Spain supervises its regions

The finance ministers of Spain's regions meet today, Tuesday, to discuss support for highly indebted regions with central government representatives. Finance Minister Cristóbal Montoro is calling for control mechanisms for ensuring compliance with the austerity measures. The business paper Expansión finds this reminiscent of the talks at EU level: "As a guarantee for loans granted to the regions, the finance minister wants direct supervision of the budgetary policy and the austerity measures in those regions that need help from the central government. However this supervision is not being given legal form so as not to arouse fears among the regionalists that they are being told what to do. In this way at today's meeting of finance ministers Spain may adopt at an internal level the same structures that Europe has built up with those countries that have called more or less explicitly on European institutions to help them pay their debts."

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