31 May, 2016 @ 08:07
1 min read

Andalucia’s damning debt

Spains economy e

Spanish and EU flag and euro banknotesFIVE Andalucia town halls have seen their debt rise by more than €1.5 billion since 2011, new figures show.

Jerez de la Frontera, Jaen, Huelva, Granada and La Linea de la Concepcion are among Spain’s most heavily indebted town halls.

During the period, Jerez de la Frontera lost more than any town hall in Spain,with debts rising by €412 million.

Jaen lost €312 million in the four-year period with Huelva (€135 million), Granada (€112 million) and La Linea (€112 million) all in Spain’s bottom ten.

Estepona town hall’s debt rose from €16.5 million to more than €77 million.

Staff Reporter

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  1. From a European perspective, theses debt figures is not dramatic. Jerez de la Frontera has a debt of 1 billion Euros. Oberhausen in Germany, a town of same size owns a debt of 2 billion Euros. Esteponas 77 Million debt may be compared to Arnsberg in Germany with a debt of 300 Million Euros.
    While the debt of Spanish towns is often related to a high unimployment rate, German towns suffer from a dramatic increase of social welfare cost for refugees from Syria, Afghanistan, Eritrea and the Balkans. This is a cause why xenophobic party AfD gets so popular in the recent elections.

  2. And of course you hav’nt figured in State pension and healthcare costs in the future, the multi-culturals never do. I know frau Merkel was typically arrogant and had contempt for all other Europeans but surely she consulted the German people before opening her mouth – did’nt she – oh well obviously democracy does’nt mean much to her.

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