Independent journal on economy and transport policy
04:24 GMT+2
This page has been automatically translated by Original news
The Spanish economic crisis is aggravated and the Infrastructure and Ministry of Transportation announces new cuts
Up to now with the plan of restructure and rationalization of the ministry it is proceeded to the liquidation or cession of 98 public societies
July 20, 2012
In these hours in Spain virulence of the economic crisis is particularly manifest that has hit the Iberian nation. After the declaration of the minister of the Budget, Cristobal Montoro, that he has admitted the impossibility of the State to tackle to the payment of the services publics without the aid of the BCE, that is taken part buying Spanish government bonds, today the Eurogroup has decided to take part in support of the Spanish banks approving of an initial tranche of funds for 30 billion euros, with availability in order to arrive until 100 billion, destined to the recapitalization of the credit institutions. And it is today also the news that the Comunitat Valenciana is the first Spanish independent community to have asked the central government formally for being able to approach the instituted fund in recent days in order to supply liquidity to the local authorities.
While the measures are intensified in order to reduce the public expense. Today the Spanish ministry of the Transports and Infrastructures has announced to have proposed to the Council of Ministers, on the base of own plan of restructure and rationalization of the companies in public participation, the liquidation of five society participated from the ministry with a advanced quota to 50% of the share capital, the cession or liquidation of 16 public societies to which the ministry participates with an inferior quota to 50%, the fusion of the foundations that are under responsibility of the ministry in a single foundation and the cession of 22 agencies or society participated from several Harbour Authorities.
The ministry has specified that these measures join already to those adopted by the Council of Ministers last April that 49 public societies regarded others that are under responsibility of the Infrastructure and Ministry of Transportation.
With the plan of restructure and rationalization put in existence from the ministry it is proceeded up to now altogether to the liquidation or cession of 98 public societies participated by Harbour Authorities or the ministry.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher