FACUA rejects the Government's decision to pay banks 2,300 million Euros as a toll road bailout

FACUA-Consumers in Action totally rejects the agreement between the Treasury, the Ministry of Public Works, Transportation and Communications (Ministerio de Fomento, in Spanish), the six main banks and construction companies that are creditors of the set of ten motorways which have declared bankruptcy. This agreement is expected on September, for the nationalisation of these toll motorways and it implies that Spanish citizens will be forced to take over, at least, 2,300 million Euros of debt.

The agreement will lead to the re-set up of the National Motorway Company -it already worked, in similar conditions, from 1984 and 2003-, a public company with the aim of restructure, once again, these motorways’ corporate finances so that they can be sold again when they are profitabl