How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
... 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
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily Brief - Thursday 29 January 2015
- 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
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Valcárcel Denies Murcia Bailout
Over the weekend, it was revealed that the Murcia Regional government had requested a bailout from central government of up to €300 million, a revelation which Ramón Luis Valcárcel, president of the region vehemently denies.
In an interview with 'La Verdad' last night, Valcárcel stressed his comments made in an interview with 'La Opinion' were taken out of context and ultimately led to news agencies around the world reporting Murcia being the second region in Spain requesting a bailout.
Speaking to 'La Verdad', Valcárcel insisted that "the regional liquidity fund is not a bailout fund or rescue package, but an alternative mechanism of financial assistance in which regions can be financed with state guarantees". He was very clear that this fund is not a bailout mechanism nor using it is any kind of rescue.
In a statement issued yesterday in the wake of the bailout news, Valcárcel stressed "No decisions had been made about seeking finance from the regional liquidity fund".
Despite the rhetoric of denial, non bailout and non rescue, the very fact that Valcárcel and his regional government are mulling over the idea of dipping into the "alternative mechanism of financial assistance" signals Murcia is likely to take a regional bailout and everyone will see it that way.
Tumbit reported yesterday how the timing of the news comes as a coincidence after revelations that the regional government are liable as guarantors to bank loans given to the consortium constructing Corvera Airport - Read our report here >> "Corvera Airport Hits Financial Hurdle"
Spain is in a critical situation being heavily dependent on financial markets. Spain's borrowing costs are at an all time high and experts believe a full blown bailout is inevitable.
Latest News & Stories
- Spanish Airports to see 25 days of strike action
- Islamisation "Stronger in Spain than Germany"
- Spanish court charges 10 priests with child sexual abuse
- Albanian named in helicopter crash in Spain suspected of smuggling drugs
- Caja Madrid officials who used “black” cards targeted in investigation
- British Expats Set To Lose Retirement Benefits
- Spain kicks off AENA share sale
- Spain arrests suspected militant cell in north Africa
- Murcia's San Javier Airport "to close within 6 months of Corvera opening"
- New Survey: The Future Looks Bright for Expat Workers
- Dacion en Pago : Handing Your Property Back to the Bank
- Complementary Taxes
- When you can’t pay the Mortgage