Luis de Guindos had lunch with the Balearic Minister for Tourism, Jaime Martinez, and members of the Majorca Hotel Federation yesterday.

12-01-2015

The Spanish Minister for the Economy, Luis de Guindos, made it clear in Palma yesterday that Madrid is not going to give the Balearics any special financial treatment.
Much to the dismay of the Balearic business community, in particular the tourist sector, and the Balearic government, de Guindos ruled out any fiscal favours for the Balearics and tax breaks or reductions for the tourist industry.
Only on Saturday did the Balearic government make it clear that President Jose Ramon Bauza intends to do everything possible to make sure that Madrid pays the Balearics the 1,000 million euros the region is owed and yesterday’s comments will certainly do little to mend the rift between the governments in Palma and Madrid.

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