Madrid, Dec 21 (EFE) .- The Finance Minister Cristobal Montoro, will the Council of Fiscal and Financial Policy (CPFF) of Tuesday, new aid measures to autonomy, so forgive the interests of the copyright financing mechanisms and provide a type 0 to those that have never hosted the FLA.
Montoro propose to communities autonomous in the last CPFF held this year, the “pooling” of its debt load to lower interest rates and leave them at 0 per cent, and currently considered premature to offer an amount of savings that will gain autonomy with the new measures.
The Minister of Finance and Public Administration, stressed that the new aid “favor the funding of all autonomous communities” and not just those benefiting from funding mechanisms.
In his meeting with the directors of the regional branch, Montoro pose eliminate interest of the debt owed by the communities with the FLA, and the fund payments to suppliers and apply that 0% interest for future operations indebtedness of all autonomy, because what is is to “give more financial ease when returning outstanding loans with the State”.
In this sense, was convinced that no community will give up the government’s proposal that is offering the “interest savings derived from the public purse is your treasure regard also to new communities have maturities not covered by the FLA next year.”
The Treasury, stressed, “according to this new demand will have to issue more, but this issue is that it is replacing what would the emissions of local authorities”, which “does not change the Total public debt issue “in 2015.
So, what is now the Government is” to ease financial mechanisms themselves, making them cheaper, “because” the state budget will bear the financial costs, “said cheaper.
In this regard, said that the state will cover the next year maturities of the regions that have not benefited so far no mechanism, and make optimizing Treasury management.
This week, Montoro told the media that the government seeks tools to lower the burden of interest rates autonomy when they finance their debt, as well as the local entities.
On Tuesday the National Commission for Local Administration (CNAL) will also meet local councils to raise these same measures.
Following the meetings of CPFF and CNAL, the government project is that at the last Council of Ministers next Friday, “out legal changes to make this possible” with.
According to Montoro, the Government’s proposal may because it is “taking advantage of Spain is financed in better condition because it has generated trust” and “lowers the financial cost of all administrations”.
Noting the “effort made by all” to meet objectives, recalled that “here is not rescued anybody,” and what has been done has been “finance public services” and “enable all the administrations meet rigorous fiscal consolidation targets.”
So, has denied that instruments such as the one proposed on Tuesday defaults favor of autonomy and this is demonstrated by the fact that “Spain is complying” with the objectives.
The CPFF next week will also consider a “social FLA” for municipalities to collect debts that communities remain with them for the provision of social services.
Also, you will see the economic and financial plans Catalonia, Castilla-La Mancha, Valencia and Murcia four noncompliant communities deficit target in 2013 whose adjustment plans were not approved at the Council on 31 July.
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