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[SITUATION] · [ACTIVE] · [POLITICS]

2 clusters · 6 sources · 8 days · First seen · Last updated

Spanish political parties electoral microcredit campaigns

Overview

Spanish political parties have initiated microcredit campaigns to fund upcoming general election expenses.

The Spanish Socialist Workers’ Party (PSOE) launched an initiative allowing citizens to lend between 200 and 10,000 euros at an annual interest rate of 3.75%. The party intends to repay these loans within one year using electoral subsidies. In the 2023 election cycle, this method raised approximately 5.92 million euros.

Following this, the Vox party, led by Santiago Abascal, introduced a similar campaign offering an annual interest rate of 4.25%. Vox allows contributions ranging from 100 to 10,000 euros, with repayment scheduled after the receipt of state subsidies. The Court of Auditors has previously raised concerns that this financing model could potentially facilitate disguised corporate donations from entities prohibited by party financing laws.

Entities

Spain · PSOE · Vox · Santiago Abascal · Court of Auditors

Timeline

  1. [POLITICS] 3 sources
    Vox offers 4.25% annual interest on electoral microcredits

    Vox has introduced electoral microcredits offering 4.25% annual interest to fund its campaign, surpassing the rates offered by the PSOE and major banks.

  2. [POLITICS] 4 sources
    PSOE launches microcredit campaign for election expenses

    The PSOE is seeking microcredits between 200 and 10,000 euros from citizens to fund upcoming election costs, offering a 3.75% annual interest rate.

Sources

columnadigital.com · e00-expansion.uecdn.es · lacronicabadajoz.com · lacronicadebadajoz.elperiodicoextremadura.com · pleinevie.fr · theobjective.com