MADRID Oct 29 Spain's northern region of
Cantabria on Monday became the ninth of the country's 17
autonomous regions to request a credit line set up by the
central government to cover its liquidity needs.
The region's government said it would tap the fund, which
has a capacity of 18 billion euros, for 137 million euros.
Spain's regions are shut out of capital markets, and
Cantabria said the credit line was the cheapest option available
to handle its finances. It estimated the cost of the credit
would be around 5.5 percent.
Other regions, including Catalonia, which is responsible for
close to a fifth of the country' economic output, have already
tapped the credit line for an amount close to 17 billion euros.