Four Chambers requesting access to emergency fund to … – Expresso

Four Chambers requesting access to emergency fund to … – Expresso

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The heavy indebtedness and failure to meet the payment of wages has already taken four municipalities to ask the Government the use of the emergency line available under the new Municipal Support Fund (FAM). The information is released this Tuesday by the “Economic Daily” and the “Morning Post”, which does not identify the Municipalities concerned

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The FAM was issued on Monday by the President and will enable more indebted Cameras presentation, starting in September, applications for accessing a fund that will provide a global cake in the order of € 650 million, funded by the Government and by the Portuguese authorities.

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In total, the Government estimates that there are at least 19 municipalities in financial situation of rupture and need Access this background, to ensure the fulfillment of obligations such as the payment of wages or maintenance of basic services to the population. In addition to these 19, there will still be another 23 municipalities whose access to background will be optional

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While this mechanism does not enters into force – which should only occur in 2015 – however the Government stipulated the creation of a hotline for municipalities with greater urgency to receive financial support. For this provisional line, and reportedly advanced by the two newspapers, the Government funds should anticipate between 30 and 40 million euros.

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The loans that are approved this emergency line – as should be the case of the four municipalities already called for the acceleration of the process -. later be accommodated within the FAM

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