It is predicted that starting from October 2013, the Govern will make available 150 million euros to support the restructure of the PME (small and medium businesses) debts in the tourism sector. The measure was announced with the intention of supporting the tourism companies that are going through financial difficulties, raising the flexibility of compliance of their obligations together with the financial institutions. The impact will be overall felt among the smaller companies, because those are the ones that have a more restricted trading margin with the creditors. The maximum value of the restructured debt is up to 6 million Euros per company.
For being new it is not yet possible to determine the scope of this measure. However, the Support Line to Financial Consolidation counts with the support of the Mutual Guarantee Institutions and with the adhesion of many Banking institutions.
