Saturday 24 March 2012

AND YOU THINK IT'S BAD IN THE U.K.!

Lottery winner pays the council's wages - at 28 percent interest
19 March 2012 @ 11:56


The Mayor of Los Barrios has paid the wages of the council workers using a 1.5 million € loan he obtained from an individual at an interest rate of 28%. The interest has to be returned to the individual on April 1 2012.
Jorge Romero from the Partido Andalucista obtained the loan at the end of last year, against the advice of the Municipal budgetary office.
Read more: http://www.typicallyspanish.com/news/publish/article_34063.shtml#ixzz1pYgeFkB6

2 comments:

Barney Thomson said...

Good on yer, Jorge Romero!

If I could find a lottery-winning mug to give me €1.5m to spend on ordinary punters' grub and survival in hard times, at no matter what unrealistic interest, I would.

It's only me or the unco guid cooncillors that will suffer in the end and it would be worth it.

Dark Lochnagar said...

Barney, welcome to the blog. It's how they're going to pay it back which appears to be the problem!!!