Deputy prime minister Carmen Calvo

Deputy prime minister Carmen Calvo said that the Spanish government had set in motion "a reasonable response to a sudden crisis".

11-10-2019Europa Press

The Spanish government has approved spending of 700 million euros to offset the impact of the Thomas Cook collapse. The cabinet yesterday agreed lines of credit of up to 200 million euros for addressing the financial needs of those affected by the collapse and a further 500 million euros for project development. This covers improvements in competitiveness, especially with regard to innovation, digitalisation and modernisation of services.

Among the financial measures are direct grants of eight million euros and fifteen million euros, respectively, for the Balearics and the Canaries. This is spending for recovering the loss of air connectivity, consolidating diversification and improving destinations.

Deputy prime minister Carmen Calvo said yesterday that the Spanish government had set in motion "a reasonable response to a sudden crisis". Industry, trade and tourism minister Reyes Maroto observed that the gravity of the situation and the need to adopt immediate measures made it essential that a rapid response could be made through a decree law. This was what was agreed yesterday.


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paul clayton / Hace over 2 years

All very well, but what about the staff not receiving any pay but expected to turn up for work? People who are selling their possessions for peanuts to buy food and to cover their rent. Some being forced into homelessness and not being able to claim el paro because if they don't turn up for work they are classed as quitting! A vicious circle. People who have been on the Island for years working and giving to the system, which now in their dire straights cannot get anything back. This is shameful, disgusting and immoral. The Spanish system for this kind of act needs sorting out RAPIDO and funds available for Thomas Cook staff, or at least let them apply for the dole without impunity!


Ricky / Hace over 2 years

Let’s watch closely how that 8 million is spent, and how much is missing.