After years of dithering and trying to put off the inevitable, the Spanish government and the country’s troubled road concessionaires are moving rapidly toward the day of reckoning. With a second road concessionaire applying for bankruptcy protection recently, road operators are finally forcing the government’s hand.
That this is taking place just as Spain seems to be inching toward a full European Union (EU)/ International Monetary Fund (IMF) bailout is a troubling prospect for both sides.
High noon
With a second road going bust, the Spanish government and troubled road concessionaires are getting ready to square off in the shadow of a potential EU/IMF bailout.
