Spain presents recovery plan

The Spanish government yesterday presented plans it will negotiate with political parties over the next two months as part of a wider plan to promote economic growth and job creation. The plans include a proposal to provide loans of up to €200,000 (£180,964) to help small and medium-sized firms, which form the backbone of the Spanish economy and which have had difficulty financing day-to-day costs during the economic crisis. “While the credit channel is not flowing normally, the State should make an effort to reduce the financial restrictions they face,” said economy minister Elena Salgado.