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... Telefonica are NOT the only service provider of Telephone Lines, Internet Access or Mobile Phones?
Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
- Airports and Airlines Spain
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- Daily brief -Thursday 4 February 2016
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
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- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
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- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Financial worries for many Spanish Ayuntamientos
Escalating debts and falling income due in part to the recession, promises to make 2010 and 2011 diffucult for Spanish Municipal Council,with many having to cut investment in order to balance their debts.
A recent report by the Bank of Spain estimates that there is around 29.25 billion euros owed to local businesses by Town Councils,with 14.85 billion of it relating to the provincial capitals.
Some Ayuntamientos are performing worse than others - Madrid in particular has seen local businesses threatening to stop paying their staff if the city hall does not pay their outstanding bills, which have remained unpaid for almost 1 year.
In Zaragoza the Town Hall has spent what would normally be 25 years budget over the last 5 years alone, however Town Hall officials believe that recent investments place them in a strong position for when Spain finally exits the recession and the economy improves.
Santander's Municpal council has recently reduced debt by 14%, but it is still 75% above the permitted level according to new government guidelines.
Latest News & Stories
- Spain may compensate Bankia shareholders after flotation fraud claims
- PSOE refuse to bow to Podemos’ over negotiation demands
- Vodafone Spain revenues down 1.3% to EUR 1.26 bln in Q3
- Madrid-Riyadh Flight Evacuated
- Spain reports first European case of Zika-infected pregnant woman
- Spain's CaixaBank launches Samsung Pay
- Spain sees defence exports rise 25%
- EC forecasts more growth but higher deficit for Spain
- Spain's Rat-Throwing Fiesta Slammed by Animal Rights
- Spain's BBVA Q4 net profit up 36%