Andalucia requests €1 billion bailout

LAST UPDATED: 4 Sep, 2012 @ 16:44
Andalucia requests €1 billion bailout

ANDALUCIA has requested a €1 billion loan from central government as it continues to fight mounting debt.

The region – which accounts for around 15% of Spain’s gross domestic product – is the fourth to seek emergency funding, following Valencia, Cataluna and Murcia.

Regional finance chiefs say the money will be used to pay bills in the short-term while a formal request for a state bailout is considered.

Officials in Madrid set up an €18 billion fund in July to help the regions meet debt payments, with Cataluna having requested around €5 billion and Valencia €4.5 billion.


The Olive Press are not responsible and do not moderate individual comments before they are posted. Anyone who uses racist, sexist, homophobic or xenophobic language or hate speech will be blocked.
  1. Cut all: government spending,INCLUDING: compensation to politicians, civil servants, consultants to Gov’t, Royal Family costs, aid to Foreign Countries… etc. by 20% NOW!
    If persons do not agree, they can resign immediately, and those positions will be filled by the unemployed at FAR lower cost… gladly!