payment

Catalonia will be the only Autonomous Community in Spain whose part of the Spanish Liquidity Point (FLA) will be subject to extra control measures. "It is arbitrary discrimination" against Catalan citizens and the Government's suppliers, stated current Catalan Finance Minister Andreu Mas-Colell this Tuesday and announced that the Government will take the measures before the Spanish Supreme Court. Spanish Finance Minister Cristóbal Montoro justified the imposition of "specific and additional controls" to guarantee "transparency" and ensure that “the FLA won’t fund pro-independence whims”. Mas-Colell accused Spain's executive of trying to take political advantage of an "ordinary procedure between administrations" and urged the Spanish government to pay the pending 3,034 million euros from the FLA before the end of the year. 

The Catalan Government will receive €1.7 billion less from the Spanish Liquidity Fund (FLA) in 2013 than had been previously foreseen. The news was announced by the Spanish Government in mid-October, with only 10 weeks left before the end of the year. Madrid has justified the decision by linking the FLA to the plan to lend money to public bodies in order to enable them to pay suppliers. The money to pay suppliers will now be deducted from the FLA, changing the previous conditions. As a consequence, the Catalan Government will not be able to fund the 1.58% deficit it had allowed, since the FLA is its only access to liquidity. Now, Catalonia will only have money for the previously-foreseen 0.7% deficit. The Catalan Executive feels “tricked” as “it is not understandable that the Spanish Government agrees to a greater deficit and later cannot fund this deficit”.

CaixaBank and Visa Europe will begin installing the system enabling “contactless payments” to be made throughout Barcelona. The system consists of paying for goods valued at less than €20 by passing a special credit card in front of a sensor, with no need of actually introducing the card anywhere or typing any code. The system will become fully operational to coincide with the Mobile World Congress, which starts on February 27th. Barcelona will be the first city in Europe where the contactless payment method can be used, ahead of London, which aims to have it ready for the Olympics this summer.

?There is a good trend towards recovery in Catalonia in the second half of the year,? states Antoni Castells, Minister of Economy and Finance