Reply To: EURIBOR 5,4 TODAY

#83780
Anonymous
Participant
ronniedisco wrote:
Excellent post Peter Good, how long will it be before those abandoned lemon groves seem like a viable proposition again, Lovely people the spanish but they are too single minded to have seen this crash coming, where I live close to torre del mar the new secondary school that was due to be completed for this september has even come to a standstill.

Ronnie

I think this will be a sign of the times , councils got used to spending vast fortunes of money each year on the back of European money from Madrid and booming numbers of building licences. Where will the money come from now for these grandiose schemes? As these two sources of finance are now almost nil.

Parking fines?
Big increases in Council Tax?

I cannot see them unloading the thousands of extra staff taken on during the boom.

Many councils are also up to their necks in debt,having taken on loans at low interest rates.

Problems for councils I can see becoming the next can of worms.