The Junta de Andalucia has announced that it now intends to pay off its €630 million debt to the universities in the region within two and a half years.
The Junta de Andalucia has today paid €6.5 million to the Andalucian Council of Bar Associations to ensure that the legal aid system continues to function. The Junta also paid €7.4 million in February and March as part of a commitment to settle outstanding debts with 7,000 lawyers providing legal aid services.
The 240 regular users of a social kitchen Emaús in Estepona could soon be without what is for many their only meal of the day due to the unpaid salaries of the four cooks employed at the centre.
According to the National Federation of Self-Employed (ATA), the government authorities in Andalucia (regional, provincial and municipal councils and public companies) owe €692 million to the self-employed and small businesses in the region in the period up to June.
In July 2001, the Council of Riogordo was ordered to pay 118,858,322 pesetas (€714,352.90) in compensation to a local landowner for the enforced expropriation and subsequent use of an aquifer located on Cortijo de Aute.
Torrox Council has said that it has managed to pay off around €5 million of the debt owed to local suppliers since coming to power last June. A Council paying its bills should, of course, be routine rather than a newsworthy item.
The Councillor for Social Services and Employment, Encarnación Moreno, is again asking the Junta de Andalucia to pay the debt it owes to the Special Employment Centre Friendship Workshop, Taller de la Amistad, which amounts €121,109.
Spain’s borrowing costs have risen at its latest bond auction and on money borrowed today, payable in 10 years, Spain has to pay an interest rate of 6.975%, the highest since 1997. A high rate or yield indicates investors may not have confidence in a government to fully repay its debts and the figure is perilously close to 7%, the …
Italian and Spanish government debt have both been downgraded by the Fitch credit rating agency. Fitch cut Italy’s rating from AA- to A+. Fellow agency Moody’s carried out downgrades earlier this week.
The government and opposition have agreed to pass a constitutional limit on public sector borrowing as parliament discussed further austerity measures designed to cut the deficit to 6% of economic output this year, compared to 9.2% in 2010.