Op-ed: Companies also want open bar at the ECB

On February 29 the banks will turn to the European Central Bank's (ECB) open bar offer in order to finance future operations.

If the situation works well with the plan that the Spanish government approved yesterday, which allows its companies to pay down their debts, it is possible that money will begin to flow and not continue to pile up without flowing to companies.

Banks are showing interest in the deal, because it opens a new route for exploiting money from the ECB and provides liquidity for companies to settle accounts with the banking sector.

The government is showing interest in the deal as well. It forces town councils to shed light on pending invoices, though a deficit will be apparent, and to form a plan for adjustments that allows for a viable future.

Companies are showing interest, too. Starting May 1 they are going to start paying down debt that has suffocated them until now. Regional governments now have to carry out a similar plan.