| Author (Person) | Johnson, Miles |
|---|---|
| Series Title | Financial Times |
| Series Details | 29.8.12 |
| Publication Date | 29/08/2012 |
| Content Type | News |
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It was reported on the 28 August 2012 that Catalonia would request an emergency €5bn credit line from Spain’s central government as the region struggled to refinance its debts. The government of Catalonia, which had debts of €42bn and managed an economy as large as Portugal’s, said it would request the aid from Spain’s regional bailout fund. The region had been locked out of capital markets and would become the second of Spain’s 17 autonomous regions to formally request aid from a €18bn government rescue fund. Subsequently, Spain's Andalusia on the 3rd September 2012 became a further region to request a financial lifeline from the central government. The region had asked for €1bn worth of aid to be granted immediately. Murcia and Valencia had also requested financial assistance. El País reported on the 4 September 2012 that of Spain’s 17 cash-strapped regions, only three – Madrid, Galicia and La Rioja - had categorically ruled out tapping the Regional Liquidity Fund (FLA). |
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| Countries / Regions | Spain |
