July 27, 2012

Spain’s regions call on government for bailout

Over the last week, Spain’s regions have asked the central government for access to its credit line. Valencia, Murcia, and Catalonia have combined debts of around 65 billion euros and are on the brink of being unable to pay key public service providers.

The debt crisis in Spain’s regions adds to the financial pressures facing the central government, and could lead to it making a formal request for an EU bailout, say a growing number of observers. Read more + video.

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