ 13:16
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Banks threatened for not supporting local business

Coin Mayor says if banks don’t lend again they will be blacklisted

IT is a novel way to force the ailing Spanish banks to part with their cash.

Angry at the reduction and withdrawal of investment for small businesses, Coin town hall has threatened to fight back.

In a bid to boost the economy and fight unemployment Mayor Gabriel Clavijo has warned that banks that “do not show interest in this town, its businesses and thus the families of Coin will not have the support of the town hall in any way.”

He warned that business with any of the 18 local banks will be cut unless they start lending again.

The move follows complaints from the town’s commercial sector.

Clavijo added: “Without money in circulation business owners cannot invest, cannot continue working and cannot continue to create wealth.”

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