City Halls clear debt

With the arrival of the crisis, the mismanagement that many city councils had carried out with their balance sheets was uncovered, the debt was unsustainable and there were no signs that it would be reduced, it was then when it was seen that the financial tap was “dry ” when the municipalities decided to spend less and save more.

Thus, 2014 was, according to El País , the year in which there has been the greatest debt reduction in the history of democracy by Spanish city councils. Large capitals such as Madrid, Valencia, Barcelona or Malaga are the ones that have seen their liabilities reduce the most.

On the other hand, Bilbao, one of the healthiest cities, is also the one that has increased its debt the most proportionally this year.