PALMA and Madrid have opened talks about a new model of funding for the Balearics.
The Balearic president, Francesc Antich, announced yesterday that he is “moderately optimistic” that a satisfactory solution will be reached after the first round of talks with the deputy vice-president of the Spanish government, Pedro Solbes. One of the key points the Balearics wants Madrid to take into account and include in the new model is the region's floating population and the vast costs involved with looking after the millions of tourists and holiday home owners who visit the islands every year. However, Antich admitted that the negotiations “are going to take time.”