The Andalusian regional government has exhumed the UGT housing cooperative PSV. In 1993, the PSV suspended payroll and lost retirement investments for nearly 20,000 workers. Twenty years later, history repeats itself for 583 families that have had their homes and incomes taken from them.
And a 30-million euro deficit needs some explaining. The bank, as before, is refusing to finance the Andalusian employer's group because of the discrepancy in these VPOs (Viviendas de protección oficial, a type of state-subsidy housing). Incomplete housing developments and a massive exodus of investment capital put this deal at risk, and a judge in Seville is currently investigating.
Nicolás Redondo left the UGT in bad shape after the PSV fiasco. It would only be fair that this time the culprits are found and pointed out, although in Spain many people don't know what the word "resign" means.
