Balearic government spokesman and regional Education Minister Rafael Bosch (pictured) said yesterday that asking for money from Central Government would mean that the Islands would have credit more cheaply than if they were to secure funding from the private market.

He gave reassurances that were the Balearics to ask for such a loan, it would not mean that the region would have to forfeit any rights to which it is currently entitled under the regional statutes.

The Minister said that such assistance from Central Government could mean that the problem of the public deficit could be solved although he wasn't precise about figures. However, he said at the moment, the move had not been debated.

Madrid has said that public deficit of the Balearic Islands should not exceed 1.5 percent but Socialist MP Antoni Diéguez claimed yesterday that the regional deficit under the present Partido Popular (PP) government could reach double that figure. Diéguez claimed that the PP were hiding the true figures and that it is “more than probable” that the Balearics would end up asking for a bailout.