Portal de Totana
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"After more than 9 months of negotiation with the Ministry of Finance and the General Directorate of the Treasury, Cánovas manages to solve the largest loan, with clauses and usury interest that signed the Municipal Government of the PP in 2010 ignoring the Negative Reports Of Treasury "
The Extraordinary Plenary held on Monday, February 13, will study a proposal from the Mayor to refinance a loan of 21,008,445 euros with BBVA and solve a very serious financial problem that affected the municipal coffers since 2010 and that those responsible for the PP had not been solved.
All of them, after arduous negotiations with the Financial Institution, with the Ministry of Finance in Madrid and with the heads of the General Directorate of the Treasury in Madrid, Nicolás Jannone and Paula Somoano.
A loan formalized in 2010 by the Municipal Government of the PP, which grouped another 5 credits of the Old Local Credit Bank and the same BBVA.
At that time, the Government of the PP, signed interest at 6.5%, increasing the arrears to 18% and a rupture clause (penalizing early repayment or refinancing) of 8,731,437 euros.
An operation that, theoretically, ended in 2035.
Following the formalization of this costly operation for public interests, the Ministry of Finance asked the PP government to cancel the operation to which the then Government Team ignored, while not paying the amortization fees and interest they had agreed With BBVA, generating a very serious problem that would be inherited by others.
On June 13, 2015, one day after Juan José Cánovas took office as Mayor, the obligations of the City Council of Totana (town) with BBVA amounted to € 23,501,885, broken down into the following items: Payment: 13,054,126.54 euros;
Interest on delinquency for delinquency of the City, to 18%: 1,716,322.60 euros and the Clause of rupture: 8.731.437 euros.
After several negotiations with the Financial Institution (BBVA) and avoiding the growth of a debt that could not be addressed under any circumstances, the Plenary approved in March 2016 a proposal for refinancing that the Ministry of Finance does not accept because the Mayor raises Consult your agreement before signing anything.
Contrary to what the PP did in 2010.
From the General Subdirectorate of Financial Studies of Local Entities, the problem stems from the General Directorate of the Treasury, which imposes on BBVA a refinancing of debt, following a meeting held in Madrid by Juan José Cánovas, the Councilor for Finance and the First Lieutenant of Mayor who completed the mayor's efforts before the Ministry of Finance and those responsible for the Public Treasury, Nicolás Jannone and Paula Somoano.
The General Directorate of the Treasury issues a report and BBVA accepts the offer, valued by the Public Entity, with the refinancing proposal of 21,008,445 euros (in which capital, outstanding interests and rupture clause are grouped together) which is a saving Real higher than the 2,500,000 euros that would be much more if we add the generated from the 13 of June of 2015 to the date.
This 10-year operation has a substantial interest rate reduction of 6.5% and 18% to less than 1% (Euribor 360 + 0.574), which means an additional saving of around 686,912 euros in interest The life of the loan.
Adding capital and reducing interest calculated, we far exceed the savings of more than 3 million euros for the totaneros' pockets.
"We placed this loan in Prudencia Financiera, grouping the concepts and a substantial reduction of the Clause of rupture signed by the PP in 2010 and we will be able to take advantage of the Fund of Aid of the Ministry to increase the years of payment and lack ...", has manifested the Mayor Of Totana, Juan José Cánovas.
This operation comes to close the solution and refinance of the millionaire loans left by the PP to the town of Totana, in addition to paying a significant part of the Debt to Suppliers and the almost 10 million Sentences firm that we have recently faced for the money Entered into urban agreements and unpaid debts.
Operation in which the management and firmness of the Mayor, has reduced in other almost 2,000,000 euros to the creditors in takedowns with the firmness that must have a councilor who defends the public interests of its neighbors.
"Once again it is demonstrated that the seriousness and firmness, explaining to the neighbors and with transparency, can give its fruits although we have a long way to go to definitively return the very serious economic situation that left us to the totaneros 12 years of bad The Plan of Adjustment (which was rejected twice in Plenary by PSOE and PP) is the fundamental reference for the Ministry of Finance and Treasury, consider our seriousness and recover the lost credibility as a serious institution that represents To more than 30,000 people ... ", concludes Juan José Cánovas.
Source: Ganar Totana-IU
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