The Government offered refinance bank debt of autonomy – Newspaper

The Government offered refinance bank debt of autonomy – Newspaper

Tuesday, December 16, 2014

government will offer regions refinance debt you now have contracted with Spanish financial institutions (just over 56,000 million in total) so they can benefit from lower interest now achieved financed the Treasure . The goal, according to Minister of Economy, Luis de Guindos , is “that savings by better perception of Spanish Treasury market extends to all communities and municipalities”, even those institutions that currently are not covered by the Regional Liquidity Fund (FLA). In any case, ruled an acquittal as advocated by the Minister Cristobal Montoro .

“This is the importance of solidarity and proof that together we are stronger to face complex situations “, almost half of its total debt De Guindos said yesterday in political terms in the Senate, after repeating the maxim that” the Government will not let fall an autonomous community. “

In Catalunya of 63,075,000 and depends on the state through the FLA (almost 24,000 million) and Provider Payment Plan (6,500 million). In addition, there are 11,000 million public debt and external debt 6,700 million and almost 12,530 million of debt in the short and long term financial institutions. This last block is that affect the measure announced yesterday by the Minister of Economy.

THE REMOVE “YOU ARE ON THE TABLE” / Luis De Guindos reported yesterday in the Senate of the formulas that the Government intends provide autonomic responsible at the next meeting of the Council of Fiscal and Financial Policy (CPFF), yet call date, to relieve their accounts. Another formula shuffled by the Finance Minister Cristobal Montoro, which is the possibility of a haircut on the debt that the autonomies have with the State (a total of 85.185 million euros, of which 30,441 correspond to Catalonia), simply “is not on the table,” de Guindos said the minister twice to questions from journalists. “On restructuring (debt) have not addressed anything” clinched.

The statement of Economy Minister highlights another episode of the differences of opinion that from the beginning of the legislature, maintains with the finance minister. This time differences erupted at the meeting of the Executive Committee on Economic Affairs last week, in the presence of Prime Minister, Mariano Rajoy, who chose to leave the tiebreaker for this week. The forcefulness with which yesterday De Guindos expressed implies that the jump has occurred to the owner of Economy, although it may have not played all the cards.

In this controversy is opposed the political vision of the Minister of Finance, very aware of the 2015 election dates, to the point of view of economy minister, who has to come forward to the European Commission by the policy measures taken in Spain, a country intervened following the bank bailout.

IN THE PATH OF FLA / Economy Minister appeared yesterday in the Senate Finance Committee to address questions of general economic policy. The Senator José Montilla Entesa asked about the possibility of an acquittal on the public debt (a proposal put forward by the leader of the PSC, Miquel Iceta) and De Guindos unveiled “the approach of the Government in this matter,” according to his words.

According to the minister, the mechanisms Regional Liquidity Fund and Provider Payment Plan have achieved significant savings translate to autonomy and municipalities that De Guindos amounted to 28,000 million euros for the whole life of the debt assumed by the State.

So far the FLA finances the deficit of autonomy and maturities of the nine communities benefiting from this mechanism (Catalonia, Andalusia, the Balearic Islands, Cantabria , Castilla-La Mancha, Extremadura, Murcia and Valencia). Now it is “continuing with this procedure” and extend to claims of autonomy to “Spanish financial institutions” and not just persons covered communities to FLA, but to anyone who wants to benefit from the “coordination mechanism emissions” to De Guindos yesterday spoke.

Galicia, Aragon, La Rioja, Castila and León, Navarra and the Basque Country it is readily financed under the umbrella of the Treasury. For these communities, Hacienda what is working deck called as “good FLA”, with conditions other than those involving control mechanisms derived from the current fund. Finance also last mechanisms to promote savings in the healthcare and pharmaceutical expenditure.