4 Sep, 2012 @ 16:44
1 min read

Andalucia requests €1 billion bailout

junta de andalucia grinan

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.

James Bryce

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  1. Give them all what they want,they will only add it to the rest of the rising prices,fuel ,electricity food taxes ,etc,and the people can be kept happy moaning about the cut backs being made and so it goes on

  2. 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!

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