Madrid sold 2.270 billion euros in debt yesterday. This is the most debt sold by a Spanish regional government in history. Madrid has gotten the financing that it needs to cover expenses for all of 2013.
At this point Madrid will not have to ask the Spanish national government for aid via its Regional Liquidity Fund (FLA following the Spanish abbreviation). With this latest round of debt issuance, Spain's regional and national governments have raised a total of 43.270 billion euros, 27 billion of which were sold by the Treasury. This new cash flow inspires optimism for so that at least Galicia, Aragon and Navarre can make the most of the situation and sell their debt to hungry markets. International demand for Spanish debt has rebounded, a sign that investors are changing their views on the health of the nation's economy.
