While the regional government is anticipating being able to arrive at improved financing arrangements for the islands with Madrid and while the regional finance minister, Catalina Cladera, has held positive discussions with central government, the fact is that, for the moment, there is no change at the national finance ministry. Cristóbal Montoro is, as are all ministers in Madrid, fulfilling an acting function, but the work of government cannot simply grind to a halt because of the impasse over the formation of a new government. Montoro has, therefore, reminded the regional administration that if it wishes to access financing from the Autonomous Liquidity Fund (a specific funding mechanism for the Spanish regions), then Cladera and her government will need to approve a new financial adjustment plan.
Economy
Madrid continues to play hardball on Balearic finances
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