The Madrid regional government is desperate for a new and more profitable financing model. While they work on creating it, hopefully before January 1, Madrid will make the most of a relaxed risk premium to issue 690 million euros in government bonds.
Madrid's arguments are solid: it has met recent budget goals and in May took advantage of the econonomic situation to issue all of the debt it needed to. Raising the ceiling to 1.07% creates a new window of opportunity that Madrid wants to seize.
For that Madrid is waiting on approval from Cristóbal Montoro. The Finance Minister doesn't just have to offer his support, but needs to do so quickly for Madrid to get affordable financing.
