US EditionSpain to write off regional governments' €83billion debt amid impressive economic growth - Olive Press News Spain
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Spain's central government aims to cancel €83 billion in regional debt - Spain in English
Spain’s minority coalition government led by the PSOE socialists and left-wing Sumar group announced on Monday its intention to cancel €83.2 billion in debt accumulated by regional administrations during the 2008 financial crisis. Budget Minister María Jesús Montero (main image) explained that the proposal, which requires parliamentary approval, would apply to all 17 autonomous regions of Spain. These regions, under the country’s highly decentra…
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