The advisors for RTVE (Spain?s public television and radio network) have decided to ask for 70 million euros in credit to bolster their accounts and finance payroll and supplier costs.
In this way, RTVE is protecting itself against the delays that the change in government could cause in subsidies and before a potential non-payment on the rate that television companies pay to finance part of the Corporación?s budget, especially if the European Court of Justice declares the exaction to be illegal.
Once RTVE becomes a public company, it ought to provide further explanations. It is showy to end the year with a budget surplus between 10 and 30 million and still have a cash emergency, which unveils doubts about its financing model.
RTVE should demonstrate that there are no management problems or a need to review their budget.
