“Everyone is the architect of his own destiny”, said the Castilian Don Quixote. And today his homeland has to deal with it. The government of the autonomous region of Castile-La Mancha has decided to ask for help from the Liquidity Fund for 848 million euros to meet debt maturities. The figure corresponds to about 10% of the region's total debt.
The Castilian executive wanted to insist that it is not a "rescue" but rather a "liquidity support mechanism". Furthermore, "it will not be necessary to take any extraordinary measures but only to adjust the plan we already have", declared the councilor Arturo Romani.
The Relief Fund for the Autonomous Regions was created by the central government and has 18 billion euros. Castilla la Mancha is the fifth region (out of a total of 17) to have resorted to it later Catalonia, Andalusia and Valencia, which already occupy 75% of the relief fund – with 5, 4,9 and 4,5 billion respectively. Also Murcia has announced that it will ask between 200 and 300 million from the fund. So the other 12 regions would only have 3 billion left available to ask for help from the fund and they have until December 31st to do so.
