Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Madrid gets tough on indebted regions

Source: El Pais - Sun 22th Sep 2013
Madrid gets tough on indebted regions

Spain's Ministry of Finance is clamping down on regions that are failing to do enough to rein in their deficits by tightening the conditions of their access to the Regional Liquidity Fund (FLA).

Over the past few weeks the ministry has demanded that regions that have tapped the bailout fund send a list of pending bills for services provided in areas such as education and healthcare.

Rather than providing them with funds to settle these bills, the ministry is now revising them and paying them itself from the central government's coffers. The rationale behind this is to prevent them channeling the financial assistance they receive to other areas.

The regions that have fallen behind in meeting their targets, such as Valencia, Murcia, Catalonia, Andalusia and the Balearic Islands, will also have to file new budget plans aimed at meeting those goals.

Comment on this Story

 
Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs