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Lottery winner pays the council's wages - at 28 percent interest
19 March 2012 @ 12:56

The Mayor of Los Barrios has paid the wages of the council workers using a 1.5 million € loan he obtained from an individual at an interest rate of 28%. The interest has to be returned to the individual on April 1 2012.

Jorge Romero from the Partido Andalucista obtained the loan at the end of last year, against the advice of the Municipal budgetary office.

Read more: http://www.typicallyspanish.com/news/publish/article_34063.shtml#ixzz1pYgeFkB6



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1 Comments

George said:
24 March 2012 @ 07:50

It is because of clowns like this running local councils, towns and cities, and urbanizaciones communities, that the entire country is in such a mess and no wonder Spain will have to get a bail out or leave the Euro. It's agreat country to live in but there is no way on a developmental scale that it can compare to Germany, France, or the UK. Basically Spain is a bit above the third world -and a hellova lot below the first.

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