Spanish Business News

The Spanish region of Castilla-La Mancha has no money and can’t pay the salaries of its workers, El Mundo reported, citing Vicente Tirado, regional secretary of the People’s Party in the region.

Tirado, number two to Maria Dolores de Cospedal, the recently elected president of Castilla-La Mancha, said the party would have to look for ways to pay 76,000 salaries next month as the region is “totally broke” and owes 2 billion euros ($2.9 billion) in unpaid bills to suppliers, the newspaper said.

Santiago Moreno, the outgoing Socialist head of the region, denied the accusations, saying they are “totally false,” the newspaper said.

Source: Bloomberg