Treasury agrees with the Basque Country that it can exceed up to 15% of its debt limit

The central government and the Basque Executive, within the Joint Economic Concert Commission, have agreed to relax the debt limit so that Euskadi can exceed by up to 15% the financial sustainability target agreed for each financial year. This agreement has been reached at the meeting that took place this Thursday in the Ministry of Finance between the First Vice President and Minister, María Jesús Montero, and several members of the Basque Exec…

The government and the Basque seal new agreements while Congress ratifies the previous reform of the forum concert, which includes regulation of 14 taxes including VAT. Read

Was anyone against debt-making?

Without surprise, the Congress of Deputies has endorsed on Thursday the agreement reached between the Basque and Spanish governments to allow the foreign estates to conclude and expand their self-government in more than ten taxes. The Reform of the Concert has been approved with the opposition of the ultra-right of Vox and the abstention of Compromís in protest of the Valencian financing, and has done so without partial amendments, in single rea…

The Basque Government wanted to have its hands free to deal with the possible consequences of the trade war launched by the United States. But it needed Madrid's approval for this. In fact, the Vitoria-Gasteiz government wanted to increase the debt to provide aid to the sectors that will be most affected by border taxes, among other things. The path is now clear, as it has agreed with the Spanish Government to increase the public debt by another…

While the world holds the breath waiting for Trump to press or not the button of tariff chaos, the Basque government has signed a package of four agreements with the state this Thursday to give financial certainty to the autonomous community. The Mixed Economic Concert Commission meeting in Madrid has agreed, on the one hand and with great anticipation about what may happen in the future, that the debt to the territories of common system does no…