Madeira: PSD and CDS-PP present protest vote for State not having granted guarantee for loan of 458 million euros

Madeira says that this "unspeakable and inexplicable" rejection of the guarantee, which was a "simple administrative act", at no cost to the state, leads the region to urgently move towards the loan, so as not to compromise the "economic and population ”, and to pay an additional 84 million euros in interest.

The PSD and CDS-PP presented a protest vote at the Madeira Assembly, showing displeasure that the State had not granted a guarantee for a 458 million euro loan, which would serve to respond to the impacts caused by the pandemic. Both parties say that this “simple administrative act”, at no cost to the State, leads Madeira to urgently move forward with this loan, so as not to compromise the “economic and social needs” of the population, and to pay an additional 84 million euros in interest.

The governing parties in Madeira underline the measures, more than 300, that were taken by the regional executive, in order to protect the health of the population, enhance a gradual return to normality, and also the economic and social recovery of the region.

Democratic centrists and socialists stress that all these measures were supported exclusively by the Regional Budget, and did not count on the solidarity of the Republic, despite the regional executive “having always sought institutional dialogue and cooperation”.

PSD and CDS-PP reinforce that despite Madeira's “proactive, articulate, and ethical” posture, there has been no “dialogue or response” to the population's wishes, the State remaining “impassive and indifferent”.

Both parties reinforce that at a time of “enormous economic and social difficulties” it would be imperative “ethical and moral” for the Republic to increase transfers to the autonomous regions in compliance with the principle of solidarity, and would show coherence with the posture that the Republic has shown before the European Union, when saying that it could not wait without limit and it was necessary to know if the recovery program was a slingshot or a bazooka.

PSD and CDS-PP emphasize that the state has not decided to increase transfers to the autonomous regions, but rather to increase its net indebtedness, however without even guaranteeing what was within its reach and without any added cost “the most adequate financing conditions.

Social democrats and centrists reinforce that in view of the consequences caused by the pandemic, it was necessary for the Government of Madeira to proceed with a loan of 458 million euros, to respond to areas such as social, employment, companies, support lines, in order to that the region can recover. For both parties, the State could "without any burden" provide a guarantee, which would allow a low interest rate and save 84 million euros in interest, a saving in the interest rate of 1,3%, conditions that could be ensured through of a “simple administrative act” at no cost to the State.

Both parties accuse the State of having “ignored, despised, and discriminated against” the population of the autonomous region, adding that this is a situation of “completely unspeakable and inexplicable” revolt for both the regional executive and the population.

Like the Republic's response, it did not arrive in due time, and despite the intervention of the President of the Republic, PSD and CDS-PP emphasize that the region had to urgently move towards the loan of 458 million euros, so as not to compromise the needs economic and social aspects of the population.

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